Five Lamps, a social enterprise working to transform the lives of socially and financially excluded individuals, has been recognised as a leading social enterprise, winning the Resilience Award in the 2015 NatWest SE100 Awards
The NatWest SE100 Index is an online listing of social ventures, ranked and scored according to their growth and social impact. Each year the NatWest SE100 Awards recognise social enterprises on the Index who have demonstrated some of the best business practice within the sector, celebrating the growth, impact, ambition and resilience of social enterprises in the UK.
The Resilience Award recognises a social venture that continually delivers positive social or environmental change and repeatedly achieves impact goals, successfully tackling challenges and overcoming difficulties to deliver their mission.
Five Lamps delivers an integrated range of social, economic and financial inclusion services which seek to transform lives, raise aspiration and remove barriers. These reach over 20,000 people annually.
The market served by the organisation spans the financially excluded; individuals in the welfare to work arena plus those trapped in the ‘low pay, no pay’ cycle; troubled families with complex needs; young people; new and early-life businesses unable to access mainstream finance and helping homeowners, typically those who are elderly, disabled or on a low income, to improve repair and adapt their properties.
Graeme Oram, Chief Executive at Five Lamps said:
“It is a source of significant satisfaction for the organisation that, in the year it celebrates its 30th anniversary, it has achieved a record level of turnover with £4.76million last year. Five Lamps is a story of genuine resilience; social entrepreneurship and continuous reinvention”
“Five Lamps’ resilience has been tested regularly, it nearly ceased trading after two years as its progenitor withdrew support; in 2002 all of its funding was set to end within sixteen months (75% of it within four months); in 2003, the funding envisaged for services in our new youth centre was withdrawn after less than twelve months; in 2005, a delay in commissioning a new programme brought the organisation close to insolvency and in 2012, the ending of three key contracts, all successfully delivered, and exceeding contracted targets, saw 55% of the previous year’s turnover disappear overnight. Resilience has also been tested by increased demand for our services; the need for further capital and public service austerity”
Marcelino Castrillo, Managing Director Business Banking, NatWest, said:
“I want to congratulate all this year’s winners, not just on their success in the awards, but on the profound social impact that they are having on our society. NatWest is proud to have supported the SE100 since the beginning and we are committed to unlocking and nurturing entrepreneurial talent through access to finance, markets and expertise”
Rob Wilson, Minister for Civil Society, said of the NatWest SE100:
“Social enterprises occupy a crucial place in our society. These organisations help tackle social challenges while contributing to economic growth. The SE100 Index is an important benchmark for the sector and I would encourage all social enterprises to sign up so we can build a truly compassionate society”