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We are a social enterprise, owned by our members, with the aim of changing the way the world accounts for value.
Social Value UK supports social generally accepted accounting principles (SGAAP) that can be used to account for and manage the social, economic and environmental outcomes created by an activity or organisation. We believe this social value should be measured from the perspective of those affected by an organisation's work.
Applying these principles will help you understand, manage and communicate the social value that your work creates in a clear and consistent way. If you apply these principles and use financial equivalents to value your outcomes, this becomes Social Return on Investment.
For organisations, measuring and managing social value means:
Whether you are a private enterprise, a social business, an investor or commissioning services, these Principles will help you account for the wider impact of your work and allow you to make more informed decisions. You can download our Principles booklet to find out more.
One advantage of a principle based approach is that it is very flexible. Different organisations create value in many different ways. A consistent approach to understanding and accounting for social value means that you can communicate clearly where and how you create value in a credible way.
"Excite-ed wanted to scale-up and grow, so were looking to engage in further social impact investment. We therefore commissioned an SROI report because we thought it would be useful to be able to evidence our impact to potential funders; we've found the process incredibly useful, and still use it extensively in bid writing."
Julia Bateson, Excite-ed
The biggest problem that is faced by all of us interested in social value, impact, returns - whatever language you prefer –is the lack of consistency. And yet I still keep hearing ‘we can’t support one approach’ or ‘organisations should be able to choose methods that are most appropriate to them’ or ‘small and start up organisations should be able to do something simple’. This general difficulty to go for consistency and standardisation is costing us dearly, not just in organisations that aim to create social value but in all businesses, since all businesses have wider effects than those reflected in their financial accounts. Of course many would not think a choice is required, that standardisation is not necessary. And of course if we had consistency and standardisation there would be some organisations that would not create as much value as they had previously argued, and some activities that do create value that would lose out.