Blog & News.
Blog & News.
During the days of 8-12 April 2019 all BASET partners - KISMC, CEED Bulgaria, IDEC, Caban Capital and Creative District, together with investors, finance professionals and lecturers, experts and social ventures from Bulgaria, Greece, Belgium and the UK, took part in a 5-days training in London under the project BASET: Boost Aid for Social Entrepreneurship through Training, co-financed by the Erasmus+ Programme of the European Union.
The training, which was organised and hosted by the BASET project partner - Caban Capital, aimed at delivering a brief overview of the project, its target groups, main objectives and results so far, and more specifically the details of the 3rd intellectual output: Train the Investors Handbook (TIH).
All participants had the opportunity to support and contribute to the BASET project, as well as learn more about training methods in investing in social ventures as well as provide feedback on the current status of the development of TIH. There were discussions on impact investment and raising funds for social impact, impact measurement as well as challenges in attracting financing for impact, case studies and best practices in angel investment in social enterprises. Moreover, as part of the training, there was a workshop on choosing appropriate business models and marketing strategies for social entrepreneurs.
Additionally, views were exchanged on important areas within impact investment and investing in social enterprises with a social mission such as the role of the Sustainable Development Goals (SDGs) of the United Nations, how crucial the size of the market is when investing in impact as well as the tenacity of those leading social impact projects. During the training and discussions among all participants, a number of factors playing a key role within the impact investment training domain regarding investors were concluded: empathy, impact first - then profit, measuring impact, SDGs, selection process, prioritizing, sustainability and circular economy, data, business models, country legislation, risk, value, ROI, collaboration and consciousness.
Despite the training and overview of the intellectual outputs - TIH, the participants from all countries, invited by the project partners, actively took part in a specially organised by Caban Capital tour for experiencing the social impact ecosystem in London with the support of Social Enterprise Experience Tour. The tour demonstrated a range of innovative social enterprises in developing areas in London. The enterprises were:
- Shine - a community-led space to shine, a place for people in Haringey to grow ideas and build networks within the local community;
- Blue House Yard - a redevelopment and re-imagining of an empty and underused site in London; a transformed area for local creatives, entrepreneurs and residents to use for period of 5 years;
- Cakes & Ladders - a board game cafe with a conscience; a double-decker bus in the heart of Wood Green selling locally sourced coffee, cake & toasts, alongside ale and over 500 board games on board;
- Green Rooms - a London's arts hotel; a social enterprise offering affordable accommodation and event spaces inspiring creativity.
Additionally, Eddie Capstick and Gianprietro Pucciariello's, who are change makers of the social impact's ecosystem in London as well as far beyond, and founders of Appymaps - an app mapping the social impact ecosystem - social businesses within communities, presented their new and exciting impact project to all the participants.
Currently, Appymaps is focused on 3 things:
In June 2019, their London Social Impact Map reached 10.000 views.
All the above organisations presented their case studies, best practices and challenges to the participants as part of the social impact ecosystem in London. They demonstrated their services/ products outlining important elements of their businesses as well as the vital part of financial support by trustful investors/ funds, who are passionate about the specific issues/ problems the entrepreneurs' are addressing.
Furthermore, Caban Capital welcomed guests who illustrated their work and best practices in providing change for local or global communities. David Gutierezz - the Founder of Guasacaca shared the story of launching his venture in London and introducing Venezuelan arepas to a new but quite diverse market. Despite the challenges, the business has been rapidly growing and contributing to the community by delivering cooking classes and engaging with children to understand the magic of preparing food from Venezuela.
Another guest invited by Caban Capital was Bremley Lyngdoh, Founder & CEO of the Worldview Impact Foundation and Worldview Impact Incubator & Space, who told the story of the foundation and the support they provide to a sustainable future by making green investments grow and mitigate climate change. Moreover, Bremley shared details about specific projects in India and the dedication of the enterprise to forest ecosystems and minimizing the negative impact of climate change.
During the 5 days of training, all participants had the opportunity to learn more about the work of Caban Capital and its work for accelerating positive impact via the Seedslife Caban Impact Investment. The business model of the fund is to support social entrepreneurs in Africa, while providing an opportunity for investors to participate in high growth emerging markets and benefiting from the longstanding infrastructures created by enterprises nurturing sustainable impact in local communities.
The feedback of all participants' experience was extremely positive and insightful in the topic of social impact not only in London, UK but also in the BASET project partner's countries. All participants exchanged views, experience and took part in discussions which will help with the final shape up of the Train the Investors Handbook and materials in the Boost Aid for Social Entrepreneurship through Training project, co-funded by the Erasmus plus project of the European Union. Moreover, each participant had the chance to experience and embrace a part of the London's social impact ecosystem and feel the positive energy and passion of running a social enterprise or an enterprise creating social impact.
The UK is viewed by many other countries as a pioneer of social enterprise and the associated practices of social investment and social value. Government statistics identify around 70,000 social enterprises in the UK, contributing £24 billion to the economy and employing nearly a million people.
In "The Future of Business (State of Social Enterprise Survey 2017)" report the Chair of Social Enterprise UK (the national body for social enterprises in the UK) – Lord Victor Adebowale summarizes that in the last ten years there has been a wave of start-up dynamism with a new generation of businesses choosing the social enterprise approach: “embedding a social purpose in their DNA, acting commercially, and reinvesting their profits to create a more positive change”. Lord Victor also highlights that the social enterprises’ landscape in 2017 looks very different compared to the year of 2007 – pre-2008 crash, pre-austerity, pre-Brexit – and concludes that social enterprises represent the future of how everyone should be doing business. More precisely - by having a sustainable business model with a clear social purpose, working and employing in the most challenging areas and doing so in an accountable, fair and inclusive way.
The report “Social Enterprise in the UK” by the British Council also confirms the significant evolution in the social enterprise sector in the UK such as changes in the government’s approaches, increase in the number of incubators, a new focus on social investment and an enhanced emphasis on measuring social value.
The Choice of Social Enterprise
It is pivotal to state that based on a national representative sample by the Global Entrepreneurship Monitor 4.2% of the UK adult working population is estimated to be actively involved in socially entrepreneurial start-up activities whereas the RBS Enterprise Tracker survey in association with UnLtd (the leading provider of support to social entrepreneurs in the UK offering the largest such network in the world) suggests a fifth (19%) of aspiring entrepreneurs would choose to start a social enterprise. That would be highly needed considering the top societal challenges in the UK are poverty and financial insecurity, aging population, youth unemployment and health inequality.
Write something about yourself. No need to be fancy, just an overview.
Social Business Model
The Boost Aid for Social Entrepreneurship through Training /BASET/ Project No. 2017-1-BG01-KA204-036360 has been co-funded by the Erasmus+ Programme of the European Union.
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