30 Jan 2015
Government turning to 'angel investors' to back social enterprises
The Government is calling upon private investors and philanthropists to help solve issues such as homelessness and long-term unemployment. Social ventures are often much better positioned to provide the services required to meet the needs of local communities, provided that backing is available.
Francis Maude, Minister for the Cabinet Office, admitted that the Government was not able to tackle the issues alone:
“The best and most successful movements are always the ones that grow from the grassroots rather than top down. Social enterprises currently employ over 2m people and contribute £55bn to the economy each year. It’s a fantastic start but we’re only scratching the surface.”
It is estimated that only a handful of the 18,000 angel investors in the UK are 'social angels' - investors who put their money in businesses with a social or environmental purpose, where profit is not the main motivator. The Government would like to create a movement of 100 social investors that can inspire others to find ways to help local communities.
To get involved visit the Clearly Social Angels website.
< Back to latest news