The Responsible Finance Podcast By cover art

The Responsible Finance Podcast

By: Jamie Veitch
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  • Summary

  • From banks that can’t lend to small businesses, predatory payday lenders, high interest loan sharks, or social investors who just don’t support social enterprises - there’s plenty to criticise in the world of finance. But there’s a a strong and growing network of finance providers who are building resilient economies throughout the UK – offering a personal service, a supportive approach and a real alternative to traditional bank lenders and finance providers. Responsible Finance providers bring social and economic benefits to people, places and businesses. And on the responsible finance podcast, we hear about how they build hope, create opportunity and change lives – that’s responsible finance.
    © Responsible Finance and Jamie Veitch 2018
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Episodes
  • Financing social enterprises and the local multiplier effect with Resonance and Raised In

    Financing social enterprises and the local multiplier effect with Resonance and Raised In
    Nov 1 2023
    Katalin Juhasz and Ollie Pollard join us today to show how impact alignment between investors and social enterprises makes a difference to communities and businesses – plus what traditional city institutions can learn from social investors. Ollie is Head of Enterprise Growth Funds at Resonance, founded in 2002 with the mission to connect capital to social enterprise. It had around £350m under management (and a team of 60) when we recorded this podcast. Katalin is Head of Future Business and Impact at Raised In, a social enterprise nursery based in Bristol. I noticed that before joining Resonance, Ollie had worked in the City of London for a decade and then on a Sri Lankan tea plantation for 18 months. So we picked his brains about how that experience changed his perspective – and what city investors can learn from social investors. We also discuss how the push towards impact investing has affected Resonance, the effect of accolades such as winning Property Investment Company of the year, and a new Resonance Enterprise Investment Fund. This new fund will provide patient, flexible, risk bearing and accessible investment finance to growth-stage social enterprises. Ollie tells us more. Then we hear from Katalin and if your assumptions about how a social enterprise nursery operates were similar to mine then you must listen to this. She describes how Raised In generates social impact and community benefit – and how its model means it can attract and retain talented staff. Raised In has previously secured two investments to grow, from Resonance. Katalin tells us what it needed the finance for (it created LOTS of new jobs, and has enabled 100 families to access nurseries they would not have been able to) and why it worked with Resonance. We hear about pre- and post-investment support and the "local multiplier effect" – Raised In helped sustain many local businesses because of its investment. Katalin Juhasz and Ollie Pollard join us today to show how impact alignment between investors and social enterprises makes a difference to communities and businesses – plus what traditional city institutions can learn from social investors. Ollie is Head of Enterprise Growth Funds at Resonance, founded in 2002 with the mission to connect capital to social enterprise. It had around £350m under management (and a team of 60) when we recorded this podcast. Katalin is Head of Future Business and Impact at Raised In, a social enterprise nursery based in Bristol. I noticed that before joining Resonance, Ollie had worked in the City of London for a decade and then on a Sri Lankan tea plantation for 18 months. So we picked his brains about how that experience changed his perspective – and what city investors can learn from social investors. We also discuss how the push towards impact investing has affected Resonance, the effect of accolades such as winning Property Investment Company of the year, and a new Resonance Enterprise Investment Fund. This new fund will provide patient, flexible, risk bearing and accessible investment finance to growth-stage social enterprises. Ollie tells us more. Then we hear from Katalin and if your assumptions about how a social enterprise nursery operates were similar to mine then you must listen to this. She describes how Raised In generates social impact and community benefit – and how its model means it can attract and retain talented staff. Raised In has previously secured two investments to grow, from Resonance. Katalin tells us what it needed the finance for (it created LOTS of new jobs, and has enabled 100 families to access nurseries they would not have been able to) and why it worked with Resonance. We hear about pre- and post-investment support and the "local multiplier effect" – Raised In helped sustain many local businesses because of its investment.   Katalin Juhasz and Ollie Pollard join us today to show how impact alignment between investors and social enterprises makes a difference to communities and businesses – plus what traditional city institutions can learn from social investors. Ollie is Head of Enterprise Growth Funds at Resonance, founded in 2002 with the mission to connect capital to social enterprise. It had around £350m under management (and a team of 60) when we recorded this podcast. Katalin is Head of Future Business and Impact at Raised In, a social enterprise nursery based in Bristol. I noticed that before joining Resonance, Ollie had worked in the City of London for a decade and then on a Sri Lankan tea plantation for 18 months. So we picked his brains about how that experience changed his perspective – and what city investors can learn from social investors. We also discuss how the push towards impact investing has affected Resonance, the effect of accolades such as winning Property Investment Company of the year, and a new Resonance Enterprise Investment Fund. This new fund will provide patient, flexible, risk bearing and accessible ...
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    37 mins
  • Proving the impact of air quality interventions and low emission zones with data detective Kate Barnard

    Proving the impact of air quality interventions and low emission zones with data detective Kate Barnard
    Sep 3 2023

    Low emissions zones became a political battleground just after recording this interview with Kate Barnard, founder and CEO of Enjoy The Air.

