Fantastic to see government’s commitment to growing UK social investment market

Monday 14th February 2011

Responding to the Cabinet Office’s publication today of ‘Growing the Social Investment Market: A vision and strategy’, The Social Investment Business Chief Executive Jonathan Lewis said:

“It’s fantastic to see this government’s commitment to growing the UK’s social investment market.

“Our experience is that there is huge unmet demand for social finance among civil society organisations. Loans are a new concept for some people in our sector but many charities, social enterprises and voluntary groups have shown they are perfectly capable of using loans to finance their growth, paying them back with interest. What they need is greater access to capital and support to help them become investment ready.

“It’s also good to see the government’s continued commitment to opening up opportunities for more civil society organisations to get involved in public service delivery. Although we’re in tight economic times, there is the chance for innovation and growth for organisations willing to explore working in new ways – engaging with local commissioners by themselves or in consortia.”

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1.  In ‘Growing the Social Investment Market: A vision and strategy’  Alt Valley Community Trust,  which was supported by The Social Investment Business via the Futurebuilders and Social Enterprise Investment Funds is featured on page 23 and The Social Investment Business  is profiled on page 56. The full document  can be found online here: http://www.cabinetoffice.gov.uk/resource-library/growing-social-investment-market-vision-and-strategy

2.  For further information or interviews, please contact The Social Investment Business press office:

Liz Banks - 0207 842 7726/ 07809 504072  liz.banks@socialinvestmentbusiness.org

Nicola Jones - 0207 842 7755 nicola.jones@socialinvestmentbusiness.org

3. The Social Investment Business, the fastest growing social investor in the UK, exists to help social enterprises, charities and community organisations do more of what they do best – supporting people and communities most in need. We help organisations prosper by providing innovative financial solutions, business support and long term strategic thinking.

www.thesocialinvestmentbusiness.org @TheSocialInvest

4. The Social Investment Business manages Government funds on behalf of the Office for Civil Society, the Department of Health and the Department for Communities and Local Government, with over 1,000 active investments. These range from £3,600 to help a small organisation bid successfully for a public sector contract, to £6.7million to help a large national charity establish and develop innovative new services for children and young people.