Social Enterprises thrive across Midlands

by Luke Stott

Social Enterprises thrive across Midlands

by Luke Stott

by Luke Stott

78% of Midlands social enterprises made a profit or broke even last year compared to a UK average of 74% – according to latest figures from the Midlands Engine Observatory released to mark Social Enterprise Day (11 November).

A report into the State of Social Enterprises within our region also found that 82% have or plan to embed tackling the climate emergency into their constitution, compared to two thirds nationally.

A larger proportion of our region’s social enterprises also believe that the social and environmental friendliness of a product is as or more important than cost.

A social enterprise is an organisation that applies commercial strategies to maximise improvements in financial, social and environmental well-being—this may include maximising social impact alongside profits for co-owners.

In the Midlands social enterprises contribute to all areas of both the economy and society and are particularly likely to operate in deprived areas and hire local people, particularly women and people from minority ethnic communities.

They also work with some of the most disadvantaged people in our society including those with mental health difficulties and disabilities.

Despite the challenges posed by COVID-19, these companies in the Midlands Engine have proven resilient and regional turnover was more likely to have increased in the last year compared to the national average.

However, that turnover is still lower than average – £81,000 a year compared to £136,000 in the North East which leads to staff in Midlands social enterprises often being paid less than the national average for organisations of this kind.

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