Deloitte investment in social enterprise sector tops £5m
14 October 2015
- Firm to invest £1m in UK employability related social enterprises through 11 new Deloitte Super Pioneers;
- A further £1m has been spent with social enterprises through its supply chain;
- Deloitte Social Innovation Pioneers has already supported 58 social businesses since 2012, providing £3m of support.
Deloitte, the professional services firm, has announced that it is investing £1 million of time and expertise to boost UK employability. Through its Deloitte Social Innovation Pioneers programme, the firm has this year committed to support eleven ‘Super Pioneers’, all of which have ambitious plans to increase job opportunities in the UK.
The Super Pioneers include:
- Modern Muse, a social enterprise which aims to inspire and engage the next generation of female business leaders and entrepreneurs;
- The Employability Trust which helps unemployed people in the North East develop the skills they need to secure long term employment; and
- Future First, which coordinates an alumni programme for state schools to help boost social mobility.
David Barnes, managing partner for corporate responsibility, said: “This year, we have prioritised employability as part of a targeted approach to working with social businesses that are tackling this important issue. We recruit 4,500 young people every year so improving employability and social mobility is a strategic priority for the firm. We are proud that Deloitte’s expertise will be used to make a real impact on this issue.”
Deloitte Social Innovation Pioneers has already worked with 58 social businesses across the UK, providing £3m of support. More than 2,000 of its people have been engaged in the programme and 15,000 hours of time and expertise have been received by the social enterprises. On average, the 58 Pioneers increased turnover by 38% per year and two hundred new jobs have been created to date. The report estimates the total amount of value added at more than £4.5m over the first three years of the programme so far.
Ben Allen, CEO and founder of last year’s Pioneer, Oomph! Wellness, said: “The most significant impact has been the quality and quantity of introductions to senior management at major corporates in our sector. We have already converted around £300k of business off the back of these introductions with another £200k of contracts lined up.”
In addition, the firm has now exceeded £1m of investment in the social enterprise sector through its supply chain. The firm already receives services from former Pioneers including From Babies with Love, House of St Barnabas, Debate Mate, Connection Crew and Elvis and Kresse. Deloitte has now awarded its UK stationery contract to WildHearts Office, part of the WildHearts Group. One of this year’s Super Pioneers, WildHearts provides employability and entrepreneurship training in the UK and funds microfinance in the developing world.
Mick Jackson, founder of WildHearts, said: “Becoming a Deloitte Social Innovation Pioneer in 2013 was transformative for WildHearts; our B2B office supplies business grew exponentially and Micro-Tyco* went from an exciting new idea to an award winning talent development programme for schools, universities and global brands. The fact that a brand as prestigious as Deloitte is now a WildHearts Office customer is deeply significant. It demonstrates that a social business can service large corporate accounts and the implications for the future are very exciting.”
For more information on the Deloitte Super Pioneers programme, please visit: www.deloitte.co.uk/pioneers
Notes to editors
*The Deloitte Micro-Tyco Student Challenge, run by WildHearts, sees teams from schools and universities across the country competing to turn £1 seed capital into as much money as possible.
The Deloitte Super Pioneers programme is a new iteration of the Deloitte Social Innovation Pioneers programme. Super Pioneers will focus on one priority social issue to help grow the programme’s impact through a more targeted approach. The Super Pioneers programme will support social businesses that improve employability skills and employment opportunities and have ambitious plans to grow their business and scale their social impact over the next 12-18 months.
The Super Pioneers will have access to a broad range of services within Deloitte, allowing a tailored support package to be developed matched with the individual organisation’s needs. The key elements of this support are as follows:
- SCOPE – the programme will kick off with a business strategy review to identify Pioneers’ social business objectives and aims for the programme.
- DELIVER – Pioneers will be assigned a Deloitte relationship team and receive pro bono support, using skills from across the firm, to tackle their challenges. Specialist advisors will also be available for support on specific areas.
- IMPACT – Deloitte will work with the Super Pioneers to maximise their impact by assisting them with contracts, investments, partnerships, supply chain opportunities and exploring joint ventures.
The theme for this year's Super Pioneers was identified using the Social Progress Index (SPI), a measurement framework supported by Deloitte that focuses on social and environmental indicators. Employability emerged as one of the themes with the highest opportunity for social impact and the best alignment to Deloitte’s core skills.
The 2015 Super Pioneers are:
In this press release references to Deloitte are references to Deloitte LLP, which is among the country's leading professional services firms.
Deloitte LLP is the United Kingdom member firm of Deloitte Touche Tohmatsu Limited (“DTTL”), a UK private company limited by guarantee, whose member firms are legally separate and independent entities. Please see www.deloitte.co.uk/about for a detailed description of the legal structure of DTTL and its member firms.
The information contained in this press release is correct at the time of going to press.
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