Drinking Water Quality Regulator for Scotland’s annual report
The Drinking Water Quality Regulator (DWQR) for Scotland’s latest annual report shows that Scottish Water’s compliance with the stringent standards for drinking water remains very high, although continued investment is needed to ensure it stays that way in the face of a number of challenges.
Matt Bower, the Drinking Water Quality Regulator said: “Our drinking water in Scotland is amongst the finest in the world; however, ageing water treatment assets and changing source water quality mean that we cannot take this for granted.
“We must ensure that the scale and pace of investment in the maintenance and replacement of water assets is sufficient to safeguard the consistently high quality of our drinking water for future generations.”
The report, covering Drinking Water Quality in Scotland during 2023, states that a total of 272,017 regulatory tests were carried out on Scotland’s drinking water last year. Of those tests on samples taken to represent quality at consumers’ taps, 99.88% met the required standards. A direct comparison with previous years is not possible due to changes in the numbers and locations of samples.
The quality of water leaving water treatment works and treated water storage points, while still high, showed a slight deterioration in compliance with the standards on the previous year.
The number of water quality incidents requiring detailed investigation by the DWQR during 2023 was 29, a very similar figure to previous years.
A full copy of Drinking Water Quality in Scotland 2023 is available at www.dwqr.org.uk
The BBC’s annual report shows ‘a year of creative excellence and transformation against financial pressures and a challenging media market’
The report shows that the BBC is at the heart of national life and is the go-to media brand in the UK, with 95% of UK adults using our services on average per month, says the BBC’s Media Office.
We continue to deliver for audiences across the UK, and abroad, but we know we must accelerate the pace of change to increase relevance and value in a time of limitless choice and interactivity.
In March, we set out a long-term ambitious plan to prioritise, and focus our resources on, three essential roles: to pursue truth with no agenda; to back the best homegrown storytelling; and to bring people together.
Samir Shah, BBC Chair, said: “The BBC matters deeply to the UK, and continues to play an important role on the global stage.
“With the Board, I look forward to overseeing progress with the solid plans in place to preserve the benefits of public service broadcasting for all, and to ensure the BBC can deliver for audiences well into the future.”
Tim Davie, BBC Director-General, said: “This year’s Annual Report shows how we are transforming at pace to deliver for all audiences in the digital age.
“We remain firmly focussed on prioritising our resources into building a BBC for the future that can deliver crucial benefits for the UK at a critical time – and help support a healthy democracy, a thriving creative economy, and a strong society.”
Content
More people, by far, get their news from the BBC than from any other source and – across all our services – 35 million UK adults came to the BBC per day across 2023/24.
We are now the only UK provider to appear in the top five most-used media brands for young people and it was another record-breaking year for BBC Sounds and BBC iPlayer, with both seeing a significant increase in the number of weekly active accounts.
The BBC was the place to go for unmissable moments. We brought people together for the Coronation of King Charles III, watched by an average audience of 14.6 million, and the Eurovision Grand Final in Liverpool, watched by an average audience of 10 million on the night.
We saw huge audiences for homegrown storytelling across all genres, from Doctor Who and Planet Earth III to Ghosts and The Traitors. It was an incredible year for distinctly British drama from across the UK, including Blue Lights, Shetland, Steeltown Murders, Sherwood and The Responder.
BBC Radio continues to be the market leader in the audio space, with over 30 million adults listening on average per week – more than any other broadcast radio company or on-demand player. Radio 2 is the UK’s number one station overall, Radio 4 the number one speech station and 6 Music the biggest digital-only service.
Across the UK
Our Across the UK plan remains mission critical and has now entered its second phase. It is currently on track to exceed its £700 million spend target outside of London. To date, the programme has seen the BBC deliver more than £200 million of cumulative investment across its programming and services, including more than 350 roles being relocated outside of London. Over 54% of our workforce are now based outside of London.
In 2023/24, the BBC achieved its target to spend 60% of the Network TV budget outside of London and we are on track to sustain this permanently by 2026. While 44% of total radio and music production spend was outside of London, and we are well on the way to achieving the 50% target by the end of the current Charter.
