Creating Enterprise CIC has created 40 jobs for out of work Cartrefi Conwy tenants in the last 18 months
The social business sector in Wales is worth £2.37bn to the Welsh economy and supports around 40,800 jobs, according to new research by Social Business Wales.
The ‘Mapping the Social Business Sector in Wales’ report identified a total of 1,698 organisations as operating in the social business sector in Wales, which includes co-operatives, mutuals, social enterprises and employee owned businesses. The report is based on survey data from 810 organisations, representing 48% of the sector.
The key findings are:
Social Business Wales is an £11m European Regional Development and Welsh Government funded project, which is part of the
Glenn Bowen, director of enterprise at the Wales Co-operative Centre, said: “There is clear evidence of a growing, increasingly confident and entrepreneurial social business sector in Wales that is built upon strengthening foundations.
"The report suggests that the sector has experienced real growth in the two years since the last in-depth research was carried out.
"It offers a snapshot of a sector that is dynamic and responsive and is constantly looking to evolve and offer new products and services."
He added: “Social businesses are often formed as a result of issues identified at a grassroots level by a local community. T
"hey plug gaps in provision and, in some cases, grow through innovative delivery and defining services in direct response to their community’s needs.
"In the current environment, which sees uncertainty regarding the effects of Brexit and potential massive investment in large-scale infrastructure projects via City Deals, social businesses offer a ‘ground up’ community-led approach to economic and community development.”
Ken Skates, Welsh Government cabinet secretary for economy and infrastructure, said: “I very much welcome this report which reaffirms the huge and growing contribution that social businesses make to Welsh life.
"The sector is now worth an incredible £2.37bn to Wales and provides jobs and volunteering opportunities to around 100,000 people.
"Importantly it also provides crucial services in our communities, plugging gaps in private and public sector provision and helping to improve educational attainment, provide social care in people’s houses and reduce inequality, particularly in our most deprived communities.
“As a government we are committed to working closely with social businesses to help them to thrive and grow. This commitment will be central to delivery of our four cross cutting governmental strategies due to be published shortly and our new social enterprise framework which we plan to publish later this year.”
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