Working with partners from across the social economy, we have written to the Chancellor to outline a number of proposals for the upcoming Comprehensive Spending Review, which will broadly decide Government spending for the next three years.
We believe the social sector will play a crucial role as the country faces a huge economic and social challenge in recovering from the impact of the Covid-19 pandemic.
We need to level up the country to close the gap between parts of our nation. To do this, we are going to need a mixture of public investment, better public services and a strong economy. Social enterprises, co-operatives and community businesses have a strong track record in all three areas:
- Their legal structures encourage reinvestment into the areas that they work in, boosting capital in places which need it most
- They bring innovation to the public sector through empowering staff, communities and entrepreneurs
- They have a track record of creating new businesses and jobs in the toughest markets – performing better than many of their peers in the private sector
We have put forward four key proposals, which we believe can help get the UK back on its feet after the shock of Coronavirus:
- Trade to Recovery – a match trading scheme to support social enterprises through difficult COVID trading conditions
- Social Enterprise Fightback Fund – a programme to help a new wave of start ups which have emerged during the COVID crisis
- Project Restart – a fund to support the communities take over failing businesses and turn them around as social enterprises, cooperatives and community businesses
- Community Entrepreneurship Zones (CEZs) – a place-based initiative to help groups of social entrepreneurs within local communities