Social investment benefits a million Scots

More than one million Scots have benefited either directly or indirectly from social investment over the past year, a study today indicates.

Social Investment Scotland (SIS), the lender to the third sector, said the activities of its customers had benefited 1.09 million people over the past 12 months. Of these, 38 per cent are estimated to live in Scotland’s most deprived areas.

The lender’s latest social impact report also shows that while the total turnover reported for the last full financial year by 127 customers fell by £9 million to £182m, the number becoming “financially sustainable” – seen as a key success indicator – increased. Some 25 per cent of customers reported no grant funding, relying on trading and other income instead, up 7 percentage points on 2016.

Seven in ten organisations expect an increase in turnover from the last full financial year to the current period, up marginally on 2016, while all expect the number of employees to grow over the next two years.

SIS chief executive Alastair Davis said: “It’s very rewarding to see the benefit of our social investment reaching into so many communities across Scotland. While economic conditions over the past year have been testing, our customers remain broadly optimistic about both their revenue and employment prospects over the coming years.”

Nick Kuenssberg, SIS chairman, added: “As one of the UK’S leading responsible finance providers, SIS will continue to retain a singular focus on increasing social impacts across Scotland.” 0 Alastair Davis – clients remain ‘broadly optimistic’