Social Enterprise is the future says Sir Tim Smit
THE Eden Project founder Sir Tim Smit told an audience of Yorkshire business leaders that social enterprise is the most important emerging sector of the economy.
Sir Tim, speaking at the launch of the Yorkshire Venture Philanthropy (YVP) programme by Leeds Community Foundation, also said people had to change their view of social enterprise as being like charity work.
“There is no reason why a social entrepreneur shouldn’t be able to become a millionaire, social enterprise is so underestimated and needs aggressive champions,” he said at the ‘dragons’ den’ event at aql’s Salem Church venue in Leeds which saw three social enterprises pitching for grants of £10,000 from three influential business people.
“In 50 years social enterprise will be the transformational social movement of our age. My advice to social entrepreneurs is: be angry, be tough, invest in yourself – you can be good enough to manage any business,” added former music composer and producer Sir Tim.
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Deidre Bounds, entrepreneur and founder of gap year travel business i to i, Jonathan Straight, CEO of recycling group Straight and Peter Yendell, chairman of private equity group Endless, were the ‘dragons’ at the event which was attended by an audience of 200 business leaders.
TheBusinessDesk.com founder David Parkin compered the event.
The three social enterprises that pitched for funding were Enabled Works, founded by former Remploy staff which looks to train and employ disabled people; Seagulls, which collects paint left at recycling centres in Leeds and mixing it then selling it on at an affordable price; and Bramley Baths, a grade 2 listed Edwardian baths housing a gym, steam room, swimming booth and fitness space in west Leeds.
A text vote by the audience saw Enabled Works awarded a £6,000 prize while the two runners up received £2,000 each.
Speaking about the programme, the CEO of the Community Foundation, Sally-Anne Greenfield said: “Many businesses and business people make charitable donations and get involved in their local communities. The YVP programme allows them to do this, but in a more dynamic and sustainable way. Not only does it meet many important social aims, it can play also play a key role in bolstering the economy and is also a method of creating jobs in the areas where they are needed most.”
YVP is a new initiative which aims to encourage growth in the social enterprise sector across Yorkshire. In partnership with ERDF and Key Fund, the programme is being managed by the Leeds Community Foundation, together with Community Foundation from South Yorkshire and Calderdale.
The programme recruits Yorkshire-based social enterprises with ambitious plans for growth. The enterprises are able to access one or more aspects of the programme; a small grant up to £5,000; a combined grant/loan of up to £100,000 (which is delivered with KeyFund); mentoring support; pro bono advice from a range of locally-based businesses and access to a specialist consultancy fund.
