Video: What does social enterprise mean to big business?

(Article originally posted at Social Enterprise Live)

At the launch of an ambitious social enterprise initiative promising 1,000 new jobs in the Olympic host boroughs, Tim West finds out what big business thinks of social enterprise and asks whether there really is a shift from corporate social responsibility to corporate social innovation.

On Thursday 29 September, business-led charity Business in the Community and two giant corporate brands launched a new social enterprise programme, arc, at Stour Space, Hackney Wick. The ambitious initiative is promising 1,000 new jobs in the Olympic host boroughs.

We spoke to some of the big guns from the key partner organisations. The video includes views from Stephen Howard, chief executive, BITC; David Sproul, chief executive, Deloitte; Peter Mather, European vice president, BP, and social enterpreneur Steve Finn.

Business in the Community arc launch from Social Enterprise Live on Vimeo.

Video transcript:

Tim West, Editor, Social Enterprise Live:

We’re here today at Stour Space, an amazing social enterprise venue and cafe in East London that overlooks the Olympic Stadium and the Olympic site, for an amazing new initiative that brings together the Corporate sector and social enterprise in a project that’s all about the Olympic Legacy.

We’ve come down to find out exactly what arc, this new initiative, means, and what social enterprise and social innovation means to big business.

Peter Mather, Head of Region, Europe, BP:

arc is a social enterprise initiative that we’re very proud to be one of the Founding Partners of. It’s all about initially the six boroughs that are hosting the Olympic Games, and it’s about helping social enterprise businesses get off the ground and continue with what they might have already started. 

It’s about sustainable legacy – that’s the key thing for me.  It’s about helping these businesses achieve their plans and keeping them around for a long time after the Olympic party has moved somewhere else.

Steve Finn, Senior Operations Manager, Blue Sky Development & Regeneration:

arc is going to be instrumental with us winning contracts in and around the Olympic boroughs.  We are in West London, which is all very well, and we want to go to East London.  We want to spread our wings.  We want to touch more people, and arc will be instrumental with us to help the ex-offenders of East London to find work.

Tim West:

How would you say that this social enterprise / social innovation space is different from classic philanthropy or Corporate Social Responsibility?

David Sproul, Chief Executive, Deloitte:

It’s different to Corporate Social Responsibility because it does go to something that’s really at the core of the future success of our economy.  Part of that growth of our economy’s going to come from encouraging those smaller businesses in the community to really grow.  It’s very different, but it’s part of that suite of things we need to do.

Stephen Howard, Chief Executive, Business in the Community:

We are living in very unsettled economic times, so people are being much more careful about how they spend their money and the results that they expect to get from that.  Businesses are also realising that their customers expect them to behave in a certain way, their employees expect them to behave in a certain way, and that this is acting as an important differentiator. 

So what we’re seeing through opportunities like arc is organisations, large and small, saying, “If we collaborate, not only put a little money on the table but more importantly commit to actually put our business models, our people, our energy behind creating a new workforce out there, very positive things can happen.”

Steve Finn:

For a small social enterprise, like Blue Sky, rubbing shoulders with the high and the mighty of BP and Deloitte is fantastic.

Tim West:

Had any offers of contracts at all?

Steve Finn:

I’ve had a little sniff, a tickle, but I can’t tell you as it’s all top secret at the moment. (Laughs)

Text: To find out more about the arc programme visit www.buildingbetterbusiness.org.uk.

Interviews and video by Matter&Co, the people behind Social Enterprise Live.