Social Enterprise Investment Fund
Encyclopedia
The Social Enterprise Investment Fund (SEIF) is a Department of Health
fund which provides investment to assist social enterprises delivering health and social care services. Since June 2009, the fund has been managed on behalf of the Department for Health by a consortium consisting of Futurebuilders England
and Partnerships UK
.
The White Paper, 'Our Health, Our Care, Our Say' (January 2006) identified social enterprises as key means of delivering high quality health and social care services tailored to the needs of communities. It included a commitment to establish a SEIF from April 2007 to:
Most recently the High Quality Care For All: NHS Next Stage Review Final Report and the Primary and Community Care Strategy set out a vision for this change, stating the need to empower staff and give patients more choice.
The NHS Next Stage Review includes a number of recommendations that present huge opportunities for new and existing social enterprises. Significant recommendations include:
Department of Health (United Kingdom)
The Department of Health is a department of the United Kingdom government with responsibility for government policy for health and social care matters and for the National Health Service in England along with a few elements of the same matters which are not otherwise devolved to the Scottish,...
fund which provides investment to assist social enterprises delivering health and social care services. Since June 2009, the fund has been managed on behalf of the Department for Health by a consortium consisting of Futurebuilders England
Futurebuilders England
Futurebuilders England is the largest social investor in the UK. Its registered office is 6 St Andrew Street, London EC4A 3EA, with a second office in Newcastle...
and Partnerships UK
Partnerships UK
Parnerships UK was an organisation responsible for furthering public-private partnerships in the United Kingdom.-Origins:In July 1997 a private finance initiative taskforce was established within the Treasury to provide central co-ordination for the roll-out of PFI...
.
The Strategic Context
The Government's vision for reform in health and social care services includes developing a provider market that is increasingly plural and diverse. This sets the context for new kinds of organisations to emerge, including social enterprises, providing more choice for patients and better quality, more responsive services.The White Paper, 'Our Health, Our Care, Our Say' (January 2006) identified social enterprises as key means of delivering high quality health and social care services tailored to the needs of communities. It included a commitment to establish a SEIF from April 2007 to:
- provide advice to social entrepreneurs who want to develop new models to deliver health and social care services;
- provide increased choice and more integrated services;
- ensure services become more personalised to the needs of the individual;
- address the problems of start up;
- address current barriers to entry around access to financeAccess to financeAccess to finance refers to the possibility that individuals or enterprises can access financial services, including credit, deposit, payment, insurance, and other risk management services...
; and - address risks and skills to develop viable business models.
Most recently the High Quality Care For All: NHS Next Stage Review Final Report and the Primary and Community Care Strategy set out a vision for this change, stating the need to empower staff and give patients more choice.
The NHS Next Stage Review includes a number of recommendations that present huge opportunities for new and existing social enterprises. Significant recommendations include:
- the ability to create new social enterprises to deliver primary and community services;
- giving NHS staff the 'right to request' from their PCT to enable them to set up a social enterprise; and
- to allow NHS staff to explore setting up a social enterprise if they believe that this could provide them with independence, flexibility and responsiveness to innovate and improve services and outcomes for patients.