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Mutuals focus of Cabinet roundtable

03 July 2013

Prospects' unique mutuals joint venture with three London boroughs was the focus of a Cabinet Office roundtable event in June.

Organised by Prospects, the private seminar saw senior council, probation trust and Whitehall officials discussing the implications of the 'Triborough' schools support mutual (3BM Ltd), whose staff own the business alongside minority partner Prospects.

Patrick Burns, Prospects' director of mutuals development, told participants the joint venture - the first of its kind in local government - was attracting interest from councils because it reduced the perceived risk of spinning out services, while offering reduced costs and improved services. A joint venture could also offer continuity, he added - with a better chance of staff beating off competition when the contract came up for renewal.

For more information, contact Patrick Burns, patrick.burns@prospects.co.uk.

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