innovation and social enterprise

Innovation: supporting the growth of social enterprise Nick TempleDirector, Business & Enterprise

Social Enterprise in the UK – a closer look

THE GOOD NEWS• 29% of all social enterprises are three years old or younger• 15% social enterprise leaders are BAME; 38% are women• 91% of leadership teams have at least one woman• 38% are based in the 20% most deprived areas (12% for normal SMEs)• 52% actively employ people disadvantaged from the labour market• Outstripping SMEs for growth in turnover (38% to 29%)• 56% developed a new product or service in the last year• 49% have some trade with the private sector• 11% export or licence their product / service abroad

BARRIERS / CHALLENGES• Procurement policy (for 34% working with pub. sector)• Access to (appropriate) finance - primary barrier• Marketing / awareness - two sides of same coin• Social impact measurement• Wide variations by geography, scale, markets

(largest are most likely to experience growth)

Social Enterprise in the UK – a closer look

THE GOOD NEWS• 29% of all social enterprises are three years old or younger• 15% social enterprise leaders are BAME; 38% are women• 91% of leadership teams have at least one woman• 38% are based in the 20% most deprived areas (12% for normal SMEs)• 52% actively employ people disadvantaged from the labour market• Outstripping SMEs for growth in turnover (38% to 29%)• 56% developed a new product or service in the last year• 49% have some trade with the private sector• 11% export or licence their product / service abroad

BARRIERS / CHALLENGES• Procurement policy (for 34% working with pub. sector)• Access to (appropriate) finance - primary barrier• Marketing / awareness - two sides of same coin• Social impact measurement• Wide variations by geography, scale, markets

(largest are most likely to experience growth)

• 56% developed a new product or service in the last year

• 43% is the equivalent rate in mainstream / traditional SMEs

What prompts innovation?

Poor performance

Income diversification

Cost & efficiency savings

Intractable social problems

New technology

New ideas & insights

Marketopportunity

DifferentiationUnmet customer

needs

What prompts innovation?

Poor performance

Income diversification

Cost & efficiency savings

Intractable social problems

New technology

New ideas & insights

Market opportunity

DifferentiationUnmet customer

needs

What prompts innovation?

Poor performance

Income diversification

Cost & efficiency savings

Intractable social problems

New technology

New ideas & insights

Market opportunity

DifferentiationUnmet customer

needs

What prompts innovation?

Poor performance

Income diversification

Cost & efficiency savings

Intractable social problems

New technology

New ideas & insights

Market opportunity

DifferentiationUnmet customer

needs

6 commandments of innovation:growth

1. Innovation isn’t an idea - it’s the implementation of an idea

2. Stay open - to learning, to partners, to networks,

to opportunity

3. Innovation is a collaborative activity

4. Make time for it - in plans, in diaries, in to-do lists…

look up!

5. Don’t ignore the big stuff

6. Keep it on mission, and scaling impact

JOIN: www.socialenterprise.org.uk

@SocialEnt_UK @nicktemple1

nick.temple@socialenterprise.org.uk