Transparency and impartiality
We’re building trust with our audiences with a laser-sharp focus on transparency, spearheaded by the launch of BBC Verify. The team fact-check, counter disinformation, analyse data and explain complex stories in the pursuit of truth. This year we’ll be taking BBC Verify to audiences worldwide.
In May, we demonstrated our continued commitment to impartiality by publishing our second independent thematic review, on BBC coverage of migration, and announced the next review into our output on authentic and accurate portrayal and representation.
Finance and commercial
BBC Studios achieved a solid year of performance, despite a backdrop of challenging trading conditions, with sales of £1.9 billion (2022/23: £2.1 billion). An increase to our borrowing limits has kickstarted further investment and the recent acquisition of streaming service BritBox International demonstrates our sustainable future growth plans.
We aim to double our commercial business by 2027/28, generating additional content and funding for the BBC.
While licences in force declined by 2% year-on-year, the vast majority of our audiences remained committed to paying the licence fee and 95% of public service spend was directed to content and its delivery.
In real terms, the licence fee generated 30% more income in 2010/11 than it does today – a difference of more than £1 billion a year. We have been clear that the significant funding pressure we are under means we need to make further savings, on top of the major savings and reinvestment we have already made, to deliver the most value for audiences.
Transformation
We are becoming a leaner, more agile organisation, and we are accelerating our digital-first approach to reach audiences where they are. Public service roles continue to reduce this year, with headcount down 10% in the last five years; a reduction of almost 2,000 roles.
Over the course of the next two years, we will look to further move the money we have into the priority areas that provide real value for audiences. This means, in public service, we will close and transfer roles in some areas, and create roles in growth areas. By the end of March 2026, we expect to see a total reduction of around 500 public service roles.
Workforce diversity
We’ve made progress towards our overall 50:20:12:25 Diversity and Inclusion targets for the year, but there is much to do to ensure we remain representative of our audiences as we get smaller as an organisation. Disability and ethnicity are behind our expected ambition and both will be a focus of our refreshed D&I strategy which will be released in the coming year.
The report demonstrates delivery on all three of our key pillars.
We pursue the truth with no agenda ;
75% of UK adults use BBC News on average per week – well ahead of the next nearest provider
1.3m 12-15 year olds in the UK follow the news with the BBC – higher than any other organisation
We carry the UK’s voice, values, and influence to a weekly audience of 450 million people worldwide
We are the world’s most trusted international news provider
We back the best homegrown storytelling;
We contributed almost £5 billion to the UK economy last year and for every £1 of the BBC’s direct economic activity, £2.63 is generated in the UK economy
Half of our economic impact is outside London – versus 20% for the wider industry
99% of our original content is made in the UK – we are the largest single investor in UK-made programming.
We won 14 BAFTA TV awards in 2024 – more than any other broadcaster or streamer
We bring people together;
BBC coverage reached 25.2m people in the UK on the day of the Coronation of HM The King and HM The Queen Consort
There were a record 8.1bn streaming requests on BBC iPlayer – up 10% on the year before
Of the UK’s top 10 most viewed programmes in 2023, seven were on the BBC, highlighting our ongoing importance and relevance for today’s audiences
People spent 5hrs 44m watching BBC TV/iPlayer on average per week – more than all the big SVOD streamers combined
Inflationary pressures and cuts in real pay in many sectors have continued to trigger disputes across the public and private sectors in the last year according to workplace expert, Acas, in its latest annual report.
The new annual report covers the period from 1 April 2023 until 31 March 2024.
Acas Chair, Clare Chapman, said: “It has been another exceptionally demanding year for Acas and our staff have worked hard to help spread good work practice and resolve conflict in a challenging economic climate.
“The past 12 months have seen continuing inflationary pressures and a cut in real pay across the economy that are key drivers for collective disputes. Acas experts handled more than 600 of these disputes over the past year and resolved 94% of them.
“Our individual dispute resolution service also performed very strongly and helped to prevent costly and distressing court action for tens of thousands of employers and employees.
“The service dealt with over 100,000 cases during the year and over one million in the last decade. These successes have benefitted businesses and workers across Britain.”
