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Welcome to SCRT's June 2016 bulletin focusing on social finance; social investment and social banking. JOIN US...If you are interested in our work then why not join our 150+ members and take out SCRT free membership or associate membership.  Our banking partner Airdrie Savings Bank (ASB) is offering all organisations and individuals working or volunteering in the Scottish third sector an Anchor Deposit Account. This month, ASB also launched a Social Mortgage (see below) giving you the opportunity to bank with an ethical bank whilst supporting the Scottish third sector.  
Welcome to our monthly Guest Blog.  Each month, SCRT focuses on an organisation that might be of interest to our members and other readers.  This month, it is the Social Stock Exchange (SSX) which was launched in 2013 by the Prime Minister at the G8 summit. Although based in London, the SSX has plans will roll out regional exchanges over the coming 18 months and is planning one for Glasgow.  The idea is that regional exchanges will be tailored to bring local investors to organisations within the local area which will in turn provide direct investment to social enterprises and others...Read More

Airdrie Savings Bank launches the UK's first social mortgage for third sector personnel.

Employees, trustees and volunteers of thousands of Scotland’s third sector organisations and social enterprises can see their organisation benefit by £250 from the new ASB Social Mortgage. Many banks offer cashback to borrowers as part of their mortgage enticement; at ASB, they’ve decided to do it differently; the cashback from their “Social: Mortgage” product will go to the third sector organisation that the borrower works for, volunteers with, or acts as a Trustee ....Read More

OSCR's 2016 Scottish charity survey shows that Scottish charities continue to feel financial pressures.

OSCR's 2016 Charity Surveys tracks changes in attitudes amongst both Scottish charities and the public. Of particular interest in the Survey is the continuing pressures that charities feel about their finances with lack of income/funding the most common issue reported. Respondents concerns range from cuts to local government budgets through to decreasing levels of public donations....Read More

Nick O'Donohoe on his five years as CEO of Big Society Capital 
Nick O'Donohoe who resigned as CEO of Big Society Capital (BSC) earlier this year reflects on his time at the organisation and identifies what he thinks are the three main issues going forward. Perhaps one of his more interesting observations is the unrealistic expectation of social investors who want high financial returns together with high social impacts. However, BSC, under his direction was not shy in promoting the idea that maximisation of financial return and social return are possible...Read More 

Survey finds that 42% of organisations with sub £500k turnover struggling to access social investment.

On a similar theme to the OSCR story, the English support organisation CAN also undertook a recent survey of third sector organisations that showeed 71% of them found that access to finance for cashflow and growth is a real concern. Despite the proliferation of social investment bodies, 42% of organisations within the £100-£500k turnover bracket said they found it difficult or impossible to access social investment, while 55% of all organisations surveyed said they had the same difficulty accessing traditional lending...Read More

SIB's/PbR contracts not working for third sector or its clients.

Earlier this month the Economist featured an article on Payment by Results (PbR) which concluded that the model needed some adjustments but fundamentally worked and saved the government money. This resulted in a robust response from Children England and Newcastle University Business School which concludes that - 
                "PbR is a destructive, costly farce. It pays organisations to produce data, rather than focussing on the real job in hand. And in so doing, it undermines good practice in social interventions and wastes huge amounts of taxpayer resources"...Read More

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