April Update from the Chair

3SC - John Swinney

April Update from the Chair

In my short time with 3SC I have been taken by a number of things: the commitment of the people that I have met, the positive reputation we enjoy in the marketplace, the quality of what we do and the potential of the opportunities that are facing us.

At the same time we face all sorts of challenges. Key among those are ensuring that the business is on a sound financial footing and then that we maximise our new business prospects. 

So the last few months have all been about stabilising the ship and in parallel building a platform for growth. That platform for growth means a number of things:

1. We need new investment. Our plan is to raise new money probably through the Social Stock Exchange.  In doing so we will look to move to a new corporate structure which allows our staff to own part of the company. This will be achieved through the creation of an employee trust.

2. We are looking to diversify our business offer. This will involve a mix of collaboration, acquisition, partnership and financing the short term development of organisation. None of this will be easy but we already have four different businesses interested in joining us in some form or other.

3. We need to build our pipeline and keep growing our public sector portfolio of contract.

The above forms the basis of our future strategy. We are currently writing all of this in a formal business plan that we can take to potential investors. Our aim is to have all of these issues resolved by the end of 2017. We are transforming the organisation to work more effectively to support our delivery organisations and to ultimately – enable the Third Sector better than ever before.