The OnP column: News, views & inspiration
David Puttergill, October 2014 Associate, shares this fortnight’s highlights from the social enterprise scene, plus some insider news from the On Purpose programme.
Goldman Sachs lose $1.2m, claiming success
“The programme…did not work at Rikers Island…[however the] social impact bond worked”, such is the conclusion on the US’s first SIB from its investors. They argue that because they had the data to know that the intervention didn’t work, and that the state didn’t have to pay, the SIB did exactly what it should have, even if the programme didn’t work in this context. You can’t knock them for their positivity.
Lets put poverty in a museum
Revisiting a topic from his Nobel Prize acceptance speech, Mohammad Yunus still thinks that “we can create a poverty-free world if we collectively believe in it”. If he has his way, the next addition to the extinction list would be unemployment and net carbon emissions. Read more about his ambitions and the responses of some other leading lights at the Social Enterprise World Forum in Milan.
Social businesses are good investments
A new study has shown that average returns in impact funds have matched those in traditional funds over the last 15 years (c. 7%). This isn’t just negatively screened funds, but those with an active impact focus. Have a look for the full report for more details.
What we learned last week:
Last week was about softer skills. First how to manage Governance and Boards, a session led by Patrick Dunne drawing on his extensive corporate and social sector experience. Then learning how authenticity is the most powerful tool in public speaking with the fantastic Annik Rau from PONY Express.
From our network:
The April 2015 cohort are off to Embercombe this weekend for a personal development weekend. It’s a fantastic part of the programme, good luck! My October 2014 cohort are beavering away at plans for On Purpose’s fifth year celebrations later this year, keep an eye out for more on this later.