The Social Investment Business response to Prime Minister David Cameron's speech

Wednesday 5 October 2011

Responding to Prime Minister David Cameron’s speech to the Conservative party conference in Manchester today, Chief Executive of The Social Investment Business Jonathan Jenkins said:

“Today it was encouraging to hear David Cameron reiterate the government’s desire to see increased social action, stronger communities and the empowerment of local people.

“It was also promising to hear the Prime Minister speak about further plans to open up public services. There are many civil society organisations that could bring real social value in delivering these services but are struggling to compete with large private and public organisations to win contracts. Now is the time for social investors and social venture intermediaries to work together and with other potential funders to increase the supply of both capital and support these organisations need to win contracts and be able to deliver at scale."

The Prime Minister also mentioned increasing the credit flow to small organisations, following on from the Chancellor’s remarks yesterday about credit easing and lending to “unbankable” organisations. Jonathan Jenkins added:

“As an organisation that has a track record of lending to unbankable CSOs we welcome the Chancellor’s credit easing concept. We await the detail of how this will work in practice and whether it will be extended to social ventures as well as the traditional SME marketplace.” 

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1.    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

2.    The Social Investment Business, the largest 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

3.       The Social Investment Business manages the Futurebuilders Fund and the Social Action Fund on behalf of The Office for Civil Society, the Social Enterprise Investment Fund for the Department of Health the Communitybuilders Fund which was endowed to parent charity the Adventure Capital Fund by the Department for Communities and Local Government.  We have over 1,100 active investments which range in size and scope from, for example,  £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.