This week sees a celebration of 3 years of the Buy Social Corporate Challenge, SEUK’s government-backed initiative to help big businesses open up their supply chains to social enterprises.
Achieving an impressive £65.2 million in cumulative spend since launched, the Corporate Challenge has seen a wave of new businesses sign up this year: ENGIE, Lendlease, Nationwide, SAP and Willmott Dixon. The variety in the new partners is further demonstration that ‘social procurement’ works for companies in any sector – from energy and construction to professional services and technology.
The Year 3 Impact Report, launched at a special House of Commons event on Wednesday, reveals that:
- Buy Social Corporate Challenge partners have collectively spent over £65m with approximately 250 social enterprises over the 3 years.
- Jobs created by social enterprises as a result of the Corporate Challenge have nearly doubled from 329 for the first two years to 637 direct jobs created to date.
- 100% of Buy Social Corporate Challenge partners surveyed stated that social enterprise suppliers are of higher or equal quality to their mainstream competitors.
Among the report’s key findings are:
- Corporate contracts are helping social enterprises to diversify their product and service lines and expand their delivery geographically
- Social procurement is a powerful way to engage your key stakeholders, such as employees and clients
- Social enterprises are driving a more strategic collaboration with Tier 1 providers
The full report can be downloaded here
Social Enterprise UK welcomes the growing momentum in corporate engagement, and invites forward-thinking businesses to get in touch to discuss the added value in working with social enterprise suppliers.