Third sector organisations should measure their social return on investment if they want to gain more local authority contracts, said third sector minister Angela Smith today.
Speaking at Funding the Future, a funding event for the third sector in London, which boasted an attendance of 1,000 people, Smith highlighted the importance of social return on investment when answering a question about how the third sector can get more funding from local authorities.
She said: 'Part of the issue of social return on investment is to show how much you gain from investing in the work of the third sector and I think it's very useful for the third sector to prove the value of what they do.
'The sad thing is some local authorities engage much better than others with the third sector and part of it is proving and showing and engaging people with the benefits of what you do.'
...as Susan Boyle might have sung. On SocialEnterpriselive.com this week:
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