SOCIAL Enterprise in York and North Yorkshire is growing according to new figures released to mark Social Enterprise Day.

Held yesterday, Social Enterprise Day formed part of Global Entrepreneurship week, in celebration of a industry that contributes £24 billion to the national economy.

According to research from loan investment provider Key Fund, social enterprises have a higher start-up rate than traditional small business and one in five of start-ups is now socially-driven, with there now being 180,000 social enterprises in the UK alone.

One such example in York is Be Independent, a provider of equipment and a 24 hour, seven day a week warden call service to promote lifelong independence.

Heather Barden, Be Independent’s chief executive, said: “Be Independent has operated as a social enterprise since April this year.

"Although the board and our staff are all very experienced in the equipment loan and telecare industry understanding how a social enterprise works has been an exciting challenge.

"We are now reaping the rewards of our social enterprise status by being able to make decisions and implement changes very quickly so our clients can realise the benefits almost immediately.

"We also have a workforce that feels valued with the ability to contribute to the decisions made within the business. Our board includes a staff director who was elected by employees to ensure colleagues receive a voice at board level.

"Being a social enterprise means that Be Independent can adapt to the changing needs of our clients and work to achieve our aims of supporting people to live independently for as long as possible."

Key Fund’s mission is to "break down the barriers to accessing finance" for social enterprises and all of its investments are to entrepreneurs turned down by traditional lenders because they have no assets or are considered high risk.

Sam Tarff, chief executive 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."