Cost of livng: Scotland’s third sector needs support to ride out this storm - Lindsay Wake

Over the last three years, it feels like there has been a revolving door of economic uncertainty and once-in-a-lifetime world events, and going by current circumstances, that volatility shows no signs of slowing down. The cost of living is increasing at rates unseen since the 1970s and every week we hear of people and businesses struggling because of rising costs.

Scotland’s charities and social enterprises provided a critical community lifeline during the pandemic, supporting the health and wealth of communities across the country. Now, with another economic crisis looming, it is more important than ever to provide the support this usually thriving ecosystem needs.

Our annual impact report for 2021/22 shows that over the last financial year, SIS active loans and investments surpassed £41 million across 201 social enterprises, community organisations and impact-led businesses – a record increase during our 21-year history. At the same time, the activities of SIS, either directly or indirectly, benefited 4.3 million people, making a real, measurable, and sustainable impact on communities and people’s lives.

However, we know from experience that many of these social enterprises will acutely feel the impacts of another economic crisis, particularly at a time when they were recovering from previous shocks.