'We're needed more than ever': Big Issue's work has helped millions affected by poverty in last year

Big Issue Group’s (BIG) work reached 9.6 million people in 2023 signalling a stark rise in reach, support and engagements with its services as Brits continue to be trapped in an ongoing poverty crisis.

The annual Big Issue Group Impact Report showed a 24% increase in the number of people reached by the organisation’s work. The group is hoping to reach 11 million people at the end of 2026.

That’s against a backdrop of rising poverty across the UK with more people needing support for escalating mortgages, rent costs, energy bills and food prices.

More than one in five people are now in poverty in the UK and 3.8 million people are reportedly living in destitution in 2022, including around one million children. This is almost two-and-a-half times the number of people in 2017. 

One of the country’s leading social enterprises and B Corps, the Big Issue is continuing to come up with innovative solutions to the crisis to change lives through enterprise.

Paul Cheal, CEO of the Big Issue Group, said: “Our enterprising solutions to support people in poverty, be it direct or through our work with other organisations, are making a real difference to people’s lives.

“Whether through our work with vendors, our social investments, our person-centred recruitment service, or the impact of our campaigning, we’re determined to unlock social and economic opportunities that help millions endure the poverty crisis the UK is currently facing.  

“We’d like to thank those who have supported us, be it readers, partners or investors. This report demonstrates that our work is needed more than ever.”  

The impact report showed selling the Big Issue magazine remains an enterprising solution for people facing poverty to generate an income.

A total of 913 people sold the magazine for the first time in 2023, and £4m was collectively earned by vendors across the UK, an 8% increase on 2022. 

In addition, there was a 57% increase in the number of people reading the Big Issue’s journalism online. In total, 7.9 million unique users sought out Big Issue exclusives on issues impacting people feeling the bite of the cost of living crisis, from energy price fluctuations to universal credit changes. 

Big Issue Group’s social investment arm, Big Issue Invest (BII), improved the lives of 1.5 million people through the 140 purpose-driven organisations they’ve invested in. BII backs passionate social entrepreneurs to deliver projects that work for their communities, with around £45m of assets under its management in 2023, a 20% growth on last year. 

Big Issue Recruit (BIR) also supported 229 individuals on their journey to employment. BIR is dedicated to finding sustainable employment for people who face barriers to finding work, such as people struggling with their mental health and placed 85 people into new job opportunities in 2023. 

Head here to read the full report and find out how you can support us today.