Key facts and figures from this year’s annual report, include:
Acas was involved in 618 collective disputes between employers and groups of workers with a settlement rate of 94%. Pay was the leading cause of the disputes.
The individual dispute resolution service at Acas, which helps to resolve potential employment tribunal claims, dealt with 104,884 notifications for ‘early conciliation’. Seven out of 10 cases avoided the need for an employment tribunal. Wages were the top cause of conflict, followed by unfair dismissal and disability discrimination.
The Acas website continues to be popular for employers and employees seeking advice on workplace rights. Customers accessed its web pages 17.9 million times in 2023-24.
The Acas helpline answered 578,463 calls from employers and employees across Great Britain. Discipline, dismissal and grievance were the top topics for calls.
Acas trained over 40,000 people in good workplace practice. 93% of attendees said their course met their objectives.
Acas has made significant efficiencies in key service costs. The cost of handling a case in our collective and individual conciliation services has been reduced by 30% and 11% respectively.
A full copy of the 2023-2024 Acas Annual Report can be viewed here:
The Scottish Government is estimated to have invested almost £1.4 billion to benefit children in low income households in the last financial year.
The investment is detailed in an annual progress report which highlights key actions to tackle child poverty including:
Awarding almost £430 million to families through the Scottish Child Payment, supporting more than 329,000 children as of 31 March 2024
Widening eligibility for Best Start Foods, the benefit which helps low-income families access nutritious food, so thousands more children and pregnant women can benefit
Supporting around 4,400 children through continued work to develop a system of school age childcare and continuing to provide 1140 hours of funded childcare for all eligible children
Providing free bus travel to over 2.3 million people, with 727,000 children and young people registered as of March 2024
Delivering 6,045 affordable homes across Scotland, with two thirds for social rent, between April and December 2023 – helping an estimated 2,015 households with children into affordable housing
Ms Somerville said: “Eradicating child poverty is the First Minister’s top priority and the actions we are taking are making a difference. Modelling published in February estimates that our policies will keep 100,000 children out of relative poverty this year.
“Over the last year we have continued to provide immediate support to families through investment in the likes of our ‘game-changing’ Scottish Child Payment, and by mitigating the Benefit Cap as fully as possible within the scope of devolved powers.
“We have set out, through our Building a New Scotland series, how we would deliver differently in an independent Scotland. Only with the full economic and fiscal powers of an independent nation can we use all of the levers other governments have to tackle inequalities, and we will continue to make this case. However, this will not stop us from taking all the action we can towards our goal now.”
Following a further increase in the value from 1 April 2024, together the Scottish Government’s five family payments of Scottish Child Payment, Best Start Foods and the three Best Start Grant payments could now be worth over £10,000 by the time an eligible child turns six, and around £25,000 by the time they turn 16.
Social Security Scotland has published its Annual Report and Accounts, which show that it made £641 million in direct payments to people across Scotland from 1 April 2022 to 31 March 2023.
The payments were made across 13 Scottish benefits, seven of which are completely new forms of support not available anywhere else in the UK.
This includes the Scottish Child Payment which has been extended to eligible children under the age of 16. More than 300,000 young people are now receiving this payment.
The payments also include the new Winter Heating Payment, which has helped almost 400,000 people on low incomes with their heating costs.
The results of an annual survey of clients have also been published, showing that 93% of people who had been in contact with Social Security Scotland felt they had been treated with kindness.
Among those who responded to the survey, 97% said they had received their benefit payments when Social Security Scotland said they would and 90% said their experience with staff was ‘very good’ or ‘good’. A further 90% said staff listened to them and 89% felt they were treated with respect.
In total, the combination of direct payments made by Social Security Scotland and those paid through Agency Agreements with the Department for Work and Pensions saw the Scottish Government invest £4.04 billion in benefits across Scotland.
Cabinet Secretary for Social Justice, Shirley-Anne Somerville, said: “We are supporting families across the country at a time where they are struggling with the cost-of-living crisis and higher energy bills. We now deliver 13 benefits, seven of which are only available in Scotland and are delivering these payments while treating people with dignity, fairness and respect.
“Our decision to expand the Scottish Child Payment to all eligible young people under the age of 16 and increase the payment to £25 per week means we are supporting more than 300,000 children and making a significant contribution to tackling child poverty.
