The Government could help the social enterprise sector treble in size by 2020 by introducing a range of policy changes, according to the Social Enterprise Coalition.
In a manifesto published yesterday, the coalition lists measures that it says would help the social enterprise sector grow.
- All front-line public sector staff should be permitted to establish independent social enterprises.
- The Government should develop a social investment wholesale bank, which would fund a retail market for social enterprise investment.
- Tax reliefs such as community interest tax relief, which is open only to social investors, and the Enterprise Investment Scheme, which is open to all investors in small businesses, should be simplified and tailored to provide tax incentives for social investment.
- The Government should develop a community allowance, which would allow community organisations to pay people on benefits to carry out work to strengthen their neighbourhoods without their entitlement being affected.
- Banks should be encouraged to invest in underserved communities through a community reinvestment act.
- Communities should have the right to come together and buy resources that could be developed for the communal good through a 'community right to buy' scheme.