    But what does the public think? Can we prove the impact of "hard or soft" interventions on air quality? And just how far are people prepared to go when it comes to action in response to poor air quality?

    "I was astounded" says Kate as she reveals the results of research showing just how many people will – if they have the means to – vote with their feet and move out of places with poor air. Which cities are most at risk? Kate explains.

    Despite a legal requirement on local authorities to document and provide evidence of their air quality it is surprising how many don't, Kate says. Though some are exemplary: she tells us which, why, and what we can learn.

    Kate spent two decades in a corporate career with Rolls Royce before launching her business, an "evidence based air quality intelligence company," which is now nearly three years old.

    This is a return visit to the Responsible Finance podcast for Kate and covers a huge amount of new ground. She discusses corporate and startup culture and what funders, financial backers and corporates can do better to support the UK's startup ecosystem.

    Plus plenty on the staggering results of public polling about air quality and how to communicate the reasons (and the "what's in it for me?") for Low Emissions Zones (anyone involved in policy research should listen to this).

    Kate also covers the development of Enjoy the Air's HALO air quality certification (funded by SWIG Finance and the British Business Bank), and how we can improve air quality for the most vulnerable.

    What next?

    • More about Enjoy the Air https://enjoytheair.earth/
    • More about SWIG Finance https://www.swigfinance.co.uk/
    • More about Responsible Finance https://responsiblefinance.org.uk/ 
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    31 mins
  • Fair banking, good credit and collaboration: Niall Alexander, Fair4All Finance

    Fair banking, good credit and collaboration: Niall Alexander, Fair4All Finance
    Aug 3 2023

    A community banking agreement brokered by a disadvantaged community with a mainstream bank two decades ago offers valuable insights to address financial exclusion today.

    Niall Alexander, a "community worker by trade" says the "groundswell" in addressing unfairness and financial exclusion is now reaching a peak. People "aren't asking for gold plated taps" – they need very small sums of money, but could turn to illegal lenders if fair and affordable credit isn't available legally.

    Niall, now Markets and Consumer Insights Manager with Fair4All Finance, covers a lot of ground in this episode and doesn't mince his words.

    A couple of decades ago he worked in Wester Hailes, a peripheral housing estate in Edinburgh. With some "amazing community activists" they set up a community banking agreement with the Bank of Scotland.

    • What did it achieve for disadvantaged, under-served and financially-excluded people?
    • How has Niall's journey from community worker to bank employee to working with community development finance institutions, then Carnegie UK informed his work with Fair4All Finance?
    • What are his key priorities with Fair4All? Niall describes the recent powerful report into illegal money lending and other forthcoming research due in September 2023.
    • Why is Niall a fan of good, fit-for-purpose legislation.
    • What can we do to help people avoid illegal lenders and scale up affordable credit?
    • How has Michael Sheen's engagement in addressing high-cost lending been helpful?
    • Why should we, and how can we, quantify the value and benefit of the wraparound services that not for profit lenders offer?
    • And what potential does a Community Reinvestment Act – or Fair Banking Act – offer in the UK?

    Many people work really hard to run really good businesses with wafer thin margins in community finance. And there are good people in mainstream finance who want to find common ground – despite different cultures – and Niall is confident in the potential for a "slow then sudden" change.

    What next?

    • Visit the Fair4All Finance website for reports mentioned in this episode https://fair4allfinance.org.uk
    • Read about the report from Fair4All Finance and We Fight Fraud ‘As one door closes – Experiences of illegal moneylending during an emerging cost of living crisis’ 
    • Listen to our podcast episode with Michael Sheen
    • Learn more about Fair Finance, Fair for You, Moneyline, Salad Money and Responsible Finance, which represents social purpose, community lenders in the UK: https://responsiblefinance.org.uk
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    47 mins
Management Economics
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