Looking ahead

Despite this encouraging progress, there is more to do.  We will continue to work towards a social investment market that:

Delivers the full spectrum of investment finance that community-scale charities and social enterprises need 

The right finance is still not always available at the right time to support the various stages of an enterprise journey, from support with ideation, to enterprise grants for early-stage development, to investment products with patient and flexible features. Access will continue to work towards a time when this full spectrum of finance is in place, one that can meet the wide variety of financing needs that exist.

Is supported by a larger pool of capital from public, private and philanthropic sources and delivers a greater variety of fund structures

Delivering the full spectrum of finance will require greater volumes of both concessional capital and capital seeking a market-rate return. In particular, much greater levels of concessional finance will be required to meet the growing demand for enterprise grants and patient capital in the years ahead.

Reaches more underserved communities and places to ensure they have access to the investment that they need 

Whilst the social investment market has made great strides in increasing its reach and the diversity of investees, gaps remain. More needs to be done to fully embed principles of equity of access, whether considering geographical spread (with cold spots in some regions and rural areas) or the diversity of communities and leaders, particularly the prominence of those with lived experience.

Structures the delivery of finance in ways that recognise the strengths and needs of different social investors, helping them to grow and build resilience over time.

Access has always seen that its provision of subsidy into fund structures is not only facilitating the flow of finance to charities and social enterprises, but is also building a stable and resilient market of finance provision for the longer term. We want to go further, ensuring that the flow of capital, particularly our subsidy element, enables social investors to innovate, be responsive and flexible, and strengthen their capacity – rather than inadvertently limiting these things.

Is able to continually develop and advance itself, because knowledge and learning is shared between stakeholders, and because collaboration is increasing

Access will continue to share our own data and insights in a variety of ways. We will increasingly look to collaborate with others, including through the Blended Finance Collective, to accelerate the spread of emerging good practice.  If the flow of finance we provide builds resilience in our partners as we anticipate it will, then this should increase their capacity to collaborate, and share knowledge more widely. 

Is easier to understand and navigate for community-scale charities and social enterprises as a result of improvements to infrastructure, connectivity and communication

Charities and social enterprises, and others in the wider voluntary sector, often report that they still find the social investment market confusing and impenetrable.  All of the advances listed above will achieve little if the sector is misunderstood or viewed with scepticism by many of those it seeks to serve.  Access will continue to support critical infrastructure and market development initiatives (those initiatives that help the whole market to organise itself and make navigation more effective) – including the ongoing development of Good Finance.