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10 Aug 2022 / 12:30 pm - 1:30 pm

What Is Social Return On Investment (SROI) & Should You Be Measuring It?

Online

Free

In recent years there’s been a noticeable increase in businesses that generate ‘profit for purpose’. These are businesses that are keen to grow their social and environmental impact alongside their profits, operating sustainably with future (as well as current) generations in mind.

This is a welcome challenge to previous profit-maximising and short-term-ist approaches to business, but the ethics of business owners wanting to do right by the communities they impact is only one factor. The growth in this movement is driven by conscious consumers who want businesses to operate more ethically and are willing to support them to do this – 49% of consumers are willing to pay more for sustainability (Deloitte, 2022).

With customers’ interest and knowledge growing it’s important that businesses are able to answer the questions asked of them regarding the impact they create or, better yet, pro-actively inform their customers of the good they are doing and how spending with them will help them to increase their impact.

The More Than Money lunch-and-learn series, hosted by Louisa Burman for Business & IP Centre Liverpool City Region, will help new and small businesses to understand what social impact is, how it applies to them and give actionable examples of how they can improve their own social impact. You can benefit from attending all three sessions or just one!

This first session, ‘What is Social Return on Investment (SROI) and should you be measuring it?’, will give you an overview which covers:

  • What social impact and social value mean;
  • Why understanding social impact is becoming increasingly important for businesses;
  • What SROI is and where it’s most commonly used;
  • The pros and cons of including SROI in your reporting.

There will also be time at the end of the session to ask general questions or questions specific to your business.

Register here