Introduction
Welcome to the highlights of the social accounts for Shared Interest, covering the year ended 30 September 2007. We hope that you will find this introduction informative and encouraging and that you will be tempted to dip into the full social report (compiled and audited according to the Social Audit Network methodology) available here. We are heartened that our earlier reports have received external recognition from a range of sources and have won awards.
Since it is difficult to measure directly the impact of our work, we are continually seeking to better explore and understand the impact we believe we are making. We assess our performance against a set of "Objectives" which are based on our Vision, Mission and Values. We are convinced that the opportunities for Shared Interest and its members to make a social impact in the developing world have never been greater. And our appetite to deliver that social impact has never been stronger. We are indebted to our members and donors for their support and to our staff for their skill and commitment in delivering this impact.
We welcome feedback from Shared Interest members, customers and from observers. You can comment directly by email to socialaccounts@shared-interest.com.
Scope
Our social accounts embrace the activities of the Shared Interest group
- Shared Interest Society is a leading fair trade finance organisation. For our borrower customers, both producer groups and buyers all over the world, we provide access to finance to develop fair trade. For the Society's members it is a chance to give some of the poorest communities in the world the financial backing they need to trade their way out of poverty.
- Shared Interest Foundation, a subsidiary charity, supports disadvantaged producer groups in using fair trade as a sustainable solution to poverty. The provision of business and financial management training for producer groups complements our lending activities.
Highlights of the year
The year 2006/7 has seen us carry out a strategic review, setting our direction for the next five years. We have undergone a rebranding for the first time since our founding in 1990. There have been further developments in our work with partners in the fair trade and social lending movement. We have embedded our first programmes for overseas representation in East Africa and Central America and have begun work on developing a presence in South America. Through the work of the Newcastle team and our regionally based staff, the last year has seen continued strong growth in lending, including our direct lending to overseas producer groups. At the year end we had 102 customers (63 producer groups and 39 buyers), across a total of 29 countries. Our 8,447 members together had invested almost £22 million with us. Our Ambassador Scheme has seen members taking part in a wide variety of activities to promote our work. The Foundation has built on its pilot training programme, running courses in East and South Africa and developing a strong partnership with the African fair trade movement.
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