Mayor of London, Boris Johnson declared ‘ethical capitalism’ alive and well at the opening of a pioneering social enterprise business support centre in Southwark, led by PwC.

Johnson, alongside PwC Chairman Ian Powell, and PwC Vice Chairman Richard Collier Keywood presented to 150 representatives from London community organisations, charities, and social enterprises at the opening of the Fire Station on Tooley Street.

Based at a refurbished Fire Station on Tooley Street near London Bridge station, the centre, through its public, private and voluntary sector partner organisations, supports new and existing social enterprise business, providing:

• A bar / bistro, private dining and events venue – ‘Brigade’, part of whose revenues are reinvested in nationwide community projects
• Up to 145 apprenticeship and work experience opportunities for people who have been homeless (in the bar / bistro 'Brigade')
• A network of 100 social enterprise mentors from PwC
• A PwC business club for social entrepreneurs
• New headquarter offices for both the School of Social Entrepreneurs and Social Enterprise UK
• Private healthcare facilities, including healthcare services for Brigade’s Apprentices and a further secretarial apprenticeship place.

Speaking at the launch, the Mayor of London, Boris Johnson said:

“Anyone in search of an example of ethical capitalism should look no further than the Fire Station in Tooley Street. By lending vital business know-how during difficult economic times, it is helping to change lives by investing in and improving Londoners’ skills. It is social enterprise at its best.”

PwC’s research of public attitudes to social enterprise showed that while the perception of the sector’s social and community motivation was strong, the perception of their ability to compete with profit focused private enterprise was not.

Revealing consumer support for the potential for social enterprise to develop and deliver at scale across the UK, the majority of people (50%) surveyed nationally believed businesses with a social purpose could be more effective in supporting their local economy than government. This rose to 58% in the North East. Two out of three respondents said, irrespective of their social objectives, businesses have a responsibility to help the communities in which they are based. Almost a third (30%) said they did not believe social enterprises could be as competitive as a purely profit focused business.

PwC Chairman Ian Powell said the spirit and drive of social enterprise needed to be matched with business experience from the private and public sectors:

“Bringing together the knowledge and expertise of the private, public and third sectors will accelerate the success of social enterprises. There is a public perception that businesses with a social motive cannot be commercial and profitable. We need to shift this perception. We believe The Fire Station will help change the way the sector is viewed as well as supporting the individual enterprises located here and we are really proud to be a part of it.”

Michael Wilson, Programme and Policy Manager at the Homes and Communities Agency, one of founding funders of the project, said:

“The Fire Station is providing essential training and job opportunities for some of the most disadvantaged in London. It’s a place where homeless people and former rough sleepers can access support, develop their skills and gain confidence, helping them to move away from the cycle of homelessness for good. Today’s event is a welcome opportunity to see how our funding of £800,000 is making a real difference to people’s lives.”

The Fire Station, developed as part of the firm’s 25 year community programme in Southwark, South London is now the focal point of the firm’s 1650 London volunteers. Its development was led by PwC Vice Chairman Richard Collier Keywood, who said the unique nature of the idea meant no one partner could have done it alone.

“We wanted to create a workable, commercially led partnership model between the public, private and third sectors that could be adopted and scaled anywhere.

“By taking time to identify the right partners, build the partnership with a common objective, we’ve tackled some of the most difficult parts of how you create a full support system for social enterprise from health and wellbeing to reporting and measurement on impact. Others may have been put off by the complexity and the time commitment, but we think it was worth the wait, and believe it is the start of something special for social enterprise development.”

“Social enterprises are often locally led, community driven, and socially motivated. They have the inside track on what is needed to serve and improve a situation. But like any business, if you don’t have a rigorous approach to creating a viable business plan, with the capacity to deliver profit, not just your goods, your motives might not save you and your business. This is where this venture can make a difference."