An Edinburgh-based social enterprise is celebrating doubling its turnover in the last 12 months, as it forecasts growth to £5 million within years.
Security service GTS Solutions saw turnover double to hit £1m during the past year, which the firm said underlined its position as “one of the most successful” social enterprises in Scotland.
CEO Chris Thewlis said: “GTS generates over 95 per cent of its income from trading activity reinvesting a minimum of 65 per cent of all net profit into its social aims and objectives.
“Many other social enterprises will be subsidised or grant-funded to much higher ratios which makes our performance all the more pleasing.”
GTS recently signed a contract with Stirling Council, the tenth local authority to enter into a current partnership with the social enterprise.
Historic Environment Scotland engaged the firm to provide additional security at Edinburgh Castle and it is also the security supplier of choice for the University of Glasgow’s regeneration project.
The company’s upcoming annual impact report will forecast growth to exceed the £5m mark over the next three years, which would see it enter the top 4 per cent of social enterprises in Scotland ranked by turnover.
Thewlis added: “We currently operate within the top 8.2 per cent of social enterprises for turnover and our expected growth should see us enter the top 3.6 per cent within the next three years. This top 3.6 per cent is mainly made up of housing associations and credit unions which have large asset bases and high regular income.
“We also operate within the top 14 per cent of social enterprises for turnover within the UK, which is way above the £150,000 median for a social enterprise aged six to ten years.”
GTS is hoping to growth further by expanding south of the Border, where it is currently tendering for contracts.
The news comes as Scotland’s capital prepares to host the Social Enterprise World Forum, which will take place 12 to 14 September at the Edinburgh International Conference Centre, with speakers including First Minister Nicola Sturgeon.