More than half of all social enterprises have seen turnover increase during the past year, the Social Enterprise Coalition has said.
Released in conjunction with today’s Social Enterprise Day, the ‘State of Social Enterprise’ survey found that social enterprises were outperforming the wider economy.
Only 20% of social enterprises had seen a dip in revenue compared to 43% of small businesses as a whole.
Angela Smith, minister for the Third Sector, said: “I am delighted that Social Enterprises are thriving even in these tough economic times and Social Enterprise Day is a great way of celebrating their success.
“Social enterprises have a key role in society, they contribute to the economy like any other business while at the same time bringing together and empowering communities.”
The research also suggested social enterprises are breaking down the so-called ‘glass ceiling’. At 26%, twice as many social enterprises are women-led compared to all small businesses. In addition, more than 40% of board members on social firms are women compared to just 5% of AIM listed companies.
Sophi Tranchell, managing director of Fairtrade company Divine Chocolate, said: “It is not a surprise to learn that social enterprises are a natural home for women entrepreneurs.
“They are challenging, rewarding businesses to run, and critical for our economy and society. I hope that many more women are inspired to start or work for social enterprises, and the numbers continue to grow.”
© Crimson Business Ltd. 2009