At Tipping Point: The Third Sector Leading From Recession To Recovery
The Power of the Third Sector
A turnover bigger than the car industry. A workforce larger than the entire banking and finance sector. A third sector with a total income of £116 billion and assets of £210 billion. A sector that employs 1,347,000 workers. This is a sector that now earns more than it is given, and a growing part of the public services industry.
Yet the stereotype of a sector that is small scale and largely amateur is widespread. When Governments and policy makers think of the sector they think of a largely remedial force, sticking plasters for society’s ills rather than as an economic and social force for change, now larger and more professional than many parts of business.
This is a powerful, if largely unrecognised, economic force. My argument here is that we must harness that force:
- to heal the wounds that the current recession will inflict on society
- to lead the economic recovery, and
- to help prevent a repeat.
We also know people have lost trust in business and Government. But not in the third sector. Working with, and using the economic power of our sector, business and Government can help rebuild trust.
If we are to do this, we will need to overcome a number of barriers. Policy makers will need to change their thinking. The third sector itself will need to ‘gear up’, professionalise and reorganise.
On all those fronts, the past decade has seen movement in the right direction, but it has been limited. Yet we may now be at the tipping point. That point at which a ‘trend’ acquires critical mass and takes off. As the recession demonstrates the weakness of business and the State demonstrates its limitations, the 21st century may be the time for third sector leadership. And it is needed.
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