“As we prepare to launch Carer Support Payment, our 14th benefit, we are committed to making sure that people get the money they are entitled to and that people who are eligible know how to apply for our payments.”
Chief Executive of Social Security Scotland, David Wallace, said:“This last year has been the busiest in our five-year history. We have significantly expanded our service, including the national rollout of Adult Disability Payment, the extension of the Scottish Child Payment and paid Winter Heating Payment for the first time.
“We are continuing to develop and improve our service. Despite some challenges with processing times, which we are actively working to improve, we still maintained high client satisfaction rates. In our annual Client Survey, 93% of people who participated told us they were treated with kindness.”
Female-led Scottish scale-up crowned one of the UK’s best
SCOTLAND’S leading financial services recruiter has been identified by JP Morgan Private Bank as one of the top 200 women-powered businesses in the UK.
Founded by respected entrepreneur Betsy Williamson in 2005, Core-Asset Consulting receives the accolade shortly after being named a leading trailblazer at the end of 2022.
The firm – which now turns over £26.5m a year – places a strong focus on diversity, equity, inclusion and progressive working practices for both men and women.
Louise Powrie, co-Managing Director of Core-Asset Consulting, said: “This year’s standings perfectly reflect our continually growing upward trajectory which has seen us truly excel as a business.
“We place inclusion at the heart of what we do and have recently launched a new initiative to help improve socio-economic diversity in the sector – this accolade from JP Morgan highlights that we are more than meeting these goals.
“As an Edinburgh-based business that has grown from a start-up into Scotland’s leading financial services recruiter, the report – which celebrates women-powered businesses – should serve as a driver for all companies across the country which are fuelling female ambition and advancing financial equality.
“We are delighted to be a part of underlining the incredibly diverse role that women play in impacting and shaping British businesses and the economy.
“Each and every one of the top 200 businesses deserve their recognition – it’s fantastic high-growth businesses like these that will fuel our future.”
Core-Asset was born out of Betsy’s desire to take the best of her experience of large corporate recruiters, applying the focus on infrastructure and training to a more sector-specialised business.
It ranked 38 out of 200 in the third instalment of the annual JP Morgan report. It analysed over 46,000 companies that together form the UK’s high-growth ecosystem, revealing 13,255 women-powered businesses founded, led, owned, or managed by women.
Charlotte Bobroff and Stephanie Khalef-Wassmer, Co-heads of UK Women & Wealth and Executive Directors at J.P. Morgan Private Bank said: “Investing in the advancement of women is a focus of our firm that we believe is critical.
“Over the years, we have developed and launched a range of resources, networks and tools that enable women to progress in their career journeys as despite their impressive performance, women-powered companies still face the challenge of being underrepresented compared to their male counterparts.”
Core-Asset Consulting is Scotland’s pre-eminent recruitment and headhunting agency dedicated to financial and professional services.
Based in Edinburgh, the firm employs 24 people and works across the entire financial services sector, from the smallest boutiques to the biggest global players.
Initially the firm carved its reputation in Scotland’s globally-renowned asset management sector. However, the success of its model allowed it to expand across the wider financial services market. It now boasts dedicated accounting, investment operations and finance teams and also works in Scotland’s thriving legal sector.
Recently crowned the best city in the world by Time Out magazine, Edinburgh’s reputation as a great place to live, work, invest in and visit remains well intact. That’s according to the 16th annual Edinburgh by Numbers report, published by the city council last week.
The report reveals that residents’ lives are not only enriched by a vibrant cultural scene and more top-rated parks than any other comparable UK city – but on average Edinburgh people can expect to live longer, healthier lives.
Highlighting the city’s economic resilience, the findings also reveal that it’s not just residents who are in good health. Edinburgh has recorded the strongest local business survival rates and above average wages, retaining its position as the UK’s most economically productive city outside of London. Plus, all signs point to a post-pandemic rebound – with Edinburgh by Numbers demonstrating a bounce back in airport passenger numbers.
