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Accounting for Value
- Big Issue Invest (BII) wins Charity Times 2013 Social Champion Award, demonstrating an outstanding service and commitment to the social enterprise and charity sectors.
- BII, part of The Big Issue Group, supports social enterprises and charities to scale up through the provision of loans and investments, not grants, from £50K to £1m.
- Since its inception BII has invested nearly £20 million in over 160 social enterprises, charities and community organisations throughout the UK.
Big Issue Invest are celebrating their win at the recent Charity Times 2013 Awards. Crowned Social Champion at the Awards Gala at London’s Lancaster London Hotel, the Charity Times Awards are the leading celebration of best practice in the UK charity and not-for-profit sector.
The Social Champion Award was presented to BII for its outstanding service and commitment to the social enterprise sector and its demonstrable positive social impact, which to date includes:
Nigel Kershaw, Chief Executive of Big Issue Invest, said: “We are extremely proud to be named Social Champion at the Charity Times Awards. Big Issue Invest is committed to ensuring that people don't have to resort to The Big Issue because we're supporting pioneering social enterprises that are capable of transforming people’s lives.”
John Bird, Founder and Editor in Chief of The Big Issue, said: “It’s great news when we hear that people recognise the power of prevention in the community. My ambition is always to help the homeless to help themselves; but increasingly we have to prevent people falling into homelessness. This is why Big Issue Invest backs sustainable social enterprises and ventures that help tackle poverty and inequality. Prevention! Prevention! Prevention!”
Charity Times judges said: “Big Issue Invest has shown a consistently high impact across a wide-range of social needs and on a wide geographical base with clear evidence of effect across a wide range of organisations.”
The judging panel included Ceri Doyle, Acting Chief Executive of The Big Lottery Fund, Caron Bradshaw, CEO of CFG, Christian Guy, Director of the Centre for Social Justice and Tris Lumley, Head of Development at New Philanthropy Capital.
BII is a social enterprise itself, paying any dividends generated to The Big Issue, also a social enterprise. This structure helps to demonstrate a commitment to social enterprise and creates credibility and empathy with its target markets.
We are pleased to announce that WikiVOIS have added some exciting new valuations based on the recently updated HSE research paper; "Costs to Britain of workplace injuries and work-related ill health: 2010/11 update".
Over the last two decades, HSE has periodically published estimates of the aggregate costs of workplace injuries and ill health. Up to now the methodologies for producing aggregate and unit costs have not been fully consistent. HSE commissioned new research in 2009 to review and update the previous costing methodology.
Unlike previous estimates, the new cost model aims to reflect the economic costs of workplace fatalities, workplace injuries, and new cases of work-related ill health associated with current working conditions (previous cost estimates also included the costs of cases arising from historic working conditions).
Within WikiVOIS the new valuations have been linked to an outcome called "occupational deaths (change in)". The new valuation entries detail the total net costs of workplace injuries and ill health to four different stakeholders: Employers, Individuals (and their families), Government and Society as a whole.
Within the valuations we have included further relevant information such as a breakdown of approximate unit costs per incident. So, it is now possible to see that the total net cost to an individual suffering from ill health in the workplace is £8,100 per annum.
Ultimately, as with most valuations in the database, the link to the original data source is embedded in the valuation. To access the full report and excel spreadsheet of costs follow this direct link to the pdf report: http://www.hse.gov.uk/statistics/pdf/cost-to-britain.pdf
We hope that this new information will be particularly useful for anyone trying to calculate the benefit of measures that minimise the risk of injuries and ill health. If you think it is useful please add to the debate by rating the valuations or adding a comment in the discussion area.
We look forward to your contributions.
22 April 2013
Last year we started working with individuals from a variety of European countries in a new pan-European project aiming to widen the use of SROI by using the methodology to explore the impact of European employment and training initiatives, funded by the European Commission.
A website for the project has now been launched in order to let people keep up to date with how the project is progressing. This is currently available in 5 languages: Portuguese, Spanish, Czech, Latvian and English.
For the next stage of the project each country involved will be surveying a number of organisations within the market to gain important data regarding the skills and competencies required within thier sector.
The results of these surveys will be available on the ESAP website soon!
"Does investing in social value also drive company value? Of course it does. If you’re out for a quick buck you can maximise short term profit, but you won’t last long. Bella Vuillermoz, Sky"
GreenMondays have recently released a report entitled The Wisdom of the Crowd: The Value of Social Programmes, with the main aim of getting a snapshot of how leading organisations are building their social programmes, and the degree to which they are seeking to put a financial value on their social programmes. Our CEO, Jeremy Nicholls contributed to the creation of the report and we're happy to see these reports and issues becoming more prominent. We would of course argue with some findings within particularly in relation to the standard and format by which people can value these programmes. Consistency and using the same yardstick to measure that consistency are key in the eyes of the Network.
Read the entire report here and let us know your thoughts.
WikiVOIS has some exciting news to announce! After much meticulous research, we've collated the best valuations to complete the 13 outcome maps that were put together by the SROI Network and NPC in conjunction with Big Society Capital earlier this year.
We had added valuations to the existing outcomes and indicators available on WikiVOIS. These range from the cost of workplace bullying to knife crime to the cost of functional independence. All of these valuations are now available on WikiVOIS. You can find them by searching 'BSC' in the search box located in the top right hand corner of the homepage.
Have a different value for an existing BSC outcome? Or want to know more about how we constructed a certain valuation? Then why not rank the entry or comment and join in the discussion.
For more information on the 13 outcome maps please follow this link: http://www.thinknpc.org/publications/mapping-outcomes-for-social-investment/ which is also available on the WikiVOIS homepage.
We look forward to your contributions