According to the UK government’s Social Value in Government Procurement Consultation, social value refers to the wider financial and non-financial impacts of projects and programmes including the wellbeing of individuals, communities, social capital and the environment. The UK Public Services (Social Value) Act 2012 has placed social value as a key influence over policy and procurement decision makers. Challenging them to consider the social, economic and environmental benefits on the local economies they operate within.
At Bloom we are making it easier for public sector buyers to deliver on their social value goals through our marketplace.
Social Value runs through the veins of our business, including our systems, policies and processes. This enables us to measure, manage and maximise the social value we offer our customers.
To date, 70% of projects in our marketplace have been delivered by SMEs and this has enabled the public sector to drive significant growth back into the local economies in which they operate.
In 2019 we facilitated the award of 1902 projects to SME suppliers valued at more than £251 million.
This has enabled public sector buyers to set their social value goals and agenda for a project, whilst challenging tendering suppliers to demonstrate how they will add social value and support the delivery of the public sector buyer’s objectives.
The Bloom marketplace has a large catalogue of pre accredited third sector suppliers seeking new business opportunities with the public sector. Pro-vide 2.0 also has the functionality to specifically search for third sector suppliers. Bringing the third sector into the marketplace for the delivery of professional services.
View Social Value International’s guide to the Seven Principles of Social Value:
View Social Enterprise UK’s guide to the Public Services (Social Value) Act 2012:
View a summary of the UK Government’s Social value in government procurement:
As the importance of social value grows so does the need to effectively measure it. Currently Bloom utilise the National TOMs model (Themes, outcomes and Measures). Developed by Social Value Portal, the National TOMs model was launched in 2017 and has since been endorsed by the Local Government Association.
To find out more please visit: https://socialvalueportal.com/what-is-social-value/
View Social Value’s International guide to social return on investment: