Published: 25th Sep 2018

A new report published by SocialEnterpriseUK has revealed that the Government has underestimated the contribution social enterprises make to the UK economy. Government estimates suggest there are 70,000 social enterprises, worth £24bn to the UK economy, but SocialEnterpriseUK’s research claim this is a significant underestimate as it excludes large social enterprises such as building societies and many co-operatives. In total, the report says social enterprises are worth £60bn to the UK economy and employ 2 million people. This represents 3% of UK GDP, three times the size of the agriculture industry, and 5% of employment, as many jobs as the creative industries sector. Government estimates of the number of social enterprises have been based on the Small Business Survey (SBS), so SocialEnterpriseUK studied Companies House for larger businesses currently trading that were missed by the SBS survey. ‘Our analysis estimates that social enterprises are worth billions more to the UK economy … (To read the full article, subscribe below)