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New Economic Study Finds Clann Credo Support 'Essential'

A major new report has found that Clann Credo’s support has been “essential” to the success of many projects and organisations nationwide, with a high proportion stating they would not exist without it.

The study of the impact of Clann Credo’s work was carried out by DKM Econmic Consultants. It specifically sought to “measure the contribution that Clann Credo has made to the economic and social fabric of Ireland.”

Focussing on the extensive Clann Credo client base - built up over 15 years - the study found that 70% of respondents classified this support as “essential” to the overall success of their project. The remaining 30% rated Clann Credo’s support as “very important.”

Remarkably, many organisations responded by stating that they “would not now be in existence” without the support of Clann Credo.

As one respondent told researchers: “No other financial institution would have supported us the way Clann Credo have. They have been a pleasure to deal with, both on a professional and a personal level.” Respondents were found to be involved in a wide range of social activities, with ‘community facilities’ and ‘childcare’ the two most important areas cited.

Wages and salaries along with spending on local goods and services accounted for the two highest categories of outgoings, indicating how vital these organisations are to the health of local and regional economies.

The study, when published, will also provide for the first time a comprehensive overview of the Social Enterprise and Community Business Sector in Ireland and an assessment of its contribution to our economy and society.

The full study will be made available here shortly. 



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