VSNW: Towards a Social Value Economy A Vision for Cheshire and Merseyside

We are pleased to share Voluntary Sector North West’s (VSNW) transformative report, Towards a Social Value Economy. This roadmap outlines how public, private, and voluntary organisations can maximise community impact by embedding Social Value principles into their operations.

What is Social Value?

Social Value refers to the additional social, economic, and environmental benefits generated by organisations through their activities, beyond standard outcomes. It focuses on creating positive change in local communities, such as:

• Supporting disadvantaged groups into employment.
• Enhancing health and well-being.
• Reducing environmental harm through sustainable practices.

The roadmap has three key aims:

1. To set out why every organisation has a stake in moving towards a Social Value Economy in Cheshire and Merseyside that maximises Voluntary, Charity, Faith and Social Enterprise (VCFSE) sector Social Value outcomes
2. To present an honest assessment of how Social Value in the commissioning cycle is currently being experienced across Cheshire and Merseyside
3. To describe a set of shifts and enabling actions every organisation must take if we are to realise the full potential of Social Value to change lives across Cheshire and Merseyside and make a clear call to action – to commit to Partner VCFSE – to kickstart the journey

Why This Matters

Cheshire and Merseyside face challenges, including inequalities and limited access to opportunities. The report highlights the VCFSE sector’s role in addressing these issues, fostering economic resilience, and reducing health disparities.

Kathryn Sullivan: CVSCE CEO - "The VCFSE Sector in Cheshire East is consistently delivering significant social value under the radar. This report from VSNW highlights the need to collectively describe this value, in partnership with statutory and health bodies. CVSCE has invested in the Social Value Engine as one way of doing this - if you would like to start a conversation about how you might be able to track the social value of your activities, get in touch at: management@cvsce.org.uk"

Key Recommendations

To build a thriving Social Value Economy, the report proposes six crucial shifts:

1. Purpose-Driven Approach: Align Social Value goals with local needs.
2. Consistent Application: Implement clear, unified Social Value standards.
3. Outcome-Focused Decisions: Prioritise quality over quantity in assessing impact.
4. Collaborative Design and Delivery: Foster stronger partnerships with the VCFSE sector.
5. Accountable Management: Ensure Social Value commitments are rigorously monitored.
6. Supported Capability Building: Enhance skills across all sectors.

The Partner VCFSE Commitment

Organisations are encouraged to pledge meaningful collaboration with the VCFSE sector by 2025, ensuring that every pound spent generates lasting benefits for local people and the environment.

You can read the report in full below along with its summary. You can also find out more about the report and the work of VSNW here.