The University of Oxford’s Saїd Business School and the Cabinet Office released a report that suggests the UK is leading the way in effective policy around social enterprise and social investment, which is contributing to the debate in other countries.
This may come as no surprise for the nation that first implemented a new social investment instrument called Social Impact Bonds (SIBs).
Last November, the Cabinet Office and the Saїd Business School invited over 70 leaders in the social investment sector from more than ten countries to a symposium that discussed emerging public-private partnerships, new social finance instruments, and recently launched government initiatives.
“This was the first time international governments have come together to talk about social investment and a fantastic opportunity to showcase the innovative products and organizations developed in the UK,” said Minister for Civil Society Nick Hurd.
“Social Impact Bonds are a UK innovation that is being applied by governments all over the world, as they strive to procure services in a way that aligns financial and social incentives for governments, service deliverers and private investors,” he added.
The early report highlights eight nations that have already implemented or have since indicated interest in developing SIBs, including Australia, Canada, France, Germany, Ireland, Israel, South Korea, and the United States.
“We remain committed to sharing the fantastic work developed through on-going collaboration between the Government, social purpose organizations and the social investment community and look forward to progressing this through the UK’s presidency of the G8,” said Hurd.
Social Enterprise Buzz is a media company dedicated to covering social enterprise news from around the world. We publish a range of stories from startups to entrepreneurship, innovation, and finance, which showcase business making the world a better place. Read more.