The economic, social, health, and welfare disparities in the UK are creating new classes of poverty where already under-served communities are expected to do the same - or more - with much fewer resources. As we’ve seen over the past two years, communities at the coalface of crisis are still determined to support and provide for each other, but cannot do this alone. In one of the world’s richest countries, we must ask ourselves as a sector where social investment is best placed to use our resources, power, and influence. How can we offer intentional and long-term support where it is needed and wanted? 

We have an opportunity now to address these questions, through the Dormant Assets consultation that can influence how up to £880 million is used for social good. We need social entrepreneurs to help us by submitting a response to the consultation.  

This is a rare opportunity to make real the recommendations of the Adebowale Commission on Social Investment that include “comprehensive structural reform”, and start-up funding for a £50m Black-led social investment fund.  

UnLtd has joined with sector organisations to create the Community Enterprise Growth Plan (CEGP), which outlines exactly how we feel £880 million would be best used by purpose-driven charities and businesses. These recommendations include making the sector equity-driven and social entrepreneur-centred, which are also critical to the Growth Impact Fund (GIF).  

In early July, decision-makers, thought leaders, and folks interested in social investment joined UnLtd’s Future of Social Investment event – gathering under a shared a vision of social investment becoming an equitable and inclusive sector.  

Jamie Broderick, a Commissioner of the Adebowale Commission on Social Investment, made a firm statement to guests that social investment is of high significance to any ‘Levelling Up’ agenda. 

“There simply isn’t a group doing more to improve outcomes for individuals in terms of addressing social issues. The industry has lost its focus on the social entrepreneur – we need to regain it and be a customer-centric system that starts with the social entrepreneur”.  

Focussing on the social entrepreneur is the heart of GIF, which is designed to address four key barriers to social investment: 

• The representation of the UK social investment market leads to biased decision making 

• An inaccessible investment process 

• The lack of appropriate social investment products 

• A lack of trust with investors

 

These four points are expanded on in-depth in this blog post. 

Our contributions to the CEGP have been guided by the response to GIF in the first month since its announcement on 31st May 2022: 

• Over 1000 people read through the eligibility criteria 

• 500 people started the application process 

• Over 240 people submitted their applications, with 56% of applicants based outside of London 

• Over 5,700 people visited the website

 

Structural reform isn’t an easy task, but we know that we must fully embrace every opportunity we have to work towards it, and believe strongly that the Dormant Assets consultation could be transformative to the sector.  

Thinking about the future should be an exercise in hope, which UnLtd CEO Mark Norbury offered in his event remarks: 

“These events fill me with hope, something that can feel in short supply…nonetheless, conversations with social entrepreneurs and with our friends and allies across business, government and civil society, always makes anything seem possible” 

We have hope for Community Enterprise Growth Plan but need your voices to join us. Watch this webinar and read more about this once in a decade opportunity here. 

 Reach out via: 

• Email: [email protected] 

• Twitter: @UnLtd 

• LinkedIn: linkedin.com/unltd