Back again in 2017, Ignite are again looking forward to advance investment readiness and idea development for the brightest in the social enterprise energy sector.
Advancing social impact in the energy sector – with the support of Centrica.
If you are over 16 years of age, resident in the UK and looking to develop your energy business potential…then you should apply to the Ignite Social Enterprise challenge. With investment available from betwwen £50k and £2m, then put your energy, enthusiasm and nascent business in the best place to ‘give it wings’.
You need to contact ignite (at ) centrica.com to discuss your idea and to obtain an application form. The deadline for the simple first round is 31st January, 2017.
‘ Social Enterprise Day on