More than one million Scots have benefited either directly or indirectly from social enterprise over the last year, according to Social Investment Scotland’s 2017 Social Impact Report. Social Investment Scotland (SIS) provides loans to social enterprises, charities and community groups. In its annual survey, all of the customers surveyed said they expect the number of employees to grow over the next two years. However, overall turnover fell by a total of £9m last year to £182m. A quarter of social businesses reported having more financial independence, with no grant funding and relying on trading and other income instead – an increase of 7% on 2016. Around a third of SIS’s customers said employment, training and education was their main outcome area, and the report shows SIS approved £375,000 in investment for five organisations in this area over the last year. The report highlights the example of the Inverness Kart Raceway … (To read the full article, subscribe below)

jamiehailstone
Jamie Hailstone is senior reporter – NewStart