Money invested in a social enterprise should be used efficiently in delivering its social mission. Also, where public funding is used, efficient delivery of outcomes or savings in public spending must be demonstrated. A consistent way of measuring social impact is therefore needed. In October 2012, a Social Impact Measurement expert sub-group was set up by the GECES (“Groupe d’Experts de la Commission sur l’Entrepreneuriat Social”) in order to advise on a methodology which could be applied across the European social entrepreneurship sector. This helps social fund managers decide whether they will invest in a particular enterprise and will help investors and grant givers see if the enterprises they have backed have achieved their stated social objectives, but is also of wider application, both internally and externally. This publication sets out the proposed approaches to measurement used for assessment and follow-up.
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