Press watch: Social enterprises 'growing strongly'

Turnover at 100 of the largest such firms grew an average 79% in the year to March, said the study by business information service Social Enterprise.

The report, conducted with Royal Bank of Scotland, said firms in south-east England saw the biggest growth, up 56%.

The East Midlands was the worst performing, with growth of only 15%.

Examples of social enterprises include the Big Issue, Jamie Oliver's restaurant Fifteen, and the fair-trade chocolate company Divine Chocolate.

Firms in the environment, recycling and renewables industry reported the highest growth rates.

Social Enterprise and Royal Bank of Scotland compiled the data from information provided by 350 social businesses across the UK.

It was used to form the first publication of an index tracking the growth of the 100 top social businesses in the UK, the RBS SE100.

"The RBS SE100 is a hugely important tool for proving the success and potential of social enterprise," said Nick Hurd, Minister for Civil Society.

"Already it shows phenomenal growth which will boost confidence in the sector and open doors to private finance."