Newcastle-based strategic business consultancy, Prosper, has reached a major milestone in their social value fund investment by paying out over £2.2million to its partners, to reinvest into their communities according to their specific needs.
Social Value has been a core principle of Prosper’s since its creation in 2011, and numerous schemes have been set up around the region to create more employment opportunities, develop life skills and provide specialist guidance and advice, with the aim to boost the life chances and improve the quality of life for housing provider customers.
Rod Brasington, chief executive of Prosper, said: “Our social value fund is a great way for our partners to invest in their communities and create opportunities they didn’t think were possible. Our partners get a percentage of the fund depending on what they spend with us throughout the year. The fund has really made a difference in lots of communities across the North East.”
“The projects the partners set up are all varied, from cooking classes to CV writing to Community Hubs – they’re all great initiatives that benefit a whole range of people.”
The £2.2m dividend funds projects which generate additional social value benefits through their delivery, with some projects returning benefits valued at £9 for every £1 invested.
The company also have a small-scale funding pot of £10,000 called Launchpad which is part of the social value fund. This fund is designed to help Prosper’s partners with additional costs like transport for getting to and from interviews, help paying licence fees for forklift truck operatives, protective clothing costs, training courses and more.
Rod, added: “Although this is a smaller fund, it has benefited so many of our partners since we launched it, making a difference to identified individuals.”