IDBM Impact Award launched to recognise and promote Inclusive and Democratic Business Models in Scotland
Posted: 03 September 2024, in News
In a significant move to champion impact and inclusive economic practices, a new award has been launched by Social Enterprise Scotland today. The IDBM Impact Award aims to celebrate businesses that embody Inclusive and Democratic Business Models (IDBMs), recognising those that prioritise social value, sustainability, fair work, and community benefits.
The announcement of the IDBM Impact Award coincides with the release of a new report that highlights the importance of IDBMs in building a fairer, greener economy that works for the people of Scotland. The report, published by an independent review body made up of economists, businesses and support organisations, outlines strategic recommendations for expanding the number of IDBMs in Scotland. These recommendations are intended to guide the Scottish Government in supporting regional regeneration and the wealth of local communities.
The IDBM Social Impact Award will be presented as part of the Social Enterprise Awards Scotland, to a business that has driven exceptional impact for the communities they serve and/or environmentally over the past year.
Speaking at the IDBM report launch in Edinburgh today, Kim Wallace, Deputy CEO at Social Enterprise Scotland said: “Today, we are pleased to announce that we are implementing one of the key recommendations from this report: to widen the scope of existing business awards to include all forms of Inclusive and Democratic Business Models.
“By integrating IDBMs into these awards, we not only increase visibility but also support the promotion and growth of these vital enterprises. This initiative is a significant step forward in mainstreaming IDBMs into Scotland’s broader business landscape, and we are excited to lead the way in implementing it. With thanks to our partners and sponsors Co-operatives UK and eoa.”
Chris Martin, CEO of Social Enterprise Scotland said: “At Social Enterprise Scotland we recognise the power of IDBMs to transform our economy, distribute wealth, support communities and be purposeful in ways that serve people, place and the environment.
“This new IDBM Impact Award is more than just a recognition of success; it is a celebration of the innovative approach that is shaping the future of business in Scotland. We look forward to learning about your achievements and the ways in which your business is setting a standard for others to follow.”
The winner will be announced at an evening ceremony hosted at the Scottish Parliament by Paul Sweeney MSP for Glasgow (Region) on Thursday 7 November.
More information on how to apply is available at socialenterprise.scot/awards with applications closing at 10am on Monday 7 October.