In an era where businesses are increasingly held accountable to contribute to societal progress, opportunity creation is a powerful strategy for driving inclusive growth and Social Value. Our new jobs and training feature is here, and it’s making opportunities more accessible for local communities and businesses alike.
Businesses today are expected to do more than just make a profit. They need to operate in a way that benefits society as a whole.
The UK is one of the world’s most regionally unequal advanced economies. Wealth and opportunity are disproportionately concentrated in specific areas, posing a significant challenge to the nation’s economic potential and social cohesion.
For purpose-driven businesses committed to Social Value and community empowerment, tackling these regional imbalances presents a compelling opportunity to align corporate objectives with societal needs. By strategically investing in underserved regions and fostering local talent, companies can fulfil their ethical obligations and gain a competitive advantage through access to untapped talent pools, enhanced brand reputation, and stronger community relationships.
Regional Inequality
A study by the Institute for Public Policy Research (IPPR) found that average personal wealth in the North East is around one-third of the average level of wealth in the South East. Drastic imbalances in wealth, power and opportunity attest to the fact that our economy and democracy are not yet designed to help all places thrive.
Beyond statistics, these gaps and inequalities are taking a real toll, resulting in shorter, sicker, less fulfilling lives.
We need to work towards a future where all regions stand equally and offer opportunities for all to thrive within a healthy, prosperous, and equal country.
The IPPR’s 2024 State of the North report stresses the creation of good-quality jobs as imperative for restoring balance. The report says: “Rebalancing opportunity means creating not only jobs, but good quality, fulfilling jobs across the country.”
Businesses have an opportunity to be part of the solution. Through a commitment to Social Value delivery, companies can drive opportunity creation and empowerment for local communities in marginalised regions.
Sounds good … but what does this look like on a practical level?
Five principles for businesses to drive multi-stakeholder partnerships built on trust, cooperation and a shared goal of inclusive growth
- Create direct pathways to employment. Partner with the local community to provide work experience, apprenticeships and mentoring schemes for students, especially those from disadvantaged backgrounds.
- Collaborate with community organisations, charities and social enterprises to offer skills training, adult education and employment support services tailored to the needs of the local area—co-develop programs to maximise impact.
- Work with local government agencies to design policies and initiatives that drive inclusive economic growth, such as small business incubators in underserved neighbourhoods or infrastructure development to attract investment.
- Sponsor community projects and events that support entrepreneurship, creativity, and cultural development. This stimulates innovation and job creation.
- Encourage employee volunteer programs where workers share their expertise with vulnerable groups, helping build skills and confidence.
Creating work and training opportunities in less advantaged regions is not just an act of altruism; it is a strategic investment in the future. By tapping into local talent pools and providing skills training, we can unlock untapped potential and empower individuals to become active participants in the economy. This, in turn, stimulates local economies, generates tax revenue, and reduces dependency on welfare systems.
Rebalancing Power, Wealth and Opportunity
Investing in the local workforce contributes to a more cohesive, prosperous nation.
At its core, addressing regional inequalities through opportunity creation is about rebalancing power and wealth across the UK. By decentralising economic activity and spreading prosperity to underserved regions, businesses can help break the cycles of deprivation. This not only enhances social mobility but also strengthens the overall resilience of the economy by reducing its reliance on a few dominant regions.
One way to achieve this is to place Social Value at the heart of corporate strategy.
At Match My Project, we are determined to help businesses create employment and training opportunities that are responsible, empowering, and prosperous for themselves and the community. That is why we’ve developed our new Pathways to Work feature that allows businesses to find top talent while making a real difference for local jobseekers and organisations.
But that’s not all.
We have loads of exciting new features launching on our platform in the upcoming months. Watch this exclusive new conversation with our Product Lead, Ruth, to find out about what you can expect, and to learn more about what motivates the people behind Match My Project.
