David Cameron launched Big Society Capital (BSC), the world's first social investment bank, at the London Stock Exchange today.
"Just as finance from the City has been essential to help businesses grow and take on the world, so finance from the City is going to be essential to help tackle our deepest social problems," Cameron said.
In his speech, the Prime Minister highlighted the FranchisingWorks Licence Fund, one of Big Society Capital's first investees, as evidence of how the new bank is supporting innovative organisations that generate both social impact and financial returns. FranchisingWorks is a Shaftesbury Partnership venture, helping unemployed people to start their own franchise businesses in Greater Manchester.
Patrick Shine, our Lead Partner and Executive Director of FranchisingWorks, was at the launch today, and shared his reflections with BBC News: