Social enterprise doubles turnover to smash £1m

Social enterprise doubles turnover to smash £1m

The company’s upcoming annual impact report will also forecast growth to hit the £5m mark in the next three years, propelling it into the top 3.6% of social enterprises for turnover in Scotland.

The firm has been a real success story since its formation in 2012 and has recently signed a contract with Stirling Council, the 10th local authority to enter into a current partnership with GTS, which is headquartered in the Capital’s Buccleuch St.

The new figures underline the non-grant-funded business’ position as one of the most successful of the 5600 social enterprises operating in Scotland, with meaningful social impact being delivered across some of the most deprived areas of the country.

GTS, which operates in both the private and public sectors, has been shortlisted for the Social Impact Award at the Social Enterprise Awards Scotland 2018, and its influence could soon be felt further afield with CEO Chris Thewlis currently tendering for contracts south of the Border.

It has also recently won contracts to deliver services for the next seven years, providing sought-after security for all involved.

Welcoming the figures, Mr Thewlis said: “We currently operate within the top 8.2% of social enterprises for turnover and our expected growth should see us enter the top 3.6% in Scotland within the next three years.

“This top 3.6% is mainly made up of housing associations and credit unions which have large asset bases and high regular income.

“We also operate within the top 14% of social enterprises for turnover within the UK, which is way above the £150,000 median for a social enterprise aged 6-10 years.”

GTS was brought in by Historic Environment Scotland to provide an additional layer of security at Edinburgh Castle and is also the security supplier of choice for the University of Glasgow’s regeneration project.

Its training division runs one of the most successful employability programmes in the UK with a 97% retention rate and a 93% outcome rate for sustained employment.

GTS Solutions CIC delivers the Securing Futures Employability programme from the profits it generates from security services to its customers and the programme to date has helped over 200 individuals into sustained full-time employment.

A committed living wage employer, the organisation has delivered a further 70 vocational qualifications to those who would not otherwise be able to access training this year.

Mr Thewlis added: “GTS generates over 95% of its income from trading activity reinvesting a minimum of 65% of all net profit into its social aims and objectives. Many other social enterprises will be subsidised or grant-funded to much higher ratios which makes our performance all the more pleasing.”

The news of GTS Solution’s success comes as Edinburgh prepares to host the Social Enterprise World Forum, which takes place 12-14 September at the EICC.

Published: 10 September 2018

Article by Chris Middleton
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