Big Issue Invest (BII) recently hosted a social impact investment event in the House of Lords for Pension and Insurance sector leaders, highlighting its dedication to unlocking social and economic opportunities through enterprise. The event was attended by chief executives, chief investment officers, and heads of sustainability from over 20 financial institutions with the focal point comprising a panel of Pension and Insurance experts; Linda Zuberi, Head of responsible investment at Beazley, Aileen Matheson, Chief Investment Officer at Aspen and Charlotte O’Leary, CEO of Pensions For Purpose. 

Lord Bird, founder of the Big Issue and a champion of the social movement for over 30 years, opened the event, emphasising his ongoing efforts in the House of Lords to drive social justice and create a Ministry of Poverty Prevention, a holistic cross-ministry solution to the causes of poverty. 

This event followed the April co-signing of a Financial Times letter calling on the next government to establish national and local community growth funds. These funds aim to attract private and institutional investment into sectors delivering social impact. 

7 outcomes pension and insurance providers need to know 

Social impact and financial returns go hand-in-hand

The panel discussion underscored the necessity of achieving social impact alongside financial returns, focusing on sustainable, impactful investing. However, the integration of impact investing into financial decision-making presents challenges such as defining impact, overcoming organisational inertia, alignment with fiduciary duties, and engaging professional trustees and advisors. The panellists stressed the need for systems thinking and support from investment consultants and professional trustee firms to drive catalytic change. 

It’s important to be clear on the difference between impact and social impact

During the panel session, participants agreed that impact investing involved an intentional additional impact on people and the planet alongside market-rate returns. Social impact is a narrower definition, focusing on positive social outcomes. The conversation also explored how organisations incorporate impact investing within illiquid markets, which allows for flexibility and selective impact integration. 

Be clear on your social impact investment strategy

The panellists debated the merits of finding impact within asset allocation strategies versus creating dedicated impact portfolios. Both approaches have their advantages and challenges. Different strategies for pension funds were discussed, including creating impact sleeves versus constructing top-down portfolios based on sustainable development goals. The former approach was felt more suitable for early-stage incorporation of impact allocation, while the latter requires a deeper understanding of interconnected risks. 

For pension funds embarking on social impact investing, the advice was to define their purpose and construct impact investment approaches accordingly at the outset, rather than being market takers. Passionate advocacy and support from stakeholders are crucial in driving impact investment strategies. A focus on responsible business can make the case for impact investing easier, despite initial challenges. 

Investment consultants play an important role in championing social impact 

The important role of investment consultants was discussed, emphasising the need for their enhanced education for example on positive social impact to integrate impact philosophy into their advice. Currently, their focus is often narrowly on financial returns possibly due to concerns about fiduciary duty and contractual arrangements.

There is a difference between ESG and impact investing

The distinction between ESG and impact investing was also discussed. ESG was described as a risk assessment framework focused on specific reported KPIs for reporting an organisation’s good citizenship, whilst impact investing requires intentionality to generate a positive impact in making investment decisions. Clear guidance and education for asset owners are necessary to differentiate and promote impact investing. 

Act in the best interest of the end customer 

The panellists also discussed fiduciary duty, emphasizing the importance of considering the end customer. Investments should not only secure adequate financial returns but also positively impact the communities where stakeholders live. This dual focus fulfills fiduciary duty well and responds to growing consumer interest in socially responsible investing. 

Education, advocacy, and strategic alignment are key 

With the support of institutional investors and professional advisors, impact investing can drive meaningful change while delivering competitive financial returns. The discussion underscored the need for education, advocacy, and strategic alignment to integrate impact investing more deeply into financial markets. 

Please contact james.potter@bigissueinvest.com for more information on social impact investing with Big Issue Invest.

• With 1 in 5 Britons now living in poverty, more people are turning to the trusted social enterprise
• Nearly 4,000 individuals have been given access to income generating opportunities and employment through the Group’s innovative and varied services – a 10% increase on 2022
• The online reach of the Big Issue’s award-winning journalism has grown by 57% in 2023, with 7.9 million unique users consuming its trail-blazing news and advice

Big Issue Group’s 2023 Impact Report, published today (Monday 13 May), shows a stark rise in reach, support and engagement in its services as the impact of the ongoing poverty crisis solidifies, leaving millions of Britons trapped in poverty.

The report shows that the Big Issue Group has made major strides towards its ambitious goal of engaging 11 million people by the end of 2026, with number of people reached and impacted by its work rising to 9.6 million in 2023 – a 24% increase on the previous year.

It’s set against the backdrop of a stark rise in UK poverty that’s left more people needing support as they grapple with ever-escalating mortgages, rent costs, energy bills and food prices^[1]. As one of the country’s leading social enterprises and B-corps, the Big Issue Group has spent the past three decades developing innovative services that change lives through enterprise.

More than 1 in 5 people are now in poverty in the UK and 3.8 million people are reportedly living in destitution in 2022, including around one million children^[2]. This is almost two-and-a-half times the number of people in 2017.

Selling the Big Issue remains one enterprising solution for people facing poverty to generate an income. 913 people sold the magazine for the first time in 2023, and £4 million was collectively earned by vendors across the UK, an 8% increase on 2022.

The need for trusted news and advice on social issues has never been greater. In 2023, 7.9 million unique users sought out Big Issue exclusives on issues impacting people feeling the bite of the cost-of-living crisis, from energy price fluctuations to universal credit changes. This has resulted in a remarkable 57% increase from last year in traffic to Big Issue’s award-winning online journalism.

The Group’s social investment arm, Big Issue Invest, has improved the lives of 1.5 million people through the 140 purpose-driven organisations they’ve invested in. It backs passionate social entrepreneurs to deliver projects that work for their communities, with around £45 million of assets under our management in 2023, a 20% growth on last year.

229 individuals were supported on their journey to employment through our person-centred recruitment service Big Issue Recruit. Dedicated to finding sustainable employment for people who face barriers to finding work, such as people struggling with their mental health, Recruit has ultimately placed 85 people into new job opportunities.

Paul Cheal, CEO of the Big Issue Group, said: “Our enterprising solutions to support people in poverty, be it direct or through our work with other organisations, are making a real difference to people’s lives. Whether though our work with vendors, our social investments, our person-centred recruitment service, or the impact of our campaigning, we’re determined to unlock social and economic opportunities that help millions endure the poverty crisis the UK is currently facing.

“We’d like to thank those who have supported us, be it readers, partners or investors. This report demonstrates that our work is needed more than ever.”

Read the full report to find out more about our work, and find out how you can support us today: bigissue.com/big-issue-group-impact.

^[1] There has been a stark rise in UK poverty rates in 2023: https://www.jrf.org.uk/uk-poverty-2024-the-essential-guide-to-understanding-poverty-in-the-uk#_-poverty-has-increased-close-to-pre-pandemic-levels

^[2] More than 1 in 5 people in the UK (22%) were in poverty in 2021/22 – 14.4 million people: https://www.jrf.org.uk/uk-poverty-2024-the-essential-guide-to-understanding-poverty-in-the-uk

Prime minister Rishi Sunak has recently used an Office for National Statistics (ONS) study into ‘economically inactive’ working-age Britons to evidence his belief that the way to get Britain working is by ending “sick note culture”. 

In the speech that laid out the Conservative’s plan for widespread welfare reform, the prime minister cited a February 2024 ONS report which showed a “worrying” proportion of younger potential workers are among a record high of 2.8 million people currently out of work. 

What the prime minister didn’t say is that the same study found that 600,000 people actually want to work, but can’t because of their poor health. 

At Big Issue Group (BIG), our message is clear – the answer to these issues is not forcing people into work they cannot cope with, it’s addressing the root causes of these health and wellbeing problems. 

The reality is that a large proportion of that 600,000 group will be people living in poverty and feeling the squeeze of an increasingly challenging financial situation on their physical and mental health. Poverty drives ill health, and ill health is a direct route into poverty.  

There are many fantastic social enterprises and enterprising charities that have been set up to try and break this cycle. Big Issue Invest’s portfolio reflects this. In 2023, we made more active investments in organisations offering health and wellbeing solutions than any other type of organisation.  

We currently have 46 active investments in organisations working to help people lead healthier lives. 65% of those are targeting the most deprived areas in the UK, demonstrating our commitment to deliver impact where it’s most needed.  

Smile Together is just one such investment. With a mission to tackle oral health inequality in some of the most remote areas of Devon and Cornwall, improving pathways to care for vulnerable, underserved people in their communities. Since Big Issue Invest’s million-pound investment in 2019, Smile Together has welcomed nearly 100,000 patients for emergency appointments. Impact that makes me smile, for sure. 

