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PM pledges funding for social enterprise |
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| 27/02/2008 | |
| An extra £37m is to be set aside for social enterprise ventures, Gordon Brown announced today to delegates of Voice08, the annual social enterprise conference, held in Liverpool. The Prime Minister revealed that £10m was to be put into a new risk capital fund for social enterprises. Also announced was the addition of £27m for the Social Enterprise Investment Fund in health and social care, bringing the total for that fund up to £100m so far. Brown said social entrepreneurs had that rare mix of idealism and dogged determination that makes change happen. According to figures from the government's annual small business survey there are over 55,000 social enterprises in the UK with a combined turnover of £27bn. Social enterprises account for 5% of all businesses with employees and contribute £8.4bn per year to the UK economy, equating to 1% of annual GDP. |
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