Sir Vince Cable has urged more charities to consider a social enterprise model as a way to further their missions, in an interview with Governance & Leadership magazine.
The former Business Secretary and Liberal Democrat parliamentary candidate has recently become the chair of HCT, a community transport charity which runs commercial bus services to subsidise its charitable activity.
He praised HCT’s social enterprise model and said he wants to see it taken up more widely.
“I had overall responsibility for social enterprise in government but it was immensely frustrating because while I thought it was a great model for a company, it wasn’t really happening in the real world,” he said.
“My aspiration is to see HCT, which is a very successful company, replicated elsewhere.”
HCT has expanded its reach in recent years and Cable said he expects this to continue.