Local, fairer, stronger
Social businesses creating growth in Wales
Creating quality employment, attracting private sector investment, delivering vital local services and encouraging community cohesion, are just a few of the substantial benefits social businesses bring to Wales’ most socially deprived areas, a new report has evidenced.
Research published in 2017 estimates that the social business sector is worth £2.37 billion to the Welsh economy, supports approximately 40,800 jobs, and offers opportunities to volunteer to approximately 48,000 – 58,000 people.
The research undertaken for this study centred on eight case studies of social businesses that had experienced or were planning for growth. This produced rich insights that, in combination with existing evidence and analysis, allowed a consideration of how social business growth in Wales can be stimulated and supported.
Derek Walker, Chief Executive of the Wales Co-operative Centre
“In the current environment, which sees uncertainty regarding the effects of Brexit and potential massive investment in large-scale infrastructure projects via City Deals, social businesses offer a ‘ground up’ community-led approach to economic and community development. There is a considerable opportunity to further support social businesses to maximise their potential and allow them to make an even greater contribution to community regeneration in Wales.”
This report, is commissioned and published by Social Business Wales, an £11m European Regional Development and Welsh Government funded project, which is part of the Business Wales family and delivered by the Wales Co-operative Centre.