Impact UK: The size and story of our impact economy
NPC’s mission is to strengthen and grow the impact economy. Follow our journey on LinkedIn.
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A defining moment for the UK’s impact economy
Jonathan Simmons, Chief Executive, NPC
Impact UK tells the inspiring story of the UK’s impact economy, a national, cross sector community bound together by the desire to create positive impact.
We welcome the growing use of the term impact economy. It captures an ecosystem of organisations, individuals, and capital that prioritise public benefit over private gain. While some find terminology discussions tedious or distracting, they matter. Seeing the impact economy as a single, connected whole helps us recognise its dynamism and the significant contribution it makes to the UK. It represents a shift in mindset from a fragmented set of sectors, often operating in isolation, to a coherent system, intentionally seeking to solve the challenges we face, together.
We have sized the UK’s impact economy at £428Bn, representing 15% of UK GDP.
In the following pages, we explain how we calculated this value, why we used GVA, who is included in it, and who at this stage is not. To illustrate the breadth of the impact economy, we also highlight an impact-led business and the stories of ten remarkable philanthropists whose risk‑tolerant, ambitious capital, combined with close work on the ground, helps drive new and diverse initiatives. Showcasing these stories brings to life the organisations and people in our community and reflects NPC’s mission to help grow and strengthen the impact economy.
The term ‘impact economy’ represents a shift in mindset: from a disparate set of sectors, often at odds with one another, to a coherent system bound by shared aspirations. It is a simple but powerful idea built around intentionality: the intention to have a positive impact and to help solve the challenges we face, together.”
Jonathan Simmons
Chief Executive, NPC
Impact UK is not an analysis of impact, nor does it suggest equivalence between a charity and a business. This is important because impact matters. As a community we must commit to having a genuine impact, being independently analysed, and continuously striving to improve. But being part of the impact economy is a starting point, not the finish line, and we must be careful of excluding organisations from ‘our club’ before they have even begun.
I believe the impact economy is the most exciting ecosystem to work within. There is real momentum in this space catalysed by government, funders, practitioners, organisations like NPC, and clear shifts in policy, funding, and practice. One of these is an upward trend in high-net-worth giving; you can find more detail on this in our recent report with Barclays, How philanthropists are making a difference. Another is a threefold increase in impact-led businesses, detailed on page 10 of this report, building on work undertaken by Deloitte 10 years ago. My hope is that in line with these trends, Impact UK will inspire others to consider what they do to be part of the impact economy and increase their efforts.
We want to thank the many people who have provided their time, talents, and expertise to make this report possible. We are deeply grateful for our funders: Mishcon de Reya, Esmée Fairbairn Foundation, Lloyds Bank Foundation, and Better Society Capital who recognised the need to explore this critical opportunity. I also want to acknowledge the team at NPC who have contributed across the report, Forster Communications who have supported us in the dissemination of it, as well as Deloitte and Pro Bono Economics, who provided incredible expertise. A full list of our authors, contributors, and collaborators is on page 45.
I am not naïve. A report alone does not change the world. But it can generate conversation, inspire an individual, and add to the debate. Thankfully, NPC’s report is not an island, it sits alongside other incredible pieces of content including the government’s announcement of the Office for the Impact Economy, the final report of the Social Impact Investment Advisory Group (SIIAG), and the essay collection NPC wrote with the Impact Economy Collective. There have also been invaluable reports relating to parts of the impact economy from The Law Family Commission, Onward, PBE, CAF, NCVO, the Macquarie Group Foundation, and others. I encourage you to explore this content and follow NPC on LinkedIn where we will be sharing more.
Please read, enjoy, share your thoughts, but most importantly, in the words of our philanthropist Richard Ross (page 24), “do something”.
This report highlights the vital role of purpose-driven businesses, charities, philanthropy and investors in our society. That’s why last year we launched the Office for the Impact Economy to help these organisations work more closely with the government to unlock billions in investments in our communities across the UK and drive national renewal.
Chief Secretary to the Prime Minister, Darren Jones
Download the full report
Size: 9.92 MB
By: Jonathan Simmons, Emma Pearson, Sabrina Bengtzen, Erwin Hieltjes, Alex Hayes
DownloadIntroducing the impact economy
Why we need the impact economy
Kieron Boyle, Professor at the LSE Marshall Institute, and Chair of the Impact Investing Institute
Philanthropy: a guide to start your giving
Alex Hayes, NPC Director of Philanthropy
Telling the story of the impact economy
As you read the following stories of 10 UK philanthropists, we invite you to consider how through your resources, time, and talent, you could help strengthen and accelerate the impact economy.
Unlocking hope
Lady Edwina Grosvenor has spent more than thirty years working to improve the criminal justice system. This lifetime’s work has culminated in her latest project, Hope Street, which is helping to change the relationship between women and prisons in the UK.
Success is a science
Richard Ross and his family charity, Rosetrees, have spent 37 years financially backing the nation’s most brilliant minds in pursuit of medical breakthroughs
The power of partnerships
The key to making meaningful and systemic change is bringing government, business and charities together, believes Gary Lubner - founder of charitable foundation This Day.
Empowering earth's allies
Inspired by the plight of the orangutan 16 years ago, Jessica and Adam Sweidan’s foundation, Synchronicity Earth, currently supports more than 140 local conservation partners worldwide.
Driving change
Jason Arthur is the man behind the wheel of F1 superstar Lewis Hamilton’s foundation Mission 44, helping young people succeed regardless of their background.
Transforming futures
Through the Black Heart Foundation, Ric Lewis is giving outstanding young people of all backgrounds the opportunity to pursue their educational ambitions.
Raising the bar
Born into a whisky business rooted in community, Grant Gordon and his Ethos Foundation are committed to helping disadvantaged young children prepare for school in a bid to break cycles of family poverty.
Nurturing nature
From unrestricted grants to philanthropic loans, angel investing, and ethical investments, Lauren Gupta and her family are exploring the different ways they can support environmental organisations.
Family man
When life dealt two of his family an unfair hand, David Forbes-Nixon turned these personal challenges into purpose.
Recipe for success
From Cook, to B Corp UK, to his impact investment portfolio Snowball, James Perry has spent 30 years proving that businesses can balance profit with people and planet.
This project would not be possible without the support of our generous partners
The impact economy: Delivering together for people, planet and place—a collection of essays curated by NPC in collaboration with the Impact Economy Collective
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