Third Sector Opportunities report
Author
NESTA
Published
September 2008
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Third Sector Opportunities report summary
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Description
The third sector includes charities, voluntary and community groups, social enterprises, cooperatives and mutual bodies. Their shared characteristic is a commitment to social value rather than shareholder profits.
The third sector is a fast-growing part of the UK economy. Charities and social enterprises combined represent an annual turnover of around £75 billion, excluding the contribution of over 11 million unpaid volunteers.
Third sector organisations reflect the working habits of a changing economy – they rely on their flexibility, expertise and ability to balance the demands of multiple stakeholders.
By engaging with the third sector, young people can learn how to operate among the competing pressures of making money, pursuing a mission and creating impact. They can learn how it is possible to do good and still earn a living, and that success can be measured in terms of impact, as well as profit.
They can also see that the desire to achieve and succeed exists in not-for-profit organisations as much as it does in any hedge fund or recording studio.