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What is Social Value?

A lot is written about Social Value and Social Benefit and what it means in practice. Bright Bid believes social value is the inherent benefit to society of services that help to address inequities. We believe that this value is generated when organisations develop goods, services or ideas that help people in our society to prosper and thrive, particularly those that are disadvantaged in anyway. 

Most people may automatically associate social value with charities. However, the truth is that many organisations across the public, private and voluntary sectors produce social value. For example, children's nurseries are often profit making. However, the fact is that without these services many people would be unable to work, which has a knock on effect to families falling into poverty which is a major social problem in the UK. As such, these vital services provide social value just like the software company that develops apps for dementia suffers or care providers who care for vulnerable people so they can stay in their homes. 

At Bright Bid we firmly believe that social value organisations are the most effective mechanism of affecting social change. Our mission is to help organisations that deliver social value to grow so that they can help more people and the result is a fairer more equal society for all.  

For more about social value and social benefit watch Michael Green's Ted Talk on Social Progress.