2019 Scale AcceleratorComments Off on 2019 Scale Accelerator
Spring Impact recently published a research report produced in partnership with Numbers for Good, with support from the Argidius Foundation. The report identifies seven key barriers to effective advisory services focused on scale–– technical assistance (TA)–– for small and growing businesses (SGBs), and recommends the necessary steps to help more SGBs reach their scale goals.
What if we were to tell you, that right now, there are a group of extraordinary organisations providing approximately 66% of employment opportunities, and generating 86% of new jobs in developing economies?. That these organisations have the potential to transform economic development and access untapped markets of an estimated 4.5 billion new customers in 92 countries, valued at approximately $5 trillion USD. That they are providing quality jobs, goods and services locally, and by doing so are lifting families and communities out of poverty, and generating larger-scale socioeconomic prosperity.
We’re not talking about a tech company, or a government initiative, but small and growing businesses (SGBs). SGBs are interesting for a few reasons. Firstly, they are distinct from the broader group of micro, small, and medium three enterprises (MSMEs) in that despite their size, they have strong ambitions and potential for growth.
Secondly, in their quest for financial sustainability they create social impact, economic development, and increase access to critical goods and services for underserved communities.
Since FoodCycle started cooking, back in May 2009, they’ve served over 125,000 meals – cooked by volunteers who rescue good food and cook nutritious meals for their guests. FoodCycle combine surplus food, volunteers and spare kitchen spaces to create nutritious three-course meals for people at risk of food poverty and social isolation.
Growing from the London-based ‘hub’ to eight around the UK in its first three years, FoodCycle recognised they needed external assistance to further scale nationally.
FoodCycle approached Spring Impact to help develop a strategic plan to scale their social impact in a sustainable way. FoodCycle has now scaled to over 29 new locations and is on track to fulfilling ambitious growth plans to reach thousands more lives.