The concept of social enterprise continues to gain traction and was highlighted as a study in September revealed that 27 per cent of the UK’s entrepreneurs say that it’s a priority of theirs to support the community.Following that, Boris Johnson parted with £285,000 to help jumpstart 20 community-centric projects across London to support “creativity and enterprise” across the city. One of the most campaigns is an effort to transform a 1km stretch of a disused Peckham railway line into an urban park, enriching accessibility for locals and footfall for businesses in return. Skills development body City & Guilds now wants to deliver “social purpose”. The group is recognised for providing hundreds of qualifications for sectors including business, beauty, construction & engineering, childcare, creativity & media, hospitality and more, but now introduces a new £7.5m fund. The pot is split into two investments, with £2.5m for the New Venture Fund (NVF) and £5m for the Skills Development Fund (SDF). The £5m SDF will focus on social projects that are based on communities and able to deliver benefits to education and training sectors globally, while also supporting employers. This will be achieved as the body will use its experience to drive long-term and sustainable change by improving skills.
Read more on the British skills debate:
- Enough about A-levels, exam board AQA launches Tech-levels to combat skills gaps
- Skills shortages revealed in private equity-backed firms
- Future of work: Skills and job requirements in the 21st century
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