QMU's Social Enterprise Challenge named finalist in Scottish Impact Awards
A co-led initiative involving Queen Margaret University (QMU), Edinburgh has been named a finalist in the Herald Scottish Impact Awards 2026 for its work supporting Scotland’s social enterprise sector.
The Social Enterprise Challenge, delivered in collaboration with QMU, Edinburgh Social Enterprise Network, the University of Glasgow and Glasgow Social Enterprise Network, brings together university students and social enterprises to tackle financial and business challenges, while giving students the opportunity to apply their accounting and finance knowledge beyond the classroom.
The four-week programme connects social enterprises with students, supported by academic and industry mentors, to develop practical roadmaps for financially sustainable futures. It addresses some of the financial barriers faced by social enterprises, including limited capacity, difficulties diversifying income and accessing tailored financial advice, as well as the challenge of demonstrating social impact while remaining focused on their social purpose.
Since launching in 2024-25, the initiative has supported 37 social enterprise teams across its pilot and second year. The pilot brought together 14 teams, before the Challenge was relaunched in 2025-26 with 23 social enterprises signing up.
The Scottish Impact Awards celebrate organisations building a better, fairer and more sustainable Scotland. Delivered by The Herald and Newsquest Events Scotland & NI, the awards recognise organisations that embed purpose into action and create lasting impact across society, the environment and the workplace.
Being named a finalist in the Herald Scottish Impact Awards is fantastic recognition of the Social Enterprise Challenge and the work of everyone involved. The Challenge demonstrates what can happen when universities, students and the social enterprise sector work together around real-world challenges. Students are not simply learning about accounting and finance in the classroom; they are applying that knowledge to real organisations and real constraints, while participating social enterprises benefit from fresh perspectives and practical support. This recognition provides further evidence of the value and wider relevance of the Challenge, and of what can be achieved when education is connected directly to the needs of communities and the organisations working within them.
The programme has demonstrated strong outcomes for students. They highlighted financial statement analysis, budgeting and forecasting, social impact measurement, and financial sustainability planning among the most relevant areas of knowledge they developed through the experience.
One student described the Challenge as “one of the most transformative experiences of my university journey”, saying it allowed them to apply accounting and finance knowledge to “real world problems faced by a local social enterprise” and bridge “the gap between theory and practice in a way no lecture could”.
The Challenge has also created opportunities for wider learning across Scotland’s social enterprise sector. A participant from the Edinburgh and South East Scotland City Region Deal Skills Programme described it as “an invaluable learning resource”, highlighting the potential to identify and replicate best practice for social enterprises facing similar challenges.
The winners of the Herald Scottish Impact Awards 2026 will be announced on 1 October 2026 at an awards ceremony at the Marriott Hotel in Glasgow. The evening will spotlight outstanding contributions in areas including diversity and inclusion, climate action, community impact, sustainable innovation and workforce wellbeing.
For further media information contact Emma Reekie, Media and Content Officer, Queen Margaret University, Edinburgh, E: ereekie@qmu.ac.uk (copy to E: pressoffice@qmu.ac.uk).
