RBS and Social Enterprise
RBS has a long held commitment to work in partnership with the sector to improve access to expertise, markets and finance. Our work includes:
- Establishing the first ever specialist Community Banking Team in 1998 providing dedicated support for the social enterprise sector
- Publishing a supplier diversity code of conduct, which commits to increasing access for women-led, ethnic minority-led and social SME
- By the end of 2015 supporting 2,500 social enterprises working in partnership with the sector to improve access to expertise, markets and finance
- Since January 2013 RBS has invested over £2m into the social enterprise sector, which includes both financial and in-kind support
- RBS works with a range of partners to increase the size and strength of the sector and was a founding partner of Social Enterprise UK (SEUK)
- Offering loan funding to social enterprises through the RBS MicroFinance Fund of between £30,000 and £1 million.
Backed by the Cabinet Office and RBS, the Social Investment Awards have been established to highlight not only the significant impact that social investment is having on communities but also to showcase to investors the potential of a market which is set for future growth and for a move into the mainstream.
Social investment is designed to help charities and social enterprises do more. It is the provision of finance to generate social and financial returns. It can bring benefits both to enterprises and investors: for enterprises it can help improve financial innovation and growth, improve commercial skills and strengthen governance and accountability; for investors it provides another route to engage with social change with opportunities for financial return.
The UK social investment market is worth over £200 million and it is expected to climb to £1bn worth of investment in the UK by 2016. It is already supporting social enterprises that contribute over £55 billion to the economy each year.
David Treacher, RBS Managing Director of Public Sector and Charities said:
"Social Investment transforms communities; it creates jobs and stimulates vibrant economies up and down the country. That's why RBS has supported the sector for over 15 years. These awards, the first of their kind, recognise the hard work, passion and energy of entrepreneurs and investors, and showcase the real potential of investing in social projects throughout the UK."
The awards are free to enter and nominations are now open on the Social Investment Awards website until September 30.The winners of the five award categories will be recognised at the event hosted by RBS on the evening of 27 October.