£1m impact investment ploughed into UK social care

Funding of £1m from social investment bank Big Society Capital is going to be used to launch a new programme to improve service levels for people with social care needs. 

 

The community interest company Developing Empowering Resources in Communities, which operates as a social investment finance intermediary, will invest the money, on loan from Big Society Capital, into seven different programmes. 

 

A statement about the project said that despite the UK’s ageing population the number of people getting support in their home had fallen over the last five years, leaving an estimated one million people without help. 

 

“As a result, care services are there to respond to crisis rather than provide the support needed to prevent vulnerable individuals from reaching crisis point, which is a classic scenario for social ‘bridging’ investment,” it said.

 

As part of the project DERiC will provide expertise and investment for community organisations that deliver support to local people who receive personal budgets. The aim is for people to have more support and greater choice about the type of support they receive.

 

As part of the project local volunteers, known as Community Supporters, will also supplement this help. 

 

The programme has already been trialled by Leeds City Council, and according to the statement, it increased contact time by 25 per cent. 

 

Four programmes will now take place in Leeds, one in Sandwell, one in Belfast and one in Medway, covering 3,000 people who will be eligible to receive statutory social support. DERiC said it also aimed to raise further funds to invest in similar projects over the next five years. 

 

The statement said that if the scheme was rolled out nationally the savings could be as much as £1bn. 

 

Nick O’Donohoe, CEO of Big Society Capital, said the elderly and vulnerable may not always receive the care they needed due to the system being under strain. “Social investments are making it possible to raise the standard and depth of care for the vulnerable in our communities,” he said. 

 

“We are determined to see more programmes like this across the country and will be working closely with Leeds City Council to ensure that all local authorities understand what can be achieved through accessing differing sources of funding.”

 

Ritchard Brazil, programme manager of DERiC said: “Engaging with the community has meant that vulnerable older people have become much more valued and local people who are Community Supporters – trained and supported volunteers – have been able to use their involvement to develop further their expertise and skills, which will be of real use to them in other settings or opportunities”.