A new report has revealed that the social investment arm of The Big Issue supported 184 social enterprises across the UK in 2020-21.
Those 184 social enterprises were then able to support over 1.16 million customers across the UK in the same period.
The organisation reported that over 62% of the 184 investees of the past year are based in areas of high deprivation, where capital can have the greatest social and economic benefits, including London, the North East and North West.
Investments in Scotland, the North East, East Midlands and the East of England have significantly increased during the period. For example, £5 million was invested in Scotland- based social ventures such as Eat Sleep Ride and social lettings agency Homes For Good.
Of the total number of investments, 16% support people living in poverty and/or financial exclusion, 11% support people living in precarious housing or who are homeless, 12% support vulnerable young people, 11% support people experiencing unemployment and 9% support people with mental health needs and conditions.
The report showed that 9,490 people are employed supported firms, who also rely on an army of 6,900 volunteers.
Danyal Sattar, CEO of Big Issue Invest, said:
In the past year, we have been inspired by the way that social enterprises and charities across the UK have responded to the unprecedented challenges faced by their communities whilst also overcoming challenges within their organisations. I am proud of the Big Issue Invest team who have worked tirelessly in supporting our investees to keep the lights on, adapt to new operating environments and to continue to deliver impact to their customers.
For more information and to download the 2021 Impact Report, please visit www.bigissueinvest.com.