Social Value in Business – Explained

Social value refers to the wider benefits that businesses and organisations create for people, places, and the planet beyond their financial returns. It includes improvements in health and wellbeing, employment, environmental sustainability, local economic development, and inclusion. Social value asks not just what a business delivers, but how it delivers it — and who benefits as a result.

Why is Social Value in Business Important?

Across industries, the expectation that businesses contribute meaningfully to society is growing. In public procurement, the inclusion of social value is now a mandatory criterion in many contracts, shifting the emphasis from lowest cost to highest impact.

For sectors like deep tech and construction, which shape long-term societal infrastructure, and for areas like education, healthcare, and SMEs, which are directly embedded in communities, the benefits of social value are numerous and undeniable. Adding social value is both a moral imperative and a commercial opportunity. It drives innovation, strengthens public trust, and helps meet regulatory, ESG, and sustainability goals.

Examples of the Sector-Specific Benefits of Social Value

Technology / Deep Tech

• Differentiation in B2G and B2B markets by aligning innovations with social outcomes for e.g. digital inclusion, healthcare access, carbon reduction
• Attracting mission-aligned investors, especially those focused on impact or ESG funds.
• Ethical tech positioning, appealing to regulators, partners, and talent.

Public Procurement / Government Suppliers

• Increased tender success rates by meeting social value weighting criteria e.g. employment, community engagement, decarbonisation.
• Stronger partnerships with public authorities who value community investment and compliance.
• Reputation resilience through transparency and demonstrable impact.

Construction / Infrastructure

• Win major frameworks and public contracts by embedding local employment, apprenticeships, and supply chain diversity.
• Meet Net Zero and community benefit targets through built-in planning and design.
• Enhance stakeholder relations with local authorities and residents.

Education / Skills Training

• Boost learner engagement and employability through inclusive programmes with clear social impact.
• Demonstrate social return on investment to stakeholders.
• Forge industry partnerships that support underrepresented groups and lifelong learning.

SMEs and Start-ups

• Stand out to customers by embedding purpose from day one.
• Build resilient business models aligned with future regulation and consumer demand.
• Access specialist contracts and support targeted at values-led SMEs and diverse founders

Social value in business is not just a reporting requirement it is a competitive advantage. When embedded strategically, it fuels growth, innovation, and trust. For ambitious and future-facing businesses and organisations, it’s not a nice-to-have, but a must-have. .

Enterprise Evolution offers specialised assistance and technology to organisations seeking to understand, measure, improve, report and verify the social impact and value of their activities. Want to work together? Contact us here.

About the Author: Maggie O Carroll is Founder and CEO of The Women’s Organisation, an award-winning social enterprise, working nationally, and internationally, providing research, policy, training, advice, and incubation services. Maggie is Executive Director of Enterprise Evolution.

Maggie is a visiting Professor of Entrepreneurship at the Hunter Centre, Strathclyde University, Co-Chair of Women’s Enterprise Policy Group, and a visiting scholar at the Haydn Green Institute of Innovation and Entrepreneurship, Nottingham University.

Maggie is actively involved in shaping women’s economic development and SME policy on a local, national, and international basis. Her work has been recognised across the UK, with business accolades including ‘Entrepreneurs Champion of the Year’ and ‘Social Leader of the Year’.