It’s not just BIG’s investment arm that’s targeting long-term solutions to poverty. In 2022 we launched Big Issue Recruit, a specialist recruitment service, with a very clear objective: to support people who face barriers to work into sustainable employment. Big Issue Recruit is a person-centred service, supporting individuals pre, during and post-employment. Our job coaches work closely with all candidates to ensure they are upskilled in appropriate areas and equipped with the tools required to successfully sustain employment. 

We all share the prime minister’s vision of getting more people in work. But to get them there, we need to think smart. We need people developing projects they know will work for their communities. We need social investment that helps those projects become realities. We need long-term solutions that lift people out of poverty. Tackle the cause and I suspect we’ll see the symptom of sick notes falling, without the need to limit how many can be handed out. 

Danyal Sattar, CEO of Big Issue Invest. 

Big Issue Group’s (BIG) work reached 9.6 million people in 2023 signalling a stark rise in reach, support and engagements with its services as Brits continue to be trapped in an ongoing poverty crisis.

The annual Big Issue Group Impact Report showed a 24% increase in the number of people reached by the organisation’s work. The group is hoping to reach 11 million people at the end of 2026.

That’s against a backdrop of rising poverty across the UK with more people needing support for escalating mortgages, rent costs, energy bills and food prices.

More than one in five people are now in poverty in the UK and 3.8 million people are reportedly living in destitution in 2022, including around one million children. This is almost two-and-a-half times the number of people in 2017. 

One of the country’s leading social enterprises and B Corps, the Big Issue is continuing to come up with innovative solutions to the crisis to change lives through enterprise.

Paul Cheal, CEO of the Big Issue Group, said: “Our enterprising solutions to support people in poverty, be it direct or through our work with other organisations, are making a real difference to people’s lives.

“Whether through our work with vendors, our social investments, our person-centred recruitment service, or the impact of our campaigning, we’re determined to unlock social and economic opportunities that help millions endure the poverty crisis the UK is currently facing.  

“We’d like to thank those who have supported us, be it readers, partners or investors. This report demonstrates that our work is needed more than ever.”  

The impact report showed selling the Big Issue magazine remains an enterprising solution for people facing poverty to generate an income.

A total of 913 people sold the magazine for the first time in 2023, and £4m was collectively earned by vendors across the UK, an 8% increase on 2022. 

In addition, there was a 57% increase in the number of people reading the Big Issue’s journalism online. In total, 7.9 million unique users sought out Big Issue exclusives on issues impacting people feeling the bite of the cost of living crisis, from energy price fluctuations to universal credit changes. 

Big Issue Group’s social investment arm, Big Issue Invest (BII), improved the lives of 1.5 million people through the 140 purpose-driven organisations they’ve invested in. BII backs passionate social entrepreneurs to deliver projects that work for their communities, with around £45m of assets under its management in 2023, a 20% growth on last year. 

Big Issue Recruit (BIR) also supported 229 individuals on their journey to employment. BIR is dedicated to finding sustainable employment for people who face barriers to finding work, such as people struggling with their mental health and placed 85 people into new job opportunities in 2023. 

Head here to read the full report and find out how you can support us today.

Today (Tuesday 9th April) the Growth Impact Fund (GIF) announces its investment of £55,000 in Living in Fitness. The Fund is a social impact investment fund developed by Big Issue Invest Fund Management (BIIFM) and UnLtd, targeted at £25 million to help underrepresented social entrepreneurs across the UK. The investment in Living in Fitness, makes this the Fund’s eighth investment.

Founded by Carl Davis in 2016, Living in Fitness (LiF) provides exercise classes for people aged 60 and over.  The classes increase fitness levels, encourage social connections and help older people  live independently for longer. In the past year LiF worked with around 140 individuals weekly. The investment will help them scale and reach 470 individuals through their exercise classes in 2024.

Lulu, aged 65 years said: “Joining Carl’s online morning classes three years ago has been a fun and easy way to get and stay fit for my husband and me: just showing up in the mornings for half an hour helps us both feel more flexible, gain muscle and strength, and it has given us the incentive to get out and move more in general. Carl is laid-back, sympathetic and friendly which is so refreshing. Joining the class long-term should be a fantastic preventative for the more serious disabilities of getting older and creakier as well.”

