Kindred releases first impact report

We’ve launched our first impact report, looking at the impact that our first cohort of STOs have had since their investment, and the change that money from Kindred has been able to support. Kindred invested its first £1m in 20 STOs across the city region in spring 2021.

We spoke to our first cohort of STOs in late 2022 and early 2023, when most of them had had their money for around a year. Because of the nature of Kindred’s bespoke investment, not all of them had drawn down their money – but the impact that they’ve had across Liverpool City Region was impressive, nonetheless. 

You can read the full impact report here – and these are its headline figures:

  • Turnover across the 20 STOS has more than doubled – from £1,884,941 to £3.8m
  • Year one investees have generated £20m in social and economic value
  • They have created 77 new jobs created, almost doubling employees
  • As a result of their success, they’ve attracted an additional £10.5m of funding between them – our investees are now looking for an additional £1.88m investment to further grow their impact
  • Investees have brought a stated  307,700 sq ft of formerly unused space back into use
  • 14 investees want more space – for two-thirds of the people we work with, space is a limiting factor in some form or another
  • We create £6 in social value for every £1 invested

Kindred director Jen Van Der Merwe says: “This is our first impact report, and we are blown away by the significant impact and resilience that STOs are demonstrating so far. Turnover increasing by 50%, and creating social and economic value of £20m collectively. Kindred’s first year of operation has shown the impact and value created when we collaborate. Kindred was co-designed by the STO community, and we will continue to be challenged by STOs to provide the right type of money and support to grow their individual and collective impact across the city region.“ 

Steve Rotheram, Mayor of the Liverpool City Region, says: “Socially-trading businesses play a unique and vital role in the local communities they operate in and I’m incredibly proud that our area is a powerhouse of principled, community-focused business. Their positive impact can be felt right across the region, accounting for nearly 10% of all jobs and add a whopping £3bn to our local economy. 

“The very essence of devolution is taking power away from the centre; I didn’t want to wrestle decision making away from Whitehall only to hoard it in my offices. That is what Kindred is all about: working with community businesses to design and develop a programme that would help them deliver on their potential.

“Owned and managed by the sector, it’s already making good on our investment by creating good, local jobs and attracting nearly ten times its funding into the area. It has made a fantastic start and I’m sure will only go from strength to strength, which will only continue to benefit local people and communities.”

Click here to read the impact report in full