Social enterprises show way forward

Social enterprises – businesses that trade with a social or environmental purpose – are outperforming the rest of the UK economy in terms of growth, according to data published by the RBS SE1001 Index.

The top 100 social enterprises across the UK in the index grew on average by 91 per cent, compared to 79 per cent last year. The RBS SE100 data report shows that social enterprises in Yorkshire and North Lincolnshire recorded an average growth of 31 per cent. The highest growth region is Wales at 71 per cent.

The survey also shows that social enterprises in Yorkshire and North Lincolnshire recorded an average turnover of £1.25m.

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By contrast, the average turnover in the most successful region, the South West, was £7.06m.

Peter Ibbetson, chairman of small business at RBS, said: “The SE100 helps us demonstrate the unique role this sector plays in terms of its social impact and rapidly increasing contribution to the UK economy. RBS has a strong heritage in supporting social enterprise.”