In the UK, 18% of the population are currently aged 65 and over, and the number of people aged 65-79 is predicted to increase by nearly 30% by 2070. Research suggests that NHS spending rises sharply after age 50, with the ‘85 and above’ bracket needing NHS spending of £7,000 a year on average, approximately seven times more than for the late-30s cohort.

People aged 65 and older have the highest risk of falling, with 30% of people older than 65 and 50% of people older than 80 falling at least once a year. In the UK, hip fractures makeup 1.8 million hospital bed days and £1.1 billion in costs annually, excluding the cost of associated social care. Exercise has been shown to reduce the risk of falls in older people.

Living in Fitness is championing an effective way to keep the older population of the UK fit, healthy and more socially connected whilst benefiting society as a whole through reduced pressure on the NHS.

Carl Davis, CEO of Living in Fitness said: “Exercise has always played a significant role in my life. It taught me valuable lessons in self-confidence, discipline, and goal setting. As a young black man, becoming aware of how the fitness industry didn’t cater well to an older demographic led me to create Living in Fitness. My personal connection with exclusion from spaces and a lack of representation compelled me to make a difference for older adults who desired to become more active.”

The investment in the business makes Living in Fitness the first organisation to go through the Fund’s Technical Assistance (TA) programme and receive investment. The TA programme is unique to the Growth Impact Fund, supporting its strategic objectives by building capacity in organisations founded by underserved entrepreneurs. As part of the initiative, Living in Fitness received £15,000 of grant funding in 2022 to prepare them for an application to the Growth Impact Fund. This paid for consultants to support Carl in developing his model and growth plan and to free up Carl’s capacity so he could engage in the process.

Sarah Faber, Investment Director for the Fund, at Big Issue Invest, said: “It’s fantastic to see Living in Fitness receiving investment from the Growth Impact Fund. We recognise that founders such as Carl are struggling against systemic racism and centuries of discrimination which have prevented capital flowing to them. The Technical Assistance fund is key to recognising those barriers and providing tailored support where needed, empowering the entrepreneur to access investment.”

Social enterprises interested in the Growth Impact Fund can visit growthimpactfund.org.uk to learn more and register their interest or email enquiriesGIF@bigissueinvest.com.

05 April 2024 – Big Society Capital, Big Issue Invest and 34 other organisations have called for the next government to implement a series of proposals which would direct £ billions of private investment into driving growth and eliminating poverty across the UK.

In a letter published in the Financial Times, the 36 organisations call for the following urgent actions to provide more ways for private investors to use their capital for national good alongside taxpayer revenues.

• Launch a national growth fund, to attract pension capital and other institutional investment into critical sectors for the UK’s prosperity and well-being.
• Create a Local Community Growth Fund, to use current government spending to attract private investment into growth opportunities identified by communities across the UK.
• Introduce incentives which encourage investors, whether banks, pension funds or foundations, to invest for long-term sustainable and inclusive growth, including:
  • revising its guidance on fiduciary duty, to allow and encourage institutional investors such as pension funds to direct more of their assets into inclusive growth opportunities across the UK.
  • actively encouraging trusts and foundations to invest a percentage of their assets in investments to encourage long-term economic and social value as well as a financial return.
• Improve financial inclusion and access to fair banking by establishing a Financial Inclusion Taskforce,
• Spend smarter to mobilise private investment for more cost-effective delivery of public services for example to reduce NHS waiting lists.

Nigel Kershaw OBE, Chair of the Big Issue Group and co-founder of Big Issue Invest: “There are currently more than 13 million people living in poverty, 1 in 5 of the UK population. Of these, nearly 4 million are classed as ‘destitute,’ meaning they do not have access to basics like shelter, food, clothing, or toiletries. It is time for our next government to focus on prevention, in order to remedy this unacceptable and worsening situation through more private as well as public investment.”

Stephen Muers, Chief Executive of Big Society Capital: “The UK desperately needs more investment, which is chronically low compared to our competitors. There is a huge opportunity to channel more private as well as public money into investments which improve people’s lives across the UK and drive genuinely sustainable and inclusive growth, as well as delivering a financial return.”

