New Social Entrepreneurs Program Launched in UK
The program will be launched in April 2012, and will be run by the School of Social Entrepreneurs (SSE) with funding from the Lloyds Banking Group. The goal of this partnership is to support 500 promising social entrepreneurs across the UK over the next five years.
These social entrepreneurs will receive comprehensive support from the SSE to grow community and social enterprises. The program will focus on supporting 100 social entrepreneurs each year through its innovative learning programs along with a financial grant which will range between £4,000 and £25,000.
New Philanthropy Capital has evaluated the previous programs run by SSE, and going by its track record, the new program could eventually impact the lives of more than 800,000 people and create 2500 new jobs with an estimated valued of £11m.
Lloyds Banking Group Social Entrepreneurs program aims to build a lasting legacy across the country, developing skills, networks, resources and confidence of 500 promising local individuals who are already working in their respective communities to address a social need.
The Community and Sustainable Business Director of Lloyds Banking Group, Paul Turner, said: "This programme will leave a powerful legacy in communities across the UK. SSE's track record made them a partner of choice and we are incredibly proud to be able to support them in this way."
The School for Social Entrepreneurs Chief Executive, Alastair Wilson, said: "We are delighted that Lloyds Banking Group has taken the lead in making such a significant commitment to supporting social entrepreneurs. Economic growth and regeneration in the UK will come from people working locally. This partnership will make a real and lasting difference."
The School for Social Entrepreneurs has been supporting social enterprise efforts since 1997. It has helped its students develop social enterprises that directly address local issues that affect their communities. The participant enterprises have shown a 20 percent higher rate of survival compared to traditional businesses, which reveals the kind of impact SSE’s support is making on social enterprise in the UK.
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