Jonathan Jenkins introduces our three year plan and how we plan on fulfilling our vision and mission in the coming years.
Social investment is not new. Here at Social Investment Business we have been providing finance to charities and social enterprises since 2002.
However, it does feel like this is an important time for the future of social investment. Over the past decade or so successive governments have worked alongside organisations like ourselves to put the foundations in place to develop a social investment market that can meet the needs and demands of charities and social enterprises
We now have a wholesale bank with £600m at its disposal and the task of ‘building the social investment market’. We have a tax relief, aimed at encouraging social investment from wealthy individuals. We even have a social investment foundation tasked with making it easier for charities and social enterprises to access the capital they need. The pieces are in place for us to make this market work. Now we need to get on with it and show that it does.
In this document we attempt to outline our core mission, our Theory of Change and our six key objectives for the next three years. This is our roadmap. It provides us with clear direction while giving us the flexibility we need in a changing world. It will help us decide what to prioritise and what we should be doing less of. It will also help us focus on whether what we do is working, and how we can improve.
To help charities and social enterprises do more of what they do best we will continue to deliver a diverse range of loan and grant programmes and improve the process of applying to our funds to make it as simple as possible.
To put ourselves in the best position to succeed, we will continue to safeguard our Foundation’s assets so that we can reinvest in the future and invest in our people and systems so we have the tools we need.
Finally, we will make better use of our data so that we know more about our impact and what our customers need. We will then use that data to help policymakers solve problems and design programmes.
We recognise the scale of our ambition but believe we are well placed to deliver on it. Our track record and expertise puts us in a great position to help more charities and social enterprises do more of what they do best. Now it’s up to us to go and do it.
Jonathan Jenkins was Chief Executive of Social Investment Business from September 2011 - March 2017.