The Big Issue Group has reported an increase in the number of vendors selling its magazine as well as more people engaging with its products.
The group said it was moving towards its goal of 11 million people becoming customers of its services and products by 2026.
The organisation said there had been a 10% increase in the number of vendors selling the magazine in the past year while their collective earnings rose by 38% to £3.76 million.
There has been a 50% growth in the number of people reading the magazine.
The organisation’s investment arm made 132 investments into social enterprises and charities in 2022, supporting 2.1 million people in the UK.
The report revealed that demand for food and fuel support from vendors had increased sevenfold in the past year.
Lord Bird, founder of the Big Issue, said: “There are currently over 14 million people trapped in poverty. Right now our work is needed more than ever with spiralling living costs, and continuing increases in poverty and hardship.
“In 2022, the number of Big Issue vendors increased by 10% because more people need an income or an additional source of income.
“We are fighting fires on all fronts and our report demonstrates that we are needed more than ever.”
Paul Cheal, Big Issue Group chief executive said: “As increasing numbers of people are turning to us for support and to find out how they can help those most in need, we are continuing to innovate and develop new services, to bring about new economic opportunities for those people who are most marginalised in our society.
“We want to be there for as many people as possible in these uncertain times and we are proud that, in 2022, we have managed to more than double our reach.”
