Research has shown that social enterprise will play a key role in providing much needed growth in the months and years ahead, and so arc has been launched to create a social legacy post Olympics which is financially sustainable.

Olympic Host Boroughs, including Hackney and Newham, are among the most deprived in the country, and their high levels of unemployment make them particularly good areas for arc to focus upon.

Arc combines the expertise and resources of BP and Deloitte along with Business in the Community, who have 30 years of experience campaigning to make business more responsible socially.

BP Europe region head Peter Mather said: "BP is delighted to be a founding partner of arc.

"We believe in supporting the development of communities in which we operate and, as an official partner of London 2012, we are working hard to deliver a sustainable legacy from the Games.

"Through arc we will be helping to support the creation of 1,000 new jobs in the Olympic boroughs, including practical support from BP employees to the social enterprises involved."

Deloitte's chief executive, David Sproul, said: "As a leading business we believe it is our responsibility to ensure Deloitte contributes to a sustainable and prosperous society.

"I would say that most innovation that is good for society is also good for business.

"The pioneering spirit of entrepreneurs and innovators has a direct ability to help build a better society, enhancing the quality of human lives."

The new initiative was helped launched by the 2000 Olympic triple jump champion Jonathan Edwards (pictured).


Social Enterprise UK are the lead strategic partner of the project, and their chief executive Peter Holbrook believes, "arc will help raise awareness of social enterprise across the capital.

"It'll be terrific to see social enterprises start-up and grow in some of London's most deprived Boroughs.

"Not only will jobs be provided at a time when youth unemployment is at an all time high, but whole communities will benefit because social enterprises are a force for good - they exist to tackle social issues and environmental problems."

The first two social enterprises will be Bikeworks, which seeks to offer a range of public cycle services and whose co-founder David Miller is pictured with Edwards, whilst also reducing landfill, and Blue Sky Development and Regeneration, which provides paid work for ex prisoners, and who have a success rate in reducing re-offending by 75 per cent.

Business in the Community chief executive Stephen Howard added: "Small businesses are the lifeblood of our economy and the backbone of strong prosperous communities.

"It is crucially important that responsible businesses collaborate to stimulate and support enterprise growth, particularly in area of greatest need such as the Olympic host boroughs.

"Arc will create a lasting social legacy in historically deprived communities and we stand with our partner companies to ensure that it delivers what these communities need."

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