We are delighted to share the Resonance Growing Enterprises 2024 Social Impact Report – the very first time we’ve brought together the outcomes and insights from all three of our Growing Enterprises funds into a single report.

Until now, the South West and West Midlands Social Investment Tax Relief (SITR) Funds and the Health & Wellbeing Challenge (South West) Fund (HCWF) have each reported separately on their impact. This year’s report combines them, offering a collective view of the difference these funds are making for individuals, families and communities. By taking this united approach, we can see not only the breadth of social impact created, but also how the funds complement one another in tackling poverty, improving health and wellbeing, and strengthening the social enterprise sector.

Achievements across the funds in 2023/24 include:

• 49 social enterprises reporting on their impact during the year
• 246,000 people supported through their services
• 1,115 people employed by investees
• £970,000 repaid to investors in the last 12 months
• 6 loans fully repaid

Our investees continue to tackle some of the most pressing challenges facing communities today – from unemployment and poverty to health inequalities and social exclusion. Together, they are creating meaningful work opportunities, strengthening relationships, and improving health and wellbeing for thousands of people.

Crucially, our Growing Enterprises funds don’t just provide capital. They also offer hands-on support, advice and connections to help social enterprises grow sustainably. In our latest survey:

• 89% of HWCF investees said our investment significantly increased their impact
• 86% reported stronger organisational resilience since investment
• 76% improved products, services or business strategy as a direct result of our support

This combined reporting also sets the stage for the next phase of our journey. Building on over a decade of experience, we are preparing to launch the Resonance Enterprise Investment (REI) Fund. This new evergreen fund will provide a range of finance products to support high impact social enterprises, helping them scale their influence and continue tackling socio-economic inequality, health and wellbeing challenges, and the transition to a fairer low-carbon economy.

Read the full Resonance Growing Enterprises 2024 Social Impact Report HERE to discover the stories of our investees and the lasting change they are creating.