Ambition North Wales is calling on businesses within its region to respond to a survey focusing on social value, which will help it better understand suppliers’ awareness, perspectives and practices.
Social value is an increasingly important topic for all sectors and stakeholders. It refers to the societal, environmental and economic impact organisations have on local communities and wider society.
The concept encourages incorporating a positive contribution to people’s well-being alongside ethical day-to-day business activities, with a focused effort on improving local issues and upholding pillars from the Well-being of Future Generations (Wales) Act 2015 in their goals and strategies.
Responses to the survey will enable Ambition North Wales to measure understanding and perspectives, see what the implementation barriers are and identify best practices. The results will steer a cohesive support programme for suppliers and drive the promotion of social value in the region under an exciting project lead by the organisation, funded by the UK Shared Prosperity Fund.
Findings will also inform Ambition North Wales’ own approach to amplifying social value within its renewed procurement processes. This as they continue to invest in the Growth Deal’s project portfolio, which aims to generate a total investment of over £1 billion for North Wales with over 4,000 new jobs and an increase in GVA by £2.4 billion by 2036.
The confidential questionnaire is open until 5pm on Friday 6 September.
Daniel Lewis, Regional Impact and Social Value Officer, Ambition North Wales, said: “Given the significant environmental and socioeconomic challenges we’re encountering, social value has become more important than ever.
“There’s also a growing awareness that purpose-driven organisations delivering positive societal and environmental impact often have a sustainable competitive advantage; internal and external stakeholders are now actively striving for social value in their decision-making and consumption.
“It is a powerful force for change and we are excited by the opportunity to support the region’s organisations to realise benefits, measure their impact and maximise their offering.
“I’d encourage all suppliers to respond to the survey. There are no right or wrong answers, we want to hear from a breadth of businesses, from those who may just be starting to look at the benefits that delivering on social value can bring, to those who are seeing real rewards from their commitments.”
Suppliers can also contact Daniel Lewis for further information or to discuss ways of collaborating.
