By enabling social enterprises to deliver health and social care services, the Social Enterprise Investment Fund aims to improve the quality of services for patients.
Social enterprises are organisations that are run along business lines, but where any profits are reinvested into the community or into innovative service developments. There are a number of different forms of social enterprise such as community interest companies (CIC), charities, community benefit societies and co-operatives.
Social enterprises are uniquely placed to involve patients, service-users and staff in designing the services they deliver, improving quality, and tailoring services to meet patients' needs. Because of this they often have a better understanding of what specific groups and communities need.
The Social Enterprise Investment Fund has already provided investment to a number of social enterprises.
The Government's vision for reform in health and social care services includes developing a provider market that is increasingly plural and diverse. This sets the context for new kinds of organisations to emerge, including social enterprises, providing more choice for patients and better quality, more responsive services.
The White Paper, 'Our Health, Our Care, Our Say' (January 2006), identified social enterprises as key means of delivering high quality health and social care services tailored to the needs of communities. It included a commitment to establish a SEIF from April 2007 to:
Most recently the High Quality Care For All: NHS Next Stage Review Final Report and the Primary and Community Care Strategy set out a vision for this change, stating the need to empower staff and give patients more choice.
The NHS Next Stage Review includes a number of recommendations that present huge opportunities for new and existing social enterprises. Significant recommendations include: