Big Society Capital Is Now Better Society Capital — a Rebrand Won't Solve the Access Problem

The announcement came in April. Big Society Capital is now Better Society Capital. The rebrand marks a break with the “Big Society” political brand of the Cameron era — a brand that was always more of a liability than an asset for the social investment movement. Gordon Brown and Sir Ronald Cohen supported the change. Stephen Muers remains CEO. The organisation continues its work as the UK’s social investment wholesaler, with £925 million of its own capital committed since 2012, unlocking nearly £3 billion from co-investors.

The name change makes sense. “Big Society” was a political slogan that meant different things to different people and was never universally loved in the social sector. “Better Society” is blander, less politically charged, and probably more durable. It’s the right call.

What hasn’t changed is the fundamental question that BSC — sorry, Better Society Capital — has faced since its creation. Does its model reach the organisations that need it most?

The numbers are impressive at the macro level. £925 million committed, unlocking £3 billion, supporting a market that has grown to over £10 billion. But when I look at the average CIC — the small community enterprise that’s the heart of the movement — I don’t see the impact. I see a wholesaler whose products are designed for larger organisations, distributed through intermediaries who have their own costs and mandates, reaching the organisations that are already investment-ready rather than the ones that need investment the most.

The rebrand is an opportunity for Better Society Capital to reconsider its approach. A new name, a new identity, a new mandate to reach the grassroots that the old model never quite served. The 2021-2025 strategy talks about targeting a £10-15 billion market. With the rebrand, there’s a chance to think about how that growth reaches the small CICs that are the foundation of the movement.

Names matter. But what matters more is whether the capital flows to the organisations that need it. Better Society Capital has a new name. The real question is whether it will develop a new approach to match.

I’m watching. Hoping. But not holding my breath.