As a social enterprise, we do not invest for profit but to make a positive social impact. The profit that we make in excess of the amount invested - after adjusting for inflation - will be taken out of our portfolio after 5 years and redirected to the local Edinburgh community in the form of grants. We aim to contribute to community projects that will maximise our social impact. As we wait for our first round of investments to mature, we have set out to create a positive impact on the Edinburgh community in other ways.
This past year, Senior Analysts helped plan a financial literacy programme set to be trialled in Edinburgh. The programme seeks to teach the beneficiaries effective ways to manage their personal finances. We believe such skills are crucial to allow everyone to establish financial independence.
This programme was backed by a £400 grant awarded to Prosper by the Social Responsibility and Sustainability Student Project of the Edinburgh University Students’ Association. These grants, of up to £500, are awarded to student-led initiatives that positively contribute to the social responsibility and sustainability efforts of the University. However, as a result of the Covid-19 pandemic, this grant will be spent on running the same program in the coming academic year.
Going forward, we hope this programme may be implemented in collaboration with other initiatives and charities that aim to help vulnerable members of our society.