The Wates Group has set a target to work with a social enterprise on every project. In 2013 the group launched the first national Social Enterprise Brokerage (SEB) site in partnership with Social Enterprise UK (SEUK). They aim to generate trade of £20 million with the social enterprise sector by 2020. They commissioned NEF Consulting to evaluate the impact of this relationship with social enterprises and to help understand and articulate the social benefits of increasing the level of trade with the social enterprise sector.
A ROI exercise conducted by NEF Consulting showed additional social value in trading with social enterprises, compared to commercial businesses. Through direct business activities, the average social enterprise created £331,304 of social value per year compared to £187,607 created by the average commercial business – a ratio of 1.77:1. This was driven by greater diversity in the workforce at the top and bottom of organisations, and the provision of better quality jobs, which enhanced employees’ wellbeing. By buying services from social enterprises, Wates supports the creation of greater social value in local communities, which in turn helps to build stronger local economies and more sustainable communities.
For details download the Executive Summary report here.