More than £320,000 was invested in the north east in the last year, new figures have revealed.
Key Fund – a Social Enterprise – provides tailored loan investments to businesses with a social or environmental mission.
Figures revealed on Social Enterprice Day, revealed that more than £3m was invested in the last year throughout the north of England, £322,000 of which was ploughed into the north east.
Sam Tarff, chief executive officer of Key Fund, said: “I think the message on Social Enterprise Day is to really raise awareness that it isn’t a niche sector, it’s simply ethical but successful and profitable business that entrepreneurs of all shapes and sizes and from all industries are embracing.
“Social Enterprises empowers local communities to take control of their economic destiny, or simply puts people and the planet before profit.”
Key Fund success stories include Spinning Tops in Seaton Delaval, a community-based childcare service.
Led by qualified childminders, Spinning Tops accommodates 30 children offering wraparound care and a holiday out of school club.
Julie Wake, Key Fund’s lead investment officer for the north east, said: “Spinning Tops has done a fantastic job of renovating the premises to provide a fantastic nursery and café.
“They have engaged with the local school and the painted walls were done by the sixth form art students who are rightly proud of what they have done for the nursery
“Alongside providing a quality nursery and after school provision, the enterprise is a good example of community engagement too.”