Social Enterprise UK have released the latest State of Social Enterprise report, and the results might surprise even veterans of the sector.
The report shows that social enterprises are outperforming their mainstream SME counterparts in nearly every area of business - this includes workforce and turnover growth, job creation, and start up rates.
Key findings include some encouraging statistics:
- Almost half (49%) of all social enterprises are five years old or less. 35% are three years old or less – more than three times the proportion of SME start-ups. In terms of new business formation in the UK, social enterprise is where the action is.
- 52% of social enterprises grew their turnover over the past 12 months, whereas only 40% of mainstream SMEs did the same.
- Moving away from the money, and to the people behind it, 41% of social enterprises created jobs in the past 12 months compared to 22% of SMEs. The people leading these social enterprises are also highly diverse: women make up 40% of social enterprise leaders, Black Asian Minority Ethnic are 31% of directors, and 40% of social enterprises have a director with a disability.
These are just a handful of the key findings from the report; the full report details much more on how social enterprises are operating and their success in the markets, and what barriers social enterprises are coming up against.
You can download the report here.
To find out more about the State of Social Enterprise report, you can visit SEUK's website.