5% of UK firms are social enterprises
The social enterprise sector represents five per cent of all businesses with employees in the UK, according to figures published last week.
The statistics, unveiled by third sector minister Ed Miliband, show that at least 55,000 firms -with an annual turnover of £27 billion -are classed as social enterprises.
The figures, based on the Government’s annual small business survey and data from the social enterprise sector, appear to show that the sector has experienced huge growth over the last year.
Statistics published last year by the Department of Trade and Industry revealed that there were 15,000 social enterprises with a turnover of just under £18 billion.
But Social Enterprise Coalition chief executive Jonathan Bland said previous figures were an underestimate as they only looked at a ‘limited range of legal forms and missed some of the more significant social enterprises’.
Source: Regeneration and Renewal magazine