APPG for Philanthropy and Social Investment Roundtable
The APPG for Philanthropy and Social Investment held a roundtable on Tuesday, 25 April, with a focus on how social impact investment can help drive innovative solutions to some of the UK’s biggest challenges. The roundtable was an opportunity to hear from social enterprises about how they have driven positive change using innovative social finance and from investors about why they are investing in social impact. At a time when public spending is under increased pressure and social need is growing, there is an urgent need to explore how to unlock more private capital for public benefit. The discussion highlighted some of the successes of the last decade such as how unused dormant assets have been harnessed to grow the market for social impact and also some of the challenges and obstacles to further growth and reach of investment. The roundtable discussed how to build on this momentum accelerating long-term sustainable benefits for communities across the UK.
- The UK has led the world using dormant assets to build a vibrant social impact investment market which has grown tenfold in a decade to nearly £8 billion today.
- Thousands more enterprises, from small community businesses to large social enterprises and charities, have been able to access finance to grow and tackle a range of social issues.
- These investments help the communities most in need. 42% of all social impact investment deals have been in the top priority 1 areas for levelling up.
- The government announced recently that social investment will remain a beneficiary of the Dormant Assets Scheme and is now considering its financial allocation from the £800 million expected over the next decade.
- Social enterprise, investors, and business leaders have called for some of the funds to be used for a Community Enterprise Growth Plan to expand the reach of support for enterprises to communities that have not benefitted in the past.
- Social Outcomes Partnerships are a tried and tested mechanism to support the government to deliver innovative public services, in a data-driven way that will drive greater impact for individuals at better value for government.
Rushanara Ali MP, Co- Chair of APPG for Philanthropy and Social Investment
Danny Kruger MP, Co- Chair of APPG for Philanthropy and Social Investment
James Westhead, Executive Director, Head of Engagement, Big Society Capital
Jamie Broderick, Deputy Chair, Impact Investing Institute
Christina Murrell, Managing Director, Veterans at Ease
Matt Smith, CEO, The Key Fund
Julie Randles, CEO, Power 2
Mila Lukic, CEO and Founder, Bridges Outcomes Partnerships