SCOTLAND'S third sector is thriving, according to a report from Social Investment Scotland, which says its 66 customers have sustained more than 1,300 jobs over the past year and generated a turnover of nearly £50million.
SIS is the sector's leading source of investment finance and has played a "key role" in making 55 new investments across Scotland in the past year, worth £7.7million from its own investment capital and the Scottish Investment Fund which it manages on behalf of the Scottish Government.
The Social Impact Report also paints an optimistic picture for the sector in 2015 with 66 per cent of customers reporting increasing turnover on the previous year and 73 per cent anticipating further increases in the year ahead.
Year-on-year, customers have shown less reliance on grant funding and increased trading income. The percentage of customers with no grant funding has grown from 12 per cent in 2012, to 19 per cent in 2013 and now 30 per cent.
SIS chief executive, Alastair Davis said the data indicated that social investment was working.
"Not only are we seeing organisations sustain jobs, increase their turnover and grow in capacity, they are becoming less dependent on grant funding as a result of investment," he said. "Particularly as the relationship between economic growth and social justice in Scotland's future is being hotly debated by political leaders, this report highlights the valuable role that the social enterprise sector has to play.
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