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Presentation for Social Enterprise Wales conference about how innovation can help social enterprises grow and sustain in difficult times.
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Innovation: supporting the growth of social enterprise Nick TempleDirector, Business & Enterprise
Social Enterprise in the UK – a closer look
THE GOOD NEWS• 29% of all social enterprises are three years old or younger• 15% social enterprise leaders are BAME; 38% are women• 91% of leadership teams have at least one woman• 38% are based in the 20% most deprived areas (12% for normal SMEs)• 52% actively employ people disadvantaged from the labour market• Outstripping SMEs for growth in turnover (38% to 29%)• 56% developed a new product or service in the last year• 49% have some trade with the private sector• 11% export or licence their product / service abroad
BARRIERS / CHALLENGES• Procurement policy (for 34% working with pub. sector)• Access to (appropriate) finance - primary barrier• Marketing / awareness - two sides of same coin• Social impact measurement• Wide variations by geography, scale, markets
(largest are most likely to experience growth)
Social Enterprise in the UK – a closer look
THE GOOD NEWS• 29% of all social enterprises are three years old or younger• 15% social enterprise leaders are BAME; 38% are women• 91% of leadership teams have at least one woman• 38% are based in the 20% most deprived areas (12% for normal SMEs)• 52% actively employ people disadvantaged from the labour market• Outstripping SMEs for growth in turnover (38% to 29%)• 56% developed a new product or service in the last year• 49% have some trade with the private sector• 11% export or licence their product / service abroad
BARRIERS / CHALLENGES• Procurement policy (for 34% working with pub. sector)• Access to (appropriate) finance - primary barrier• Marketing / awareness - two sides of same coin• Social impact measurement• Wide variations by geography, scale, markets
(largest are most likely to experience growth)
• 56% developed a new product or service in the last year
• 43% is the equivalent rate in mainstream / traditional SMEs
What prompts innovation?
Poor performance
Income diversification
Cost & efficiency savings
Intractable social problems
New technology
New ideas & insights
Marketopportunity
DifferentiationUnmet customer
needs
What prompts innovation?
Poor performance
Income diversification
Cost & efficiency savings
Intractable social problems
New technology
New ideas & insights
Market opportunity
DifferentiationUnmet customer
needs
What prompts innovation?
Poor performance
Income diversification
Cost & efficiency savings
Intractable social problems
New technology
New ideas & insights
Market opportunity
DifferentiationUnmet customer
needs
What prompts innovation?
Poor performance
Income diversification
Cost & efficiency savings
Intractable social problems
New technology
New ideas & insights
Market opportunity
DifferentiationUnmet customer
needs
6 commandments of innovation:growth
1. Innovation isn’t an idea - it’s the implementation of an idea
2. Stay open - to learning, to partners, to networks,
to opportunity
3. Innovation is a collaborative activity
4. Make time for it - in plans, in diaries, in to-do lists…
look up!
5. Don’t ignore the big stuff
6. Keep it on mission, and scaling impact
