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Social Enterprise UK, states: “Social value is a way of thinking about how scarce resources are allocated and used.  It involves looking beyond the price of each individual contract and looking at what the collective benefit to a community is when a public body chooses to award a contract.  Social value asks the question: “If £1 is spent on the delivery of services, can that same £1 be used to also produce a wider benefit to the community?”

“Social Value is about maximising the impact of public expenditure. It looks at what is created, and sometimes what is forsaken, through a commissioning process. It is therefore also about what we value in the public realm. Social value considers more than just the financial transaction.”

It includes:

  • Happiness
  • Wellbeing
  • Health
  • Inclusion
  • Empowerment