According to independent analysis, the social enterprise sector makes a £60bn contribution to UK GDP, compared to £24bn in previous research.
Social Enterprise UK, the Co-op Group and Nationwide Building Society are calling on the government to take greater notice of the growing importance of the sector and back its growth through a comprehensive package of measures.
This would build on the Civil Society Strategy published last month and the Industrial Strategy published by government last year.
Measures could include:
- Using public procurement policy to support social enterprise through strengthening the Social Value Act
- Amending company law so that businesses have to give more regard to their social and environmental responsibilities
- Consider how the tax system can incentivise businesses which have a social as well as an economic impact on society
- Embedding social enterprise in the school curriculum so that young people are aware of the option of starting or working for a social enterprise
They say that 'without backing social enterprises, the country will struggle to remain competitive leaving communities up and down the country more vulnerable.'
The Hidden Revolution also brings together key statistics which show that social enterprises are more competitive than traditional firms, confirmed that social enterprises are the Future of Business.