The Cabinet Office has announced that later this year it will be issuing a call for evidence as part of a review of the “mission-led” business sector in the UK.
Mission-led businesses, the Cabinet Office says, use their business models to achieve both social and economic impact and have a clear mission to address critical social problems. Generally speaking, however, they do not register this mission in legal terms in the same way that charities and CICs do.
It is estimated that there are as many as 195,000 of these businesses in the UK, employing 1.6 million people. In 2012 these businesses were estimated to turn over £120 billion a year. They are adopting new solutions to longstanding social issues like aged care, dementia and unemployment.
The review will examine how this emerging sector can be supported to double in size over the next decade. The review will shortly issue a Call for Input and report by the end of 2016.
→ There’s no further information at the moment but you can keep an eye on announcements here.
→ The terms of reference for the view are here.