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There was significant growth in company formation in the UKs social firm sector last year, new research indicates.
A social firm is a business enterprise intended to create employment for those seriously disadvantaged in the mainstream labour market.
The study, by Social Firms UK, revealed that the rate of company formation in the sector increased by some 15 per cent in 2006, in comparison to 2005.
The greater recent involvement of SMEs and entrepreneurs in social enterprise is thought to be a significant factor in this trend.
Social Firms UK, which supports progress within the social enterprise sector, found that there are now 137 of these businesses in Britain.
The research also found that within the sector, 52 per cent of jobs are held by disabled and disadvantaged people.
As reported by Startups.co.uk, Kathy Baker, Social Firms UK quality support manager, said: "The 2006 sector mapping shows that the UK has a solid base of social firms and a sector which is showing real growth.
"Ive visited many social firms in person over the last couple of years and can see a clear improvement overall in the quality of the businesses."
John Hutton, secretary of state for the Department of Work and Pensions, recently announced a new initiative, Employ Ability, which highlights the benefits of employing disabled people.
The current employment rate of disabled people is 50 per cent, compared to 74 per cent for non-disabled people.
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