An entrepreneur has claimed a national award for his work running a business committed to generating commercial and ethical returns.

David Floyd, 32, won the Future 50 gong for his efforts running Social Spider Community Interest Company, a social enterprise that seeks positive change through publishing, writing, training and research.

Social Spider, based at The Mill in Coppermill Lane, Walthamstow, helps people who might not otherwise have the opportunity to become media producers and helps make positive change happen.

Mr Floyd, co-founder and managing director, said: “It’s always good to have any recognition of your work.

“It’s a positive thing to be involved in and to be associated with a wide range of entrepreneurs.

“For Social Spider we’ve managed to keep it going through challenging circumstances and we’re still here and making a positive impact and it’s recognition of that.”

The award spotlights entrepreneurs aged 20-35 who are demonstrating flair and innovation in running a business venture.

Among its other services Social Spider publishes One in Four, the only national magazine written by and for people with mental health difficulties.

Mr Floyd added: “Hopefully these awards will encourage other people in the area to start up their own social enterprises.”

Elaine Owen, chief executive of Striding Out and organiser of the Future 50 programme said: “The future of our world is in the hands of individuals who are committed to generating commercial and ethical returns.”

Mr Floyd also goes into the running to be among one of the top five entrepreneurs who will receive additional reward for their excellence.

Judging criteria includes innovation, leadership and team building, environmental and social impact, profits being generated and used for a social mission or social purpose and entrepreneurial flair.

Award winners are to be celebrated on May 23 and will be invited to join Enrst & Young’s Accelerate network which offers them access to events which encourage networking, learning and sharing.