Many ex-offenders are reconvicted within one year of release. There is plenty of research to say that many prisoners think having a job is a vital part of keeping them out of prison. The problem is finding employment on release can be difficult, particularly for those who were unemployed before they were convicted.
It’s an important day for social impact bonds (SIBs) as London-based youth charity, Think Forward, has successfully delivered one of the first social impact bonds in the UK to tackle youth unemployment and provide a return to investors.
The Department for Work and Pensions’ Innovation Fund was launched in 2012 to support payment-by-results programmes that enable disadvantaged young people to participate and succeed in education and training. Big Society Capital has invested in five of these Social Impact Bonds, including Think Forward and New Horizons. This summer, the first cohorts of young people on these two programmes sat their GCSE exams, and far exceed all predictions.
The Government is at risk of failing to meet its target to halve the disability employment gap unless charities and social enterprises are given an even playing field to deliver public service contracts, says a new report launched today.
Having previously managed a European Social Fund project, I’ve developed a very close eye for detail, dealt with a lot of data and have experienced a payment by results contract. Despite this, I don’t think anything could have prepared me for my next step into the world of social investment.
Writing in today's Guardian, Katie Allen looks at how K10 is using social investment from Impact Ventures UK (which Big Society Capital invested into) to support young people into apprencticeships in the construction industry.
Last month, Prince Charles visited the Homeground Hostel in Liverpool to meet young homeless people helped by Local Solutions, a charity supporting vulnerable and excluded people throughout the Merseyside region.