Social Enterprise and the Olympic Legacy

In times gone by, harvest time meant groups of neighbours helped each other in turn to get their crops in.

 

On one level, that seems like a simple business model, a lot less complex than, say, the game of credit default swaps.  But it’s a model that is steadily gaining popularity in the International business world.  The public sector across Europe accounts for approximately one sixth of GDP.  This is massive purchasing power and could be a driver in economic development.  Existing budgets could be used more effectively to give social and economic benefits to communities.

 

Social procurement places social considerations at the heart of the contracting process.  Procurement policies for the London 2012 Olympic Games insisted that ‘social enterprises are particularly important in developing the Olympic Promise’ in such areas as contracting for business opportunities. Large contractors were encouraged to use social enterprise in subcontracting and many trade unions were also involved in overseeing this policy.

 

When we read about creating an Olympics legacy, wouldn’t it be great to hope that the ‘Olympics Promise’ goes some way to give Social Enterprise the same support as Private Enterprise. Here’s hoping.

 

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