Big Issue Invest (BII) has launched its 2022-2023 Impact Report.
The report revealed that the social investment arm of The Big Issue supported 140 social enterprises across the UK and had £45 million Assets Under Management (AUM) as of 31 March 2023.
The report detailed how, in turn, those 140 social enterprises were able to support 1.5 million customers across the UK in the same period. 94% of investments made by BII contribute to core solutions to poverty, extending the mission and work of the Big Issue Group.
The organisation also reported that, of BII’s total investment portfolio, nearly two thirds of investees are based in high areas of deprivation, with almost 70% delivering impact at a local level, whether within their community, local authority or multiple local authorities, according to the UK Index of Multiple Deprivation.
As detailed in the report, 12% of investees are specifically working with persons of an ethnic minority group, marginalised gender and/or from LGBTQIA+ community.
9 out of 10 investees supported by BII have experienced improvement in their organisations’ impact as a result of BII’s support and investment.
Of the total number of investments, 14% organisations support people living in poverty and/or financial exclusion, 14% are living in precarious housing or homeless and 9% support people with mental health needs and conditions.
Danyal Sattar, CEO of Big Issue Invest, said: “Over the past year, the organisations we have been supporting have worked tirelessly to adapt and expand operations to meet the growing need for their work across the most deprived areas of the UK. This work not only improves the lives of people accessing the services, but their families, communities, and society.
“We are exceptionally grateful to all the organisations who chose to work with us during the year. In turn, we are proud to report that 79% of our investees are highly likely to recommend Big Issue Invest to others for investment in order to support people in their local communities. We remain at their service.”
Rachael Pearson Bone and Steve Booth, Directors of the Inside Academy CIC, who received £35,000 in funding in July 2023, said: “Big Issue Invest has been a pivotal support for our budding social enterprise. Michael Burns, Investment Manager at Big Issue Invest, our point of contact, upheld BII’s promise of assistance, even when we initially lacked trading experience. Over the past year, Michael stayed in touch, monitoring our progress, and advising when the time was right to apply for a loan. His dedication and guidance were invaluable, culminating in a successful application.”
For more information and to download the 2022-2023 Impact Report, please visit www.bigissue.com/invest/reports-publications.