SIS: A Positive Impact on 5.4 Million Lives
The annual Impact Report from Social Investment Scotland (SIS) reveals that over 5.4 million individuals reaped the benefits of initiatives and organisations funded with the assistance of SIS in the previous year.
During the period from April 2022 to March 2023, SIS directed more than £47.5 million in active loans and investments into 201 social enterprises, marking a notable increase of £6.5 million compared to the prior year, when the figure stood at £41 million.
SIS, either directly or indirectly, positively impacted 5.4 million people residing in Scotland, England, and Wales, representing a significant uptick of over 20% (1.1 million) in contrast to the 2021-22 figures. This growth underscores SIS's strategic plan of "Turning up the Volume" in the post-pandemic era.
Notably, nearly one-third of the charities and social enterprises that collaborated with SIS in the preceding year secured loans under £50,000, underscoring the pivotal role that SIS plays in linking smaller, community-based charities and groups with vital financial resources. SIS's supported activities spanned all of Scotland's 32 local authorities, with an overwhelming 98% of beneficiaries situated in Scotland.
Over the past year, SIS's market-building team facilitated the participation of more than 900 individuals in training events and workshops. These included noteworthy initiatives like Circular Economy 360, a collaborative effort with Zero Waste Scotland, the Ambitions Programme for leadership development backed by the Postcode Innovation Trust, and CultureXcelerator, which provided strategic support to creative industries in partnership with Creative Scotland.
In the year 2022-23, SIS took the lead in launching the Financial Inclusion for Scotland, uniting Scotland's foremost policymakers and professionals from various sectors to address financial exclusion. Furthermore, the Social Enterprise Just Transition Fund, managed by SIS and supported by the Scottish Government, enjoyed an extension after a successful pilot year. During this period, seven social enterprises in the North East of Scotland received financial backing for sustainable projects.
Alastair Davis, the CEO of Social Investment Scotland, emphasised the need to amplify their efforts to foster a more equitable, environmentally friendly, and fair society. He underlined SIS's increased innovation and collaboration with partners and stakeholders to support organisations making a tangible and lasting impact across Scotland and beyond. The augmented impact is a testament to their collective commitment to making a quantifiable and sustainable difference in people's lives.
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