164 Trafalgar Road
Greenwich
London SE10 9TZ
Tel:
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Social Value

 

     

     

    Social Value Report to 31 August 2015

     

     

    Did you know?

    Greenwich Communication Centre is a Community Interest Company (limited by Guarantee).

    That means that our business has been set up in a special way that ensures we use our profits and assets for the benefit of our community, rather than being driven by the need to maximise profit for shareholders. Two features that are special to our type of business are:

    1) We operate under an Asset Lock which ensures that the assets of our CIC (including any profits or other surpluses generated by our activities) are used for the benefit of our community.

    2) We have a legal obligation to prepare an annual CIC Report which is filed with the CIC Regulator each year. The purpose of the CIC Report is to show that our business continues to satisfy the community interest test, and that we are engaging appropriately with our stakeholders in carrying out activities, which benefit the community.

     

    PRINCIPAL ACTIVITIES


    The principal activity of the company during the year was providing a value-led, sustainable and not-forprofit communication hub in the heart of Greenwich.


    Greenwich Communication Centre provides a wide range of communication services to support the needs of the Greenwich community via an accessible high street location. Primarily, our services support our community to keep connected and communicating both face-to-face and online. Some of our ICT services are revenue generating and this revenue helps to fund our Pro Bono community services which are focused on:

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    Reducing digital exclusion through outreach technology support clinics.

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    Supporting disadvantaged people through digital skills, training and employment.

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    Improving economic development by supporting start-ups and early stage entrepreneurs to grow businesses, invest and employ.

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    Creating a greener environment

     

    The revenue generating side of our business aims to provide a wide range of useful ICT related services, such as computer, tablet and smartphone repairs and many community groups enjoy discounted rates on repairs.


    We also provide low-cost, public access to computers and the internet, as well as a range of office support services such as photocopying and printing together with a comfortable wi-fi lounge and café.


    All this valuable work funds our social investment projects which are focused on providing numerous pro bono services to the Greenwich community. In this accounting period we have delivered a total social value of £162,656. £77,439 of this value is paid for by the local community, the remainder being provided by GCC in-kind. Our evaluative SROI is calculated at 2.1:1 based on an analysis of outcomes that have taken place. In other words, for every £1 of input £2.10 of social value is created.


    Financial Statement of the In-kind Investments provided PRO BONO by Greenwich Communication Centre to residents of the Royal Borough of Greenwich

     

    Providing support to long-term un-employed residents. We assist by helping residents to write well constructed CVs and access relevant websites for making job applications via our public access computers. 2hrs per week @ £20 x 51 weeks.
    In-kind Investment £2,040

     

    Providing basic computing skills training to residents who need support in order to use the public access computers at our centre. 8hrs per day @ £20/hr x 6 days x 51 weeks.
    In-kind Investment £48,960

     

    Provision of recycling repositories to facilitate the disposal of expired batteries, printer toner cartridges and obsolete computers. Management costs 2hrs per month @ £50/hr.
    In-kind Investment £1,200

     

    Environmental cost that is being saved as a result of GCC managing recycling points and reducing landfill. £82 per tonne x 1 tonne per annum.
    In-kind Investment £82

     

    Event Space provision for meetings, training sessions and events hosted by various local notfor-profit, community interest groups x 1 per week x 51 @ £200 per event.
    In-kind Investment £10,200

     

     We run a very successful enterprise club (The Greenwich Enterprise Club http://www.greenwichcc.com/greenwich_enterprise_club.html which we promote as a support group for early-stage entrepreneurs of all ages, backgrounds and skills. The club supports its members to reduce risk in getting their new ventures off the ground. Our meetings provide the forum for expertise and experience to be shared and beyond that, it is a club where friendships, partnerships and collaborations are nurtured between like-minded entrepreneurial people, academics and industry leaders. We organise meetings every 2 weeks and currently have more than 450 registered members. Management Costs: 7hrs per week x 51 @ £50/hr plus stationery, printing, refreshments and marketing costs per annum.

    In-kind Investment £18,350

     

    In addition our direct investment provision of the Greenwich Enterprise Club, it is important to highlight that the Club now supports more than 450 local businesses, each of which aims to develop to create jobs and invest in the local economy. In the last 12 months our active members evaluated the value of their membership as follows:

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    84% of respondents scored our workshops as ‘useful’ – ‘very useful’

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    43% of respondents cited their primary gain was ‘knowledge’

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    20% of respondents cited their primary gain was ‘collaboration’

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    16% of respondents cited their primary gain was ‘business growth’

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    15% of respondents cited their primary gain was ‘business leads’

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    5% of respondents cited their primary gain from attending the club was ‘sales’

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    3% of respondents cited their primary gain from attending the club was ‘cost savings’

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    16% detailed a direct financial gain from attending the club.

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    85% of attendees plan to attend the club again.

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    85% of attendees will recommend the club to others

     

    Value of Discounts provided in this accounting period to residents for ICT services.
    In-kind Investment £335

     

    Providing network support for our public access computers. 1hr per week @ £50 x 51 weeks.

    In-kind Investment £2,550

     

    Providing outreach tech help clinics across the borough to help individuals to better use their computing devices and/or resolve basic technical issues. 6 x clinics @ £250.

    In-kind Investment £1,500

     

    In 2015/16 we are evolving our impact measuring tools to capture the wider social return on our investment. It can be modestly assumed that our projected SROI is well in excess of £100,000 per annum.