Four routes to recovery and growth for social ventures

If times were hard for businesses during Covid, the rises in energy prices spell even more angst and uncertainty in the months ahead.

But – as Jonathan West highlights in this first in our new series of short ‘Social Business Sprints’ – challenging times also present important opportunities for social enterprises.

Not only are social entrepreneurs experienced at supporting people and communities who are most affected by the cost of living, but they also have the drive and innovation – the “disruptive spirit” – to refocus their businesses, reorganise their approach and develop new sources of revenue.

• Get your social enterprise Fit for the Future: explore our special series with Buzzacott

In Four routes to recovery and growth for social ventures, West – a director in the corporate and business services team at Buzzacott accountants – also highlights the importance of stress testing business plans and reforecasting where needed, on finding ways to “ensure that the cash you have is working as effectively as possible”, and on looking at mergers as an opportunity to sustain your own social business, while supporting others who might be struggling.

Watch the 3-minute video above for the first Social Business Sprint – quick tips from the experts on keeping your social enterprise fit for the future.

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