ABSTRACT
The social impact bond (SIB) model has given us more opportunity to work with clients in a personalised and holistic way and the people have been able to deliver the service faster and more effectively. In 2012, Charities Aid Foundation (CAF) Venturesome was approached by St Mungo’s Broadway (then St Mungo’s) regarding a new SIB backed by the Greater London Authority. In November 2012, the coalition government officially launched the Greater London Authority Rough Sleeping Social Impact Bond, developed in partnership with the Mayor of London, St Mungo’s Broadway and Thames Reach, another London-based homelessness charity. The main work of intervention finished in 2015, although street impact outreach workers continued to monitor and support many of the clients who were still adjusting to life indoors or were not yet in secure accommodation. The SIB model provided funding for an innovative, well-structured social initiative, which has had a demonstrative effect on the lives of many individuals.