Using calculations of institutional investment available, as well as the track record on specific projects Big Society Capital and Big Issue Invest have delivered over the last two decades, the measures proposed could mobilise up to £50bn of new private investment into driving growth in the first decade of a new government, increasing opportunity and tackling poverty.

Implementing these measures would not only grow the economy and save taxpayers money but would also benefit communities in multiple ways, including by creating thousands of jobs where they are most needed, preventing thousands of children from going into care and keeping families together, and helping hundreds of thousands of people at risk of developing long-term health conditions.

Big Society Capital, Big Issue Invest and the other signatories to the letter represent organisations with a proven track record in attracting investment into the places that need it most, to address pressing challenges, such as providing social housing or early years education, as well as generating a financial return.

More than 35 investors are calling for the next government to direct billions of private investment into driving growth and eliminating poverty across the UK.

In a letter published in the Financial Times today (5 April), Big Issue Invest, Big Society Capital and 34 fellow organisations have detailed urgent actions that they hope will give private investors more ways to use their capital for national good.

The letters asks for the government to launch growth funds on both a national and local scale – a national growth fund to boost the UK’s overall prosperity, and a local growth fund to attract private investment into the growth opportunities identified by UK communities.

It also proposes the introduction of incentives which encourage investment in long-term sustainable and inclusive growth, and suggests a Financial Inclusion Taskforce should be set up to improve financial inclusion and access to fair banking.

The organisations want the next government to spend smarter to mobilise private investment for more cost-effective delivery of public services – for example, to reduce NHS waiting times.

The measures proposed could mobilise up to £50bn of new private investment into driving growth in the first decade of a new government – increasing opportunity and tackling poverty.

Implementing these measures would not only grow the economy and save taxpayers money but would also benefit communities in multiple ways. This creates thousands of jobs where they are needed, preventing thousands of children going into care, and helping hundreds of thousands of people at risk of developing long-term health conditions.

Nigel Kershaw, chair of the Big Issue Group and co-founder of Big Issue Invest: “There are currently more than 13 million people living in poverty, one in five of the UK population. Of these, nearly four million are classed as ‘destitute,’ meaning they do not have access to basics like shelter, food, clothing or toiletries.

“It is time for our next government to focus on prevention, in order to remedy this unacceptable and worsening situation through more private as well as public investment.”

Today (Wednesday 13th March) the Growth Impact Fund (GIF), a social impact investment fund developed by Big Issue Invest (BIIFM) and UnLtd, targeted at £25 million to help underrepresented social entrepreneurs across the UK, announces its first debt deal of £500,000 in Genius Within. 

The funding will help Genius Within, a specialist employment and training provider, support neurodivergent people into employment and help them to work best when employed. In the UK, it is estimated that over 15% of the population are neurodiverse, with 40% of neurodiverse employees reporting to be impacted most days in the workplace by their condition.

Founded in 2011 by Dr Nancy Doyle – also a visiting Professor to Birkbeck College, University of London – the organisation has supported over 24,000 people in the last 12 months. With a dyslexic CEO and a leadership team comprising 67% neurominorities, Genius Within co-produces services that blend lived experiences with the expertise of psychologists, workplace coaches, and HR practitioners.       

The investment from the Growth Impact Fund, will specifically be used to support the development of Genius Finder™, a proprietary strengths-based assessment platform, which has been designed to support neurodivergent individuals, and the organisations that they work for, and explores the most common work-related strengths and struggles. The platform presents a cost-effective solution to understanding the most effective reasonable adjustments in the workplace.

Aaron, who successfully found employment after working with Genius Within, was helped by Genius Within’s Genius Finder™ and said: “We (my coach Leanne and I) completed the Genius Finder™ to get to know me as an individual. Identifying my strengths and looking at aspects that I can do well but looking to improve. This was then generated into a report which was sent to me. We then discussed the report as this was going to influence our following sessions. Based on the report, Leanne gave me a range of topics for us to cover in each session. I chose ‘Time Management’, ‘Organisation’, ‘Stress Management’, and concluded on ‘Affirmation’ and ‘Interview Skills’, which I think tied in nicely.”

Jacqui Wallis, CEO of Genius Within said: “At Genius Within our goal is to show employers what systemic inclusion looks like for neurodivergent people and to help them achieve that. With over a decade working one-on-one and in groups with clients, and consulting with businesses of all sizes, we identified a common set of issues wherever we went. We created the Genius Finder™ tool to signpost solutions, remove barriers, and bring immediate accessible help to more workplaces. This investment from the Growth Impact Fund will allow us to think big, scale up our delivery, whilst remaining true to our core mission to maximise the potential of all neurodivergent people, and the organisations that employ them.  Working with the Growth Impact Fund is an excellent opportunity and we have great respect for the work they are doing in the social justice space.”

Sarah Faber, Investment Director for the Fund, at Big Issue Invest, said: “Genius Within is a testament to the unique insights and expertise that entrepreneurs with lived experience possess in relation to their work. We’re extremely proud to support Genius Within to further develop the GeniusFunder Pro through this investment.”

Social enterprises interested in the Growth Impact Fund can visit growthimpactfund.org.uk to learn more and register their interest or email enquiriesGIF@bigissueinvest.com. 

If there was any doubt whether money mattered when it comes to ending homelessness, just ask Lee. The former chef doesn’t believe he would be alive today if it wasn’t for the power of social impact investing. 

The rigours of life in the hospitality industry saw Lee walk away from it all: swapping kitchens for camping in the woods at the age of 41 to escape the rat race and 60-hour working weeks. 

He was homeless through choice up until June 2020 when he contracted peripheral neuropathy ataxia, a condition affecting co-ordination, balance and speech, and that meant that he had to head indoors for good. 

But moving out of street homelessness only compounded Lee’s problems. Life in between countless shared accommodation and hostels took its toll on him and he turned to drink to cope, sending his health into rapid decline. 

“I came from a professional background and living the free life and then I was just in a really grotty, filthy house surrounded by complete and utter fucking chaos, absolute hell,” he tells Big Issue. 

“I was turning to alcohol to relieve myself from the anxiety and the stress of living there. I was getting myself into a worse physical condition because of the alcohol but it was my only way of coping at the time. 

“My drinking was getting bloody serious. I was in intensive care six times and had over 20 hospital admissions in two and a half years. That was all due to the housing they put me in, like a hostile environment. This is what needs to be seriously addressed because I believe everybody in this world is entitled to somewhere safe to live.” 

The relentless pattern of being hospitalised, discharged, placed in more unsuitable accommodation and drinking himself back into hospital ended in May 2022. 

This time when he was told he was being discharged into emergency accommodation he said no. “I told them: ‘I don’t know about you guys but I’m starting to see a pattern emerging. Just listen to me’,” says Lee. 

He was placed in a one-bedroom self-contained apartment in Bristol for two months before social impact investing paved the way for him to move into the flat he has called home for the last 18 months. 

Lee was housed through a homelessness property fund. The fund operates by attracting capital from institutional investors such as pension funds to acquire properties, refurbish them to a high standard and then lease them to homelessness charities and housing associations. 

Big Society Capital (BSC) – one of the UK’s biggest social impact investors – launched research with the help of Alma Economics last week into how the funding has impacted the housing crisis. 

The study looked at five funds managed by social property fund manager Resonance encompassing more than 1,000 properties. It found social impact investing has kept 3,300 people, including 1,607 children, facing homelessness out of temporary accommodation. 

The model has saved the taxpayer £140 million on temporary accommodation in the last decade – a sizeable benefit at a time when the cost of these properties is threatening to overwhelm councils. 

• Why we need to change the narrative for social housing
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The gains also extend to mental health and criminal justice services and, as Lee demonstrates, other homelessness costs on healthcare. 

Providing safe accommodation alongside wraparound care delivers an estimated £17,500 in wellbeing benefits per person, the study found.  

The homelessness property funds also turbocharge government investment. BSC found reallocating existing housing investment from the Department for Levelling Up, Housing and Communities in 2021 and 2022 into homelessness property funds leveraged additional funding from investors to multiply the impact of government spending. 

Big Issue Invest, the Big Issue’s social investment arm, is also a social impact investor and has invested over £80m in more than 550 organisations aimed at unlocking opportunity for people affected by poverty – including those at risk of homelessness. For example it runs a £10m ‘‘London Affordable Housing Programme’ which is supported by the Greater London Authority and aims to support housing associations and charities in providing new affordable housing in London.

Big Issue Invest has also recently launched a new £20m fund (‘Social Impact Debt Fund IV’) which supports charities, social enterprises and mission-driven businesses across the UK to increase the supply of affordable housing and improve its quality, including wrap-around support. 

Now, BSC wants the government to utilise the model even more. The investor estimates that pouring a £100m government grant in could quadruple its projected impact over the next decade. That could catalyse an additional £650m from investors and house 23,750 people while generating £1.1 billion in savings on homelessness for the taxpayer. 

Gemma Bourne, managing director at Big Society Capital says: “The alarming reality is that vulnerable individuals and families are enduring substandard living conditions in temporary accommodation. This is not good for them and it puts a heavy financial toll on local authorities, pushing them dangerously towards bankruptcy. It also underscores a glaring shortage in social and affordable housing – with research showing that £16.9bn will be needed every year to address undersupply. 

“Our report demonstrates a solution which has now existed for over a decade – but for it to adequately address the challenge at hand, we need government to act now to actively crowd in further investment.” 

Homelessness property funds have already made a big difference for people like Lee, who celebrated his 50th birthday earlier this month. 

Having a stable base and wraparound support has enabled him to keep out of hospital and even rekindle his love of cooking now he is living in a place with a kitchen to himself. 

“The reality of my situation is that if I didn’t have this I don’t think I’d be here today and that is not being dramatic – what I went through to get here was awful and I wouldn’t wish it on anybody,” he says. 

“I’m a lot healthier now. I’m not drinking excessively to the point of the brink of death so it’s all positive and it’s just been amazing. 

“I’ve got an absolutely lovely flat in a lovely area and I know all my neighbours. When I look out my window I’m not looking at concrete, I’m looking at a park. It’s really helped me so much to calm down, find my feet again and regroup my life. 

“I eat really healthy food now – having my own kitchen has just been massive for me really.” 

Are you a charity, social enterprise or mission-driven business focused on tackling homelessness in the UK seeking funding to provide housing? Apply for Big Issue Invest’s Social Impact Debt Fund IV now.

This article is taken from The Big Issue magazine, which exists to give homeless, long-term unemployed and marginalised people the opportunity to earn an income. To support our work buy a copy!

If you cannot reach your local vendor, you can still click HERE to subscribe to The Big Issue today or give a gift subscription to a friend or family member. You can also purchase one-off issues from The Big Issue Shop or The Big Issue app, available now from the App Store or Google Play

• Power Up London is delivered by Big Issue Invest with funding by the UK Shared Prosperity Fund 
• Applications are being welcomed from new and early-stage social enterprises in London

Today (Wednesday 7^th February), Big Issue Invest (BII), the investment arm of the Big Issue Group (BIG), has opened up for applications to the second round of an investment programme, aimed at up to 20 new and early-stage social enterprises in London. 

Power Up Londonis an accelerator programme for London-based, diverse-led, early-stage socially impactful organisations addressing social and/or environmental issues and providing services to underrepresented communities.  

The programme is delivered by BII with funding by the UK Shared Prosperity Fund (UKSPF), a central pillar of the UK government’s Levelling Up agenda to invest in communities and support local businesses. 

Successful applicants will receive a fully funded package of non-financial support valued at £10,000 that includes a mix of mentoring, business support, training workshops and networking opportunities delivered weekly over four months. 

Participants will also benefit from introductions to other founders in the cohort, mentors, and investors. 

On successful completion of the programme, participants will have the opportunity to apply to a grant of up to £22,000 for their social enterprise, to be used for launching new products or services, expanding to new markets, or creating new jobs in their local communities. 

Carolina Cirillo, Programme Manager at Big Issue Invest, said: “If you are an impact-first early-stage social business in the Greater London area, we are calling on you to apply for this opportunity to elevate your organisation’s potential through our transformative programme.  

“We are excited to be able to offer the programme in partnership with the Greater London Authority and look forward to supporting social businesses to amplify their impact within their communities.”

The year- long programme launched in November with the first cohort, which will run until March. Cohort 2 will run from 15 April 2024 to 22 July 2024. BII is currently calling for applications from eligible organisations for cohort 2 before the closing date of 22 March 2024. 

Applicants should be based in Greater London, from initiatives, charities and social enterprises in the early stages of development (annual income must be below £500,000, registered within the last 5 years), led by or working with people from marginalised communities and aiming to grow their impact and business by creating new jobs, expanding to new markets, or developing new products or services. 

Visit https://www.bigissue.com/invest/power-up-london/ to learn more.