Social Value UK is part of an Erasmus+ project to create a tool for SMEs to better understand the potential value of apprenticeships and work-based learning.
Working with partners from 7 European nations the tool seeks to calculate the return on investment of such practices, with SVUK supporting the inclusion of social costs and benefits alongside the more traditional financial concerns.
In April the project team met in Liverpool for 3 days of social value and Social Return on Investment training and the second project meeting. Not only did we go through Principles of Social Value and consider the implications for the tool to support SMEs, but we also proved that we do have beautifully sunny days in the UK!
As well as the online tool, the project aims to contribute to the sustainability of work-based learning, produce good-practice guidance, and develop an apprenticeship friendly small and medium sized enterprise (SME) badge. If you are an SME interested in the potential of apprenticeships and work-based learning have a look at the project website – it provides an overview of the project and will continue to be updated as the project develops.
Dr Adam Richards is leading on this project for Social Value UK.