A new 10-year vision to increase the number of social enterprises in Wales and their impact on the economy has been revealed.
Co-produced by social enterprises and sector agencies, with the support of Welsh Government, Transforming Wales through social enterprise, outlines a vision to see social enterprises become the business model of choice in Wales by 2030 delivering solutions to social, economic and environmental challenges.
There are currently 2,000 social enterprises in Wales, which have no external shareholders, employing 55,000 people and contributing over £3bn to the economy.
However, the vision doesn't set any targets for the number of social enterprises envisaged by 2030, as well as the number employed in the sector.
It sets out goals of:
- More people choosing to engage with social enterprises – as customers, employees, volunteers or leaders.
- The sector playing a greater role in tackling climate change and protecting the environment.
- Social enterprise being better able to exploit digital technology for social good.
- Good quality specialist business support, tailored to the needs of the sector, being available to everyone who needs it.
- Social enterprises being better connected to each other and speaking with a more unified voice.
- Adopting fair Work practices, paying the Living Wage and increase diversity amongst their employees and volunteers.
Menna Jones, chief executive of social enterprise Antur Waunfawr and spokesperson for the social enterprise stakeholder group for Wales, said: “The resilience and reaction from the social enterprise sector during Covid-19 has been impressive.
It has shown us the time is right for us to start respecting and trusting social enterprises to deliver real positive change in our communities and take on the social and economic challenges currently facing our country. But to rise to the challenges and exploit the opportunities of the next decade, the sector needs direction and conditions which will help social enterprises to rebuild and thrive.
“How can we create more opportunities for entrepreneurs in Wales to co-create and design solutions to social issues?
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“How can we encourage more local authorities and public bodies to include social enterprises in their supply chain?
“We believe this vision and action plan can be a blueprint for how we transform Wales through social enterprise over the next 10 years, helping people to rebuild from the effects of the Covid-19 pandemic, as well as addressing the global climate crisis.”
Lee Waters, Deputy Minister for Economy and Transport, said “Coronavirus is having a severe impact on our economy and the social enterprise sector has a key role in ensuring we not only recover, but build back better.
“The framework created by the sector rewards behaviours that reflect our values and contributes to a wider common good – this will be important for the fair and sustainable recovery we all want to see.
“As well as growing the sector, it also means hard-wiring social values and co-operative principles into the DNA of the wider economy.
“If this can be done, then there is huge potential for social enterprises and co-operatives to be the business model of choice over the coming years.”
The vision and action plan is a result of a comprehensive involvement exercise over the last 18 months which included survey work, consultation sessions across Wales and workshops at the national Social Business Wales conference.