How Social Enterprises Support UK Economic Growth

Can doing good also be good for business?

There’s an interesting shift happening in how we talk about business growth in the UK.

Social value – the wider contribution a business makes through things like jobs, skills, opportunities and stronger communities – is becoming an increasingly important part of the conversation.

Recent government developments have put greater focus on social enterprises, co-operatives and mission-led businesses, alongside plans to give greater weight to social value in major public procurement.

And this isn’t a small part of the economy.

Research from Social Enterprise UK estimates that there are around 131,000 social enterprises operating across the UK, generating approximately £78 billion in turnover.

For us at PBC, there’s an important message here:

Economic growth and social impact don’t have to be competing priorities.

A successful business can generate revenue and create jobs while also developing skills, opening opportunities, supporting local supply chains and strengthening the community around it.

And you don’t necessarily have to be a social enterprise to think about your social value.

For a small business, it could mean employing locally, giving a young person their first work experience opportunity, choosing local suppliers, reducing environmental impact or using your skills to support your community.

As a Community Interest Company ourselves, we’re particularly interested in seeing this conversation gaining momentum.

Because perhaps the question for the future isn’t simply “How much does a business grow?”

It’s also:

“What grows around it?”