Society reaps the reward of Co-op’s cash
MORE than £23 in community impact is generated by every £1 spent by Central England Co-operative, the retail group has revealed.
A report called Social Return on Investment (SROI) takes an in-depth look at the impact of the society’s community work during 2017 and focuses on the social value and return provided by its masterclasses, grants, workshops on healthy choices and ethical challenges, the installation of 300 defibrillators and a food and farming event.
Central England Co-operative said that for every £1 it spent on good causes was worth £23 in positive community impact across Birmingham.
The findings from the report, which was undertaken by SROI specialist Make an Impact, will now play a major part in shaping the future of the society.
Central England Co-op said it was the first co-operative of its type to publish an SROI report in 2016 and its overall figure then was £20 for every £1 spent on selected community projects.
Chief executive Martyn Cheatle said: “This amazing figure of £23.15 of impact for every £1 spent truly showcases how the society continues to make a real difference to people’s lives.
“This is the second time we have undertaken a robust analysis of our community impact and the SROI report continues to be great indicator of not just how we are doing but also helping us plan for the future.
“However, all of these great community projects are only possible due to the continued support and success of our trading businesses.
“Our ongoing commitment to support fantastic work in the community is underpinned by the strong financial performance of the society and a long-term strategy to grow the business in a sustainable way.”