The Social Value Exchange leverages public procurement spend to maximise Social Value. Under the Social Value Act, UK govt can compel their suppliers – on whom they spend £290bn each year – to create additional community benefits. That is, government suppliers have to put something back into the local place that they are providing their services or goods on behalf of the government.
For a number of reasons, this has proven a real challenge – for government and suppliers alike. We’ve come up with an aggregator platform as a solution: in some ways the Social Value Exchange is a little bit like AirBnB, an aggregator platform lots of people will know. AirBnB brings together units of space – rooms or houses – and matches them with people looking for places to stay.
The Social Value Exchange brings together units of local ‘need’ – in the form of local community projects – and matches them with government suppliers looking to create Social Value. It’s a win-win for suppliers and community projects, with the former winning more government work and the latter getting extra resources.
And we’ve designed our aggregator platform so that if a community organsation is delivering stuff that’s addressing local outcomes (goals that seek to improve a local place), it gets more resources than if not.
So, actually, it’s a win-win-win because government sees more resource going directly into community organisations delivering local outcomes. Community organisations that are helping government manage demand for more expensive statutory and non-statutory services.
We’d love to hear from you…
Get in touch with the team.
Email: hello@socialvalueexchange.org
Telephone: 020 3488 6223