Towards a social stock exchange

It’s great to see the idea of a social stock exchange is finally gaining some acceptance in social enterprise circles. Some people say it’s too early for an exchange, but I remember discussing the idea over 10 years ago with Peter Lang and let’s face it - if things are going to carry on at this pace in reality it’s probably too late already! Remember, a bunch of brokers first started trading stocks in 1694, hanging out in a courtyard in Sweetings Alley. It was 100 years before the Exchange was officially established.

The problem is that not everybody has the same idea about what a social stock exchange would be. With some exceptions, those opposed have a background in the city, and they know what a complex and expensive beast a stock exchange is. Those in favour, on the other hand, are the social entrepreneurs who feel that, if properly structured and regulated, could be an invaluable source of finance independent of Government.

The solution is to get there in small but steady steps. Let’s start with a website where everybody interested in buying ethical shares can find out what’s on offer. Then let’s see if we can train social enterprises in how and when it’s a good idea to do an ethical public offering. Then if there starts to be some take-up, let’s find a way to make it cheaper. OK , so none of that makes for a full blown exchange. But each one is a step towards it.

We need to make a social stock exchange happen. The world’s stock exchanges have channelled gazillions into business. I know from our own share issues that there are a lot of people out there looking to make ethical investments. But we can’t look to Government to provide the answers. What we need is another of those social entrepreneurs who is willing to stake everything on a single mission. If that’s you, e-mail me!