2022 was a year with significant macroeconomic uncertainty, as well as the ongoing aftermath of the Covid-19 pandemic. These external conditions have exacerbated many of the social issues we seek to tackle and have resulted in increased demand on many of the organisations, including social enterprises and charities, that we support through our capital.
Much of our work during the year was focused on understanding the potential impact as a result of the macroeconomic environment, working with partners to try to prepare as far as possible for continued uncertainty, while ensuring that we remain sustainable and effective in achieving our mission.
2022 also saw ten years of Big Society Capital and provided an opportunity to reflect on our journey so far. We know there is still much more to do, but it’s also important to recognise progress made in growing the social impact investment market - much of it in collaboration with our wide range of partners from across the sector. The evidence of this growth came in our annual market sizing research that estimated the size of the social impact investment market at nearly £8 billion – a near ten-fold growth in the ten years of Big Society Capital.
Our work continues of course, but I hope this look back at 2022 is helpful to highlight some of the key activities of Big Society Capital - through our investments and our wider market building in our mission to grow the amount of capital invested to tackle social issues in the UK.