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80 per cent growth revealed as RBS SE100 leaders get £25,000
'The RBS SE100 is a hugely important tool for proving the success and potential of social enterprise. Already it shows phenomenal growth, which will boost confidence in the sector and open doors to private finance'
Civil Society Minister Nick Hurd
The top 100 highest growth social businesses in the UK have been revealed at a major awards event that saw the high achievers sharing £25,000 in prizes.
The 100 highest growers on the RBS SE100 Index have achieved average annual growth in revenue of almost 80 per cent.
The combined turnover of all 350 social businesses that submitted information to the index was £812m and the average turnover of all organisations on the index was more than £2.4m.
Some 86 per cent of index participants who submitted information had a public statement about their impact, and 66 per cent had impact targets set by their boards.
The figures were revealed in the RBS SE100 Data Report, which contains more than 60 pages of statistics and case studies on growth and impact in different markets and regions.
The report was launched by Minister for Civil Society Nick Hurd and Ian Cowie, CEO, Business and Commercial Banking, at RBS bank, who sponsored the index.
Hurd and Cowie also handed out awards to the RBS SE100 Growth Champion, Impact Champion and Trailblazing Newcomer.
Mow & Grow, based in Lowestoft, which gives those furthest from the job market – including ex-offenders and the long-term unemployed – training, jobs and life skills mentoring through gardening vulnerable people’s homes, was crowned Growth Champion.
Its income grew by 710.73 per cent and it created hundreds of new training positions from the end of January 2009 to January 2010.
Liverpool based FRC Group was crowned Impact Champion thanks to its efforts in measuring and reporting the social and environmental impact of its furnishing and recycling businesses.
Create Foundation CIC, of Leeds, was named the Trailblazing Newcomer, the award given to organisations with fewer than three years of accounts, thanks to its impressive impact reporting and its 88 per cent growth in turnover recorded from 2008 to 2009.
The three champions will now share £25,000, 25 days business consultancy and the growth and impact winners will also receive free trips to next year’s Social Enterprise World Forum in South Africa.
The RBS SE100 Index Data report is the first publication of its kind to compile data on the growth and impact of the sector broken down by region, business markets and types of social businesses.
Minister Nick Hurd said: ‘The RBS SE100 is a hugely important tool for proving the success and potential of social enterprise. Already it shows phenomenal growth, which will boost confidence in the sector and open doors to private finance.
‘The government has a powerful vision for a “Big Society” in which we all must contribute to the common good. Social enterprises will have a greater role to play in the future and we are committed to supporting them through initiatives like the Big Society Bank which will further improve finance options.’
RBS’s Ian Cowie said: ‘RBS has been committed to the social enterprise market in the UK for over a decade, and we are thrilled to be driving this pioneering initiative. The RBS SE100 Index, which is the first of its kind, will prove to be a really valuable benchmark for the entire social enterprise sector.’
School for Startups founder Doug Richard also spoke at the event and appeared in a special film to celebrate the themes of ‘growth, impact and ambition’ in the index. Richard, a former Dragons’ Den star, said: ‘The growth that the index shows is very promising. I believe we can harness the power of entrepreneurship to solve social problems through social enterprises. They offer the best hope for the UK’s immediate economic recovery and long-term prosperity.’
The RBS SE100 Index is open to any organisation delivering social, environmental or economic change, and it measures organisations based on three sets of information: market segment, turnover and social impact.
It is created by Social Enterprise in partnership with RBS, and is supported by O2, Buzzacott chartered accountants, the SROI Network and The Wise Group.
To learn more about the index champions view our films or download the RBS SE100 Data Report using the link below.