Fast Social: News for the week 3rd – 7th June 2013

  • article-1160975-03E1474C000005DC-271_634x484It’s great when you’re G8, yeah! This week saw the first ever Social Impact Investment Forum take place as a fringe event to the G8 summit. Lots of people (including moi) got really excited about it, with David Cameron using this rare platform to announce a consultation on tax incentives for social enterprise (first in the news in March 2013), the launch of the Social Stock Exchange (first posited in 2010) and something actually new – £250m  big ones from Big Society Capital to help communities buy local [organic?] shops, [gastro?] pubs and [rugby?] playing fields. Read Big Dave’s speech in full here.  The other big announcement at the Forum was Sir ‘Big Ron’ Ronald Cohen setting up a 16 person taskforce to accelerate impact investing, with a particular focus on social metrics.
  • Data, data. everywhere! BIS released their latest BIS Small Business Survey this week, which estimates a minimum of 70,000 social enterprises in the UK. Meanwhile, The People’s Business released their own survey results suggesting almost half of social enterprises sought finance in 2012, twice the number of SMEs, but face significant barriers accessing it. Which is just as well, because the latest report from the Cabinet Office showed the social investment market grew by 21% in 2011/12. So plenty of demand and supply then…
  • Reality check! A letter was sent to the BBC this week (presumably first class?) arguing that The Apprentice should go social. Which is great, because I was getting really bored of white middle-class men spouting clichés…
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