About the Impact Economy
The Impact Economy is a collective term for all ‘not for personal profit’ organisations that exist to improve disadvantaged communities, support disadvantaged people and address social or environmental issues but do so using a trading (business) model to generate the majority or all the funds they need.
This includes Social Enterprise, Co-operatives, Mutual Benefit Societies, Community owned businesses, Charity trading arms and more.
The Social Economy in the WMCA area:
- Comprises 9,314 organisations
- They employ almost 103,000 people.
- They have a combined turnover of around £14 billion.
Growing the Social Impact Economy
Recognising the contribution these organisations make to creating an inclusive economy, the West Midlands Combined Authority set itself the goal of doubling the size of this economic sector within 10 years.
The approach to achieving this was to engage individuals working in the social impact economy to develop a plan for growth.
A Social Impact Economy taskforce was established. The results of this work and experience in implementation has resulted in a 12 point EcoSystem which will enable growth
Work has now started and investments made to start to build this ecosystem. See links below.
Get Involved
An opportunity for front line social economy organisations to talk about the barriers and opportunities for growth.
Where support and infrastructure organisations gather to develop solutions to barriers or to help realise opportunities.
These forums are managed by BSSEC. Email marketing@bssec.org.uk to find get involved and find out more.
Click on the links below for more information
Business and Place Support
Access to Finance & Contracts
Marketing, profile, education and awareness
