CEO's Update

I think it’s fair to say it has been a bit of a bumpy ride for us here at 3SC over the past months as we try to future proof the organisation from the ups and downs of being a prime and subcontractor in an austerity driven environment whilst also waiting for new tender opportunities to present themselves. Whilst we will continue to develop and manage third sector consortia to bid for and deliver public services as our core operating model, it is clear that we also need to, and we have been, exploring other revenue diversification streams including potential mergers and collaborations with other organisations to steady the ship and ensure we remain both profitable and financially sustainable.

We will continue to keep delivering our current portfolio of contracts to a high standard whilst we also focus on growth moving forward. We have been successful in getting accepted onto the Social Stock Exchange earlier this year and that is one of the places we will be looking for new funding and investment once we have finished drafting our new Business Plan outlining the future of 3SC to take to potential investors.

Our current contracts, such as the Work Programme, continue to wind down further but we have numerous new business development opportunities in our pipeline including relationships with Primes to whom we are a subcontractor, for example, on the Work and Health Programme. We are also bidding for contracts as a Prime ourselves and developing exciting products in new areas rather than waiting for public service tenders to come to us.

Cash flow will continue to be tight even after the considerable savings we have taken out of the business over the last 6 months. Unfortunately some of these savings had to be in the form of redundancies, like many of our partners at the moment, but savings have also been made by innovatively reducing costs in other areas. 

We have recently reviewed, updated and renamed our core contract performance management operating model and this is documented in our ‘3SC Contract Management Manual’.  All staff apply this way of working consistently and proficiently and regular audits on its use ensure we are doing just that.

Our internal and external newsletters and other marketing and communications work is in full flow alongside a root and branch review and update of our website and brand which we will release later in the year.

In summary there is a lot happening here at 3SC at the moment and although the ride may continue to be bumpy for a while, I’m hoping it won’t be too turbulent and there are exciting times ahead for sure!

Joanne Cholerton

3SC Interim CEO