The RBS SE100 is carrying out research regarding the deliverability of the social enterprise. As per the 2011 index, the social enterprise sector is performing far better as compared to the rest of the UK economy. An average growth of nearly 90 percent has been recorded by the chief 100 social enterprises in 2011.
The development and impact of social enterprises is tracked by the unique RBS SE100 Index in the UK. Interested enterprises can apply to find a position in the SE100 Index, where prizes worth $38,827 are available. All information related to the success stories of social enterprises will be put in place by Matter & Co and the Royal Bank of Scotland.
Social enterprises can enter the index and avail its advantages for no extra cost. The enterprises only need to monitor and showcase their development and resulting impact to investors, associates, policy makers and consumers.
In a release, Duncan Sloan, head, Community Banking, RBS said, “The RBS SE100 Index has been designed to forge a deeper understanding of the many pioneering organizations engaged in enterprise for a social purpose. For over a decade RBS has been working to develop the social business sector, and as a bank we want to better understand this area so that we can offer the best service and products to help social enterprises to develop and grow."
The index will strive to identify the key performers in the sector by questioning the organizations' earnings and their methods of reporting the social impact. The SE100 team will reveal the RBS SE100 Growth Champion, Impact Champion and Trailblazing Newcomer winners in October.
Tim West, director, Matter&Co said, “We want the world to know that social enterprises are robust businesses doing great work to change lives and communities for the better - but stories alone are not enough. The SE100 Index is the first source of data on the growth of social enterprises in the UK, and its value to the sector increases with the number of organizations joining the index. If you’re a social enterprise, an enterprising charity, a co-op, or any organization in business to deliver positive social change, then we encourage you to sign up today.”
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Edited by Brooke Neuman