Impact of City businesses in Addressing Social Disadvantage: 2010 Update

In 2008, the City of London published research by Oxford Economics which estimated how much the City and wider financial and professional business services (FPBS) sector gave to the community in 2006. This updated research provides an estimate of this figure for 2009, using data collected by the City of London Corporation on 33 firms' actual contributions. The paper then repeats the previous analysis of what the FPBS sector's community partners could deliver with these contributions. Finally, it estimates the monetary value of economic and social impacts this investment delivers.

Specifically the report found that:

• In 2009, FPBS firms are estimated to have made community investments in UK-based projects worth £519 million. This is slightly above the estimate of £505 million in 2006.
• The FPBS firms' community partners are estimated to have delivered £820 million of economic and social impacts with this contribution.
• So for every £1 the FPBS sector contributed in 2009, its community partners delivered £1.58 worth of impacts.
• If the number of times people are helped is calculated, based on the small sample of firms providing this data in 2009, it suggests the FPBS sector helped people on 9.3 million occasions.

A full copy of the report can be downloaded from here.

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