By Debjani Raffan
Scotland is a country shaped by ambition, talent, and a strong work ethic, yet sadly, access to opportunity remains uneven. Inequality often manifests itself from an early age through disparities in education and learning outcomes; there remains an attainment gap between the most and least deprived communities, while less than a fifth of entrants to higher education come from the most deprived 20 per cent of the population. These challenges cannot be addressed by goodwill alone; they require systemic thinking, collaboration, and sustained commitment to making a tangible difference. This is where social entrepreneurship can offer a compelling response. Social entrepreneurship can super-charge philanthropy from a transactional act into something more strategic, rigorous, and impact-focused. By leveraging the business acumen of entrepreneurs, this model operates with financial sustainability embedded, often as a result directing resources towards initiatives that scale and address systemic issues like educational inequality at their core. Philanthropists can invest with the confidence that their contributions will help deliver measurable results – an approach that resonates with those who understand the importance of return on investment. Of course, the way an individual should approach philanthropy and achieving social impact depends on their goals. We refer clients to our 130-plus in-house team of dedicated philanthropy experts, who then create bespoke strategies based on the outcomes clients wish to achieve. However, social entrepreneurship can be particularly compelling for existing and former business leaders, translating their entrepreneurial rigour and strategic thinking into their philanthropic efforts. We have found that bringing these like-minded individuals together through a collective philanthropy approach can further strengthen their impact when it comes to tackling complex systemic issues like educational inequality. What unites these philanthropists is their ability to pool resources, bring clarity and discipline to their philanthropic goals, and focus their wealth on causes that matter the most to them. For example, those wanting to address systemic issues such as educational inequality in Scotland, can invest in UBS Optimus Foundation’s UK Education Portfolio, which includes organisations making a proven difference in the region. This includes Inspiring Scotland, which strengthens and supports civic society organisations by helping them to build their strength, resilience, and reach. Through a venture philanthropy model incorporating collective impact, it provides high-potential Scottish charities with grant funding and capacity building. Making a visible impact, the organisation’s Our Future Now fund, aimed specifically at supporting disadvantaged young people into education, employment, and training, supported over 16.4k young individuals during its first four years. Meanwhile, IntoUniversity runs local learning centres in Edinburgh and Glasgow, providing young people with a safe place to learn, explore, and succeed. Located in the heart of communities where young people are most likely to live in poverty and least likely to attend university, the organisation delivers proven outcomes. In fact, 61 per cent of IntoUniversity students finishing school in 2022 achieved a university place, compared to just 28 per cent of students from similar backgrounds nationally. By taking an entrepreneurial approach and investing in impact-led initiatives like these collectively or individually, philanthropists can make a sustainable, long-term difference to Scotland’s youth. At UBS, our clients benefit from our unmatched global footprint and ability to tailor solutions to specific local needs, and our philanthropy team have helped over 10,000 clients to date in using their wealth to generate social impact. Ultimately, social entrepreneurship is about more than giving – it is about creating sustainable, scalable change to complex challenges such as educational inequality. By drawing on the skills, networks, and insights of those who’ve led successful businesses, social impact can be scaled in a more strategic, effective way. When mission meets margin – that is, when philanthropy is approached with entrepreneurial rigour and a commitment to equity – the potential is extraordinary. Debjani Raffan is regional head for Scotland, Northern Ireland, North East, and Yorkshire at UBS Global Wealth Management