Social Business Trust (SBT) brings together a consortium of leading businesses to work collectively in supporting a select portfolio of 20 social enterprises to grow their reach and impact.
Through SBT, its corporate partners – Bain & Company, British Gas, Clifford Chance, Credit Suisse, EY, IBM, Permira and Thomson Reuters – have now collectively given cash grants and business support worth £12.3m to those high-growth-potential social enterprises, selected from reviews of over 900.
This total includes 25,000 hours of business support from their staff, including 5,800 hours in 15/16 to help those social enterprises build capacity with the aim of achieving national scale or significance. Assistance comprises strategy development, financial modelling, legal advice, IT support and more.
Successes include London Early Years Foundation, now the UK’s biggest social enterprise nursery chain and The Challenge, now the largest provider of the National Citizen Service.
In 2016 SBT reached a significant milestone: achieving an ambitious objective set at launch in 2010, to help a cumulative 1,000,000 people in need through its social enterprise portfolio, including 531,000 beneficiaries in 15/16 alone.
SBT’s primary focus is on tackling educational disadvantage but it also addresses other social issues, including elderly care, re-offending and mental health.