Social Enterprise UK has recently published research on Social Enterprise Day (16 Nov) that highlights that UK social enterprises generated £1.2 billion in profits over the last 12 months, with £1 billion being re-invested to further promote and develop on their vital social and environment missions.
Social Enterprise Day is a globally recognised day that highlights the colossal contribution that the sector has to the economy, communities and the environment. Additional research has proven the substantial benefits that social enterprises have in generating profits and then going on to reinvest them in ways to benefit communities across the globe.
In contrast, 2022 saw over £88 billion in dividends from FTSE 100 companies, against projected net profits of £170 billion, spending record sums to buy back their own shares to raise their value. Social enterprises promote a profoundly different way of conducting business, one where profits can be made and then re-invested to the benefit of the wider population and not to deepen social inequalities and increase climate change growth.
Commenting on the findings, CEO Peter Holbrook said: “We face huge and complex challenges, but social enterprise can offer solutions. Business can and must work in a way that actively benefits people and planet, sharing profit and power to drive real progress on the most pressing issues of our time. With a general election approaching, I urge all our political party leaders to consider social enterprise as the future of business.”