30 May UK social enterprises sector shows strength and growth according to NatWest SE100 Report
The seventh NatWest SE100 Data Report, launched in London last week. This is the largest survey of the UK social enterprise sector’s turnover, growth, profitability, and employment. It compiles data from 2,120 social enterprises with a total turnover of £8.5bn.
The report indicated that in spite of continuing external pressures (public sector cuts, austerity, Brexit) social enterprises in the UK have continued to grow strongly. That the average year-on-year growth in turnover for the established social enterprises on the Index was 61%. The growth of the fastest growing 100 was a strong 932%. The report indicated that as social enterprises mature, many will grow into multi-million-pound ventures. The average turnover of enterprises under three years old on the Index is £634,000 whilst the average turnover of enterprises which are ten years old or more is £8m.
Mark Parsons, head of community finance and social enterprise at NatWest noted that the growth figures are impressive and important – after all there can be no sustainable social impact unless there’s a financially sustainable business.
Read the full report here.
Photo credit: Michel Paz