The Buy Social Corporate Challenge is a simple initiative with a bold ambition:
A group of high-profile businesses is aiming to collectively spend £1 billion with social enterprises through their procurement.
Led by Social Enterprise UK in partnership with the Department for Digital, Culture, Media & Sport, the Buy Social Corporate Challenge was launched in Downing Street in April 2016.
The Buy Social Corporate Challenge does two things:
- It helps large businesses to engage with a range of innovative suppliers and embeds corporate responsibility and diversity into their core operations
- It helps high-performing social enterprise suppliers to grow their revenues and impact by tapping into corporate purchasing power
The premise is simple – if businesses need to spend money on products and services, why not spend that money in a way that maximises the positive impact on society?
Social Enterprise UK supports Challenge Partners to source from social enterprises through a package of strategic engagement, supply chain review, training, internal and external communications, brokerage and events. To find out more and join the challenge contact our business development team.
Click here, to take a look at a number of case studies on the relationships formed through the Corporate Challenge and the impact these partnerships have had.
The Buy Social Corporate Challenge began with 7 Founding Partners and currently has over 20 partners, representing a wide range of industries.
The most recent Impact Report shows that £91.5 million has been spent with social enterprises by corporate partners and the Challenge has created 1253 jobs at social enterprises.
The report also looks at company’s opinions of working with social enterprises, finding that 100% of Corporate Partners believe that they deliver goods and services at the same or better quality as existing suppliers.
New Partnerships and More Information
We are inviting forward-thinking businesses to get in touch with us to discuss how the Buy Social Corporate Challenge could help their businesses to unlock their spending power for good. To find out more please email Jennifer Exon or Andy Daly.
Find out more about our work with the private sector here.