Social Stock Exchange (SSX)
Pauline Hinchion (SCRT)
The SSX, with the strapline ‘Where Profit meets Purpose’, was launched in 2013. The aim of the SSX is to create local stock exchanges across the UK so that ‘profit with purpose’ organisations seeking to address local social and environmental needs can access the necessary finance from local investors using local money. Thereby maximising the local impact for investors.
Although any new financial initiative that aims to grow businesses that are focused on ‘more than profit’ is to be welcomed as indeed is the opportunity to use local social capital to meet local needs, the SSX will ultimately only be of interest to enterprises looking for significant investment. As such it will have little relevance to most of the Scottish Third Sector.
It most certainly will not meet the current financial needs, of the majority of the third sector, for micro loans, unsecured loans or cheaper finance.