In summary, the stats reveal that:
Edinburgh has the highest life expectancy of the UK’s 8 major cities
And the highest proportion of life spent in good health (80%)
Boasts the most ‘green flag’ parks (35), twice as many as runner up Birmingham
With a greater number of ultra-low emission vehicles compared to elsewhere in Scotland (2.32% of vehicles)
More Michelin starred restaurants than any comparable city
And audiences eager to return to the city’s top rated visitor attractions and festivals
Strong recovery for the airport, with 11.3m passengers in 2022 vs 3m in 2021
The highest GVA per capita, the sign of a healthy economy
With above average wages and big decline in unemployment, down 50% in a decade
A highly educated workforce, with more people working at degree level or above
One of the highest student populations, behind Manchester and Bristol
Plus a population increase in the last decade of over 10% across all age groups, bucking national trends
While hard to believe, Edinburgh was also less rainy in 2022 than in the 5 years previous.
Council Leader Cammy Day said: “Edinburgh by Numbers is one of our most well-loved and well used pieces of research, providing a handy resource for everyone from school pupils to professors. This latest edition doesn’t disappoint and provides yet another unique overview of life in Scotland’s capital.
“It may be small but not many capital cities can boast the unique blend of greenspaces, beaches or indeed ancient volcanoes Edinburgh can – not to mention the most famous festivals on the planet. It’s no surprise, then, that Edinburgh is often cited as one of the most incredible places to live. But perhaps all of this culture and outdoor space is actually good for our wellbeing, too?
“With Edinburgh by Numbers revealing evidence of people living well and living longer compared to similar cities, plus good survival rates for local businesses, Edinburgh’s outlook is certainly healthy. All of this shouldn’t be taken for granted, especially following the hardship of Covid. Thankfully, the latest Edinburgh by Numbers points to a great level of business resilience in our city and now the gradual and welcome return of tourism.
“The ‘Team Edinburgh’ approach to economic recovery involved over 60 organisations coming together to set out what was needed for the city to bounce back from the pandemic. Clearly, this dedicated work to build Edinburgh back after lockdown has been a success.
“While all of this good news is to be welcomed, however, there is a flip side to the reputation Edinburgh has coined. Our population has risen faster over the last decade than other cities and we’re living longer, leading to increased demand for homes and some of the most expensive rents in Europe.
Wages are higher than average, but so too are costs and many residents continue to struggle with the cost of living crisis. In just three years, we’ve seen a 191% rise in the number of people who are in work claiming Universal Credit.
“For the council, Government and all city partners, it’s important that we use the findings of Edinburgh by Numbers and address these challenges. Future generations should be able to reap the benefits of ‘the best city in the world’ too.
“This involves planning for the future in line with our 2050 City Vision and projects like the tram to Newhaven, Granton’s regeneration and affordable housebuilding will be key to a more sustainable city, alongside our ambitious net zero carbon by 2030 goal.”
Scotland’s trust in Crimestoppers sees anonymous information play vital role in catching murderers, fugitives & drug dealers
Over the past year (1st April 2021-31st March 2022,) independent charity Crimestoppers Scotland and their youth programme Fearless received over 16,000 contacts from the Scottish public.
As a result of anonymous information from communities across Scotland, over 350 (357) people were arrested and charged, including five with murder. Contacts about drug supply, manufacture and dealing continue to rise and the charity passed on information to the police which helped recover a ‘street value’ of drugs worth over half a million.
Fearless, the youth programme of Crimestoppers, saw over 58,000 young people from all across Scotland visit the charity’s youth website Fearless.org and reported crime – 100% anonymously – more than ever before.
Information from the public has achieved the following:
16,328 pieces of anonymous information were sent to Police Scotland & Law Enforcement. Whilst the headline figure is slightly below last years (a small decrease of 1%), this followed a record high year. 2020-21 saw the most disseminations (16,515) from the charity to Police Scotland in 34 years of Crimestoppers.
Dangerous criminals and wanted offenders were thwarted. Over 350 (357) criminals were arrested and charged by police due to Crimestoppers information in Scotland. This was a fall of 35% on previous year.
Five people were arrested and charged with murder/unlawful killings
Three people, who were on the wanted list, were caught and charged
Nearly 50 (48) disqualified and uninsured drivers were arrested and charged
54 drink/drug drivers were arrested and charged
Over a dozen (13) charged with hate crime
Firearms: Two were arrested for firearms offences, with one firearm and three hauls of ammunition were recovered
‘Street’ value of drugs recovered over half a million: £541,901
Value of property and cash recovered: £192,856
Over the past year, 12,709 pieces of information were recorded as `actionable intelligence’ by law enforcement. This means that 78% of all Crimestoppers anonymous information sent to Police Scotland was high-quality information.
Thanks to police action after receiving Crimestoppers reports, nearly a thousand positive outcomes followed (935). This was a 20% increase on the previous year and included 163 vulnerable and safeguarding issues.
Angela Parker, National Manager for Crimestoppers Scotland, said: ‘We are continually grateful for people across Scotland who come forward and trust us with their information.
“From drug dealing to child harm and neglect, we heard from thousands of people concerned about crime in their communities. We are so encouraged and grateful to those who contacted our charity – thanks to you, life is better for many and communities across Scotland are safer.”
Police Scotland’s Assistant Chief Constable Gary Ritchie said: “The annual report makes it clear that our communities remain confident in using the service provided by Crimestoppers. The information provided anonymously helps Police Scotland’s officers tackle crimes that affect our citizens.
“We also want to acknowledge the support that Fearless provides to our young people, in schools and our communities which undoubtedly helped their resilience during the past few difficult years and understand that we can also play a part in keeping everyone safe.”
“We continue to work in partnership with Crimestoppers to encourage those who may be concerned about getting in touch with us directly to call Crimestoppers on 0800 555 111 or visit its website to make a report anonymously.”
Minister for Community Safety Elena Whitham said: “The clear, significant impact that the information provided to Crimestoppers has had on tackling crime shows the power we all have to help keep our communities safe.
“It is extremely encouraging to see so many young people through the Fearless campaign play their part to help tackle crime. The information they have provided along with many thousands of others who have come forward has resulted in more than 300 less criminals on our streets last year.
“I would like to thank Crimestoppers, Police Scotland and members of the public for their support and efforts. The Scottish Government is backing this with £3.4 billion for justice system in the next financial year to fund vital front-line services, provide continued support for victims and witnesses, and to tackle the causes of offending.”
More than £160 million in support paid out across 11 benefits in 2021-2022
Social Security Scotland has published its Annual Report and Accounts, which shows that it made £163.6 million in direct payments across 11 Scottish benefits from 1 April 2021 to 31 March 2022.
The combination of direct payments and those delivered through Agency Agreements with the Department of Work and Pensions saw the Scottish Government invest a total of £3.48 billion in benefits across Scotland.
The results of an annual survey of clients by Social Security Scotland have also been published, showing that people felt they were treated well, with staff commended for treating people with ‘kindness’, ‘listening’ and showing ‘empathy’.
Among those who responded to the survey, 94% of people who had been in contact with staff ‘agreed’ or ‘strongly agreed’ that they were treated with kindness while 93% said their experience with staff was ‘very good’ or ‘good’ with a further 92% saying they felt they had been listened to.
The positive feedback matches the high standards reported last year, where 93% also said their experience with staff was ‘very good’ or ‘good’ and 92% saying they felt they had been listened to.
Minister for Social Security, Ben Macpherson, said: “Social Security Scotland’s Annual Report and Accounts demonstrate the impact of delivering benefits that help tackle poverty and promote equality. We ensure money goes directly to people who need it most, including carers, disabled people and families on low incomes.
“Next week our transformative Scottish Child Payment will be extended to all eligible young people under the age of 16 and increased to £25 per week per child – a 150% rise within 8 months of introducing this important benefit, which is only available in Scotland.
“I am pleased Social Security Scotland have maintained high satisfaction levels in their service delivery, as evidenced in the latest Client Survey. We encourage all those who are eligible for support to apply, and are committed to treating everyone with dignity, fairness and respect.”
Chief Executive of Social Security Scotland, David Wallace, said: “Four years ago, we began delivering our new social security service for Scotland after listening to people who had experience of the benefits system. They helped us create a service based on our values of dignity, fairness and respect and we continue to listen to them as we grow and deliver more benefits.
“Our annual Client Survey reflects the work we have put in to deliver on our commitment and the fact that we managed to maintain such an exceptionally high level of client satisfaction through a period of significant growth is a source of immense pride for me.
“In fact, 96% of people surveyed told us they had received their benefit payments when we said they would. These results are testament to the care and pride our people take in their work. We have worked hard to build a diverse workforce of people who share our values that reflects modern Scotland.
“The year ahead will remain difficult for many of us but our commitment to our clients remains strong and we will continue to listen to their feedback as we develop our service and prepare to deliver new benefits.”
Social investor reports supporting 184 social enterprises in past year
In turn, investees supported over 1 million people across the UK
Social investor outlines new strategic direction with ambitious target to increase the assets under BII management and advisory to over £500 million by 2030
Big Issue Invest (BII) has launched its 2020-2021 Impact Report.
The report revealed that the social investment arm of The Big Issue, supported 184 social enterprises across the UK with £39.7 million Assets Under Management (AUM) at March 2021*.
The report detailed how, in turn, those 184 social enterprises were able to support over 1.16 million customers across the UK in the same period.
The organisation reported that, of BII’s total investment portfolio, over 62% of the 184 investees of the past year are based in areas of high deprivation**, where capital can have the greatest social and economic benefits, including London, the North East and North West.
20% of BII’s total portfolio is invested into organisations directly tackling inequality in the UK in order to improve health, education and job outcomes in deprived areas.
BII’s investments in Scotland, the North East, East Midlands and the East of England have significantly increased during the period.
For example, £5 million was invested in Scotland- based social ventures with a major investment in the social lettings agency Homes For Good.
£1.7 million of investment was made into social enterprises in the East of England, with a change in value percentage of 667%.
Of the total number of investments, 16% support people living in poverty and/or financial exclusion, 11% support people living in precarious housing or who are homeless, 12% support vulnerable young people, 11% support people experiencing unemployment and 9% support people with mental health needs and conditions.
The top five Sustainable Development Goals contributed to by BII’s investees were: Good Health and Wellbeing (31%), Decent Work and Economic Growth (17.4%), Sustainable Cities and Communities (16.3%), Quality Education (10.3%) and Reduced Inequalities (8.2%).
The report showed that 9,490 people are employed by BII’s investees across the UK and provide 6,900 volunteering opportunities for people in local communities. It also revealed that 76% of investees focused their impact at a local rather than national level.
The report detailed BII’s support of social enterprises during the pandemic. BII provided £3.2 million of grants to 118 grantees across England as part of the National Lottery Community Fund’s ‘Social Enterprise Support Fund’ and supported the Resilience and Recovery Loan Fund to disburse £5.5 million through the Coronavirus Business Interruption Loan Scheme.
It also provided 61% investees with repayment holidays. Over 50% of BII’s investees managed to grow or maintain their work during the Pandemic.
The report also laid out the foundations of the new BII strategy: We Back Human Potential. BII’s new strategy, which includes an ambitious target to increase the assets under BII management and advisory to over £500 million by 2030.
Danyal Sattar, CEO of Big Issue Invest, said: “In the past year, we have been inspired by the way that social enterprises and charities across the UK have responded to the unprecedented challenges faced by their communities whilst also overcoming challenges within their organisations.
“I am proud of the Big Issue Invest team who have worked tirelessly in supporting our investees to keep the lights on, adapt to new operating environments and to continue to deliver impact to their customers.
“We were part of two major sector responses to the pandemic: the Social Enterprise Support Fund and the Resilience and Recovery Loan Fund. On top of this, we continued to support over 180 organisations with £39.7 million of investment.
“During this period, we have launched a brand new strategy as an impact investor. Driving everything we do, we will champion impact-first investing; we will push for social equality and we will provide a broader range of support that is ‘more than money’.
“Over the last 12 months, BII has continued to prioritise improving diversity, equity, and inclusion in our work. We would like to take this opportunity to thank our investees for their engagement on this issue, as well as our many partners and the networks in the sector who continue to push the social investment and social sectors to be more inclusive and accessible to social purpose organisations and the wider communities they support.”
