In Episode Three we consider the role of social enterprise in the business environment as we profile Imagematch (imagematch.co.uk) who offer vocational training and support to the unemployed and help 'match' their client's profiles to those of potential employers. The company was named as Start Up's Top Social Enterprise for 2011, and through them we find out the challenges faced by businesses with a social aim.
In this episode we explore the challenges faced by the social enterprise sector as a whole, asking whether banks understand their business model and how they can compete for large contracts. James is joined by Penny Newman, ex-CEO of Jamie Oliver's Fifteen Foundation to talk social enterprise models and by Paul Saunders, ex-Head of Specialist Operations at Lloyds TSB to debate the financial issues.
Mark is Director of Imagematch Social Enterprise CIC. Originally from Liverpool and brought up in care/foster homes, Mark studied Electrical and Electronic Engineering before moving into sales, working for Sony UK as the Account Director for Sony's largest business account, PC World (DSGi Business) and other prestigious accounts such as Specialist Computer Centres (SCC), Computacenter and Dabs (now part of BT), as well as many SME accounts across the UK.
Mark is also involved with a specialist Disability Social Enterprise - Wavelength, and sits on the panel of a fostering agency.
Imagematch - Vital Statistics
Imagematch Social Enterprise CIC provides vocational training alongside personalised guidance to the long-term unemployed, while matching the individual's interests to employer needs, raising the chances of the individual staying in the job. So far 80% of their candidates have remained in work, education or training after their involvement.
Company Name: Imagematch
Turnover: £1.1M (projected with 2011)
James' Checklist For Businesses £500k- £2.5M Turnover
- How effective is the business' interview process? Can it be improved?
- Does the company have an effective customer relationship management system in place in order to prove their growth/contracts to a bank looking to lend?
- Is the strategy for growth achievable, and does the company have the expertise to access new markets? If not, should they hire someone with this expertise?
- How can the entrepreneur identify the right staff to hire? Are they scared of delegating?
- Is the business plan concise and effective?