Many people think of The Big Issue as just a magazine. But a new report from The Big Issue Group’s social investment arm, Big Issue Invest, shows just how far the organisation goes to dismantle poverty and tackle inequality in the UK.
Big Issue Invest (BII) supported more than 180 organisations across the UK during the pandemic, its 2020/2021 impact report shows, with almost £40 million in investment, grants, and additional help and advice for social enterprises and charities across the country.
“Driving everything we do, we will champion impact-first investing; we will push for social equality and we will provide a broader range of support that is ‘more than money’,” said Danyal Sattar, BII chief executive.
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As well as much needed cash injections, the organisation has provided technical assistance in areas such as financial sustainability, developing the social investment sector with new tools and approaches, and sharing lessons with investees and other investors.
Nearly two-thirds of the firms which received funding are in areas of high deprivation, according to BII’s impact report for the 2020-2021 financial year, released today, and they collectively support more than 1.1 million people across the UK.
Of the total number of investments, 16 per cent support people living in poverty and/or financial exclusion, 11 per cent support people living in precarious housing or who are homeless, 12 per cent support vulnerable young people, 11 per cent support people experiencing unemployment and 9 per cent support people with mental health needs and conditions.