This report has been produced by The Association of Financial Mutuals, The Building Societies Association, Co-operatives UK, EOA and Social Enterprise UK, which between them represent mutuals, cooperatives and social enterprises operating right across the UK economy, and which employ over 2 million people.

A YouGov survey in July 2020 showed 85% of consumers would prefer to buy from businesses that had a strong record for good conduct. Even before Covid, business groups had begun to see that a greater recognition of the role of business in, and impact on, society was required – and a reawakening of the question of purpose – why does a business exist, what societal need is it seeking to address, and how does it deliver this?