By Rozia Hussain

At ClearView Research, we believe in the power of research to illuminate societal challenges and drive positive change. In collaboration with the Sumerian Foundation, we undertook a research project to investigate the impact of support provided to social enterprises.

Sumerian Foundation provides skills support alongside patient and flexible finance to impactful social enterprises, with an intentional focus on those led by individuals from typically underserved communities. To gain “customer feedback", Sumerian Foundation recently commissioned ClearView Research to conduct independent research on the perceived value of support provided, as well as exploring the wider needs of these social enterprises

Findings from the project highlight the needs and challenges experienced by those from underserved backgrounds, especially when setting up and running their social enterprise.

These include:

1. Lack of access to the right information

2. Lack of access to network and peer support groups

3. Lack of access to (and understanding of) equitable, accessible and affordable finance options

4. Cultural backgrounds and the negative perceptions of debt

5. Language and expertise barriers

6. Lack of recognition of the existence and importance of those from underserved communities

7. Lack of access to funding and support generally

As a result, various suggestions have been made to address the challenges, and to make it easier and more appealing for people from underserved backgrounds to venture into the social enterprise world:

1. Appropriate terminology to be used when addressing working with people from underserved backgrounds  

2. Smaller amounts of investments (less than £100k) to be offered to social enterprises

3. Investors to engage more directly with networks that represent underserved communities, in order to become more directly accessible.

4. Investors to spend time with the current and potential investees, in order to be more aligned with the priorities of mission-driven enterprises.

5. Tackling perceptions of debt within underserved communities, and raising awareness that taking on patient and flexible finance can be beneficial.

6. Simpler, shorter application processes which are free from jargon.

7. Ensure diversity within investor’s decision-making bodies, to accurately reflect, represent and understand the needs of underserved communities.

8. Investors need to develop trust, this is extremely important and takes time to develop, and lead to a more equal power balance between investor and investee.

9. Investors to actively listen to the needs of those from underserved communities in order to effectively and appropriately meet these needs.

For further information about the Sumerian Foundation Impact Assessment project, please contact rozia@clearviewresearch.co.uk .