Member News
By Sally Priestley - 16th November 2006
The government is making £18m available to support the development of social enterprises.
There are around 55,000 social enterprises in the UK - businesses which are founded for a social purpose and reinvest their profits in the company or community.
Well known examples are success stories such as The Big Issue or Jamie Oliver's Fifteen restaurant.
Chancellor Gordon Brown has praised such businesses for "lighting the way toward a fairer society by using business acumen to solve social and environmental challenges".
Brown joined Cabinet Office ministers Hilary Armstrong and Ed Miliband on Thursday for the launch of the social enterprise action plan.
The plan included the announcement of over £18m of public funding to boost the growth of social enterprises.
It also aims to raise awareness of what businesses can achieve and encourage more people to get involved.
Under the plan, social enterprises will be promoted within schools as part of GCSE and A-level business studies courses.
Up to £10m will be available for joint investment with the private sector.
Over £5.9m will go to Regional Development Agencies over the next four years to improve business support for social enterprises.
And £2.4m will go into supporting organisations that represent social enterprises at a national level.
The programme will also see the appointment of up to 20 social enterprise ambassadors to be role models for new entrepreneurs across the UK.
Speaking at the launch, Brown said: "In my view, social enterprise is the new British business success story, forging a new frontier of enterprise - a quiet revolution involving 55,000 social enterprises in our country from the smallest community groups to larger businesses."
Armstrong said social enterprises were having "an incredible impact across the UK - from tackling social exclusion to providing opportunities for the young to help shape our communities".
Miliband added: "From classrooms to boardrooms, people need to know what social enterprise is and what it can achieve.
"That is why we are launching this aAction plan today - to shine a light on a movement that is at the vanguard of social change and enable it to continue to grow and thrive."
Dods Parliamentary Communications Ltd