Launch of Social Impact Report
Social Investment Scotland
Tonight at Our Dynamic Earth, Edinburgh, Social Investment Scotland (SIS) will be launching their Social Impact Report comprising of the result of new research amongst 58 social enterprises and community organisations that have been supported by SIS over the past ten years.
Customers were asked to rate both their impact on the communities or groups which they support and also the impact of working with SIS as a funding partner. SIS’s knowledge and understanding is perceived by customers to have played a central role in their success, with seven in ten (70%) customers reporting that SIS demonstrated a good understanding of the third sector. Nearly three quarters (74%) said that SIS’s investment has made a significant impact on their business.
“Despite the fact that social investment is now more common, funding is still a real challenge for social enterprises as there is increased focus on sustainability and reduced grant funding to tap into.
“It is now time to build on the expertise and knowledge SIS has developed, plus the excellent reputation the team has in the third sector, to grow the funds available and impact on even more organisations which can help to make a difference to the lives of many more people across Scotland.” Alastair Davis, Chief Executive, Social Investment Scotland
In the last ten years, Social Investment Scotland has supported 107 organisations in 23 of Scotland’s 32 local authorities with loans of more than £11 million. By recycling its funding, SIS is able to make the loan fund work hard for the third sector in Scotland. Projects that have benefited from the funding are worth in excess of £60 million and tackle a range of social issues including employment and training, health, arts and culture, care and the environment. SIS aims to grow its funds under management to £100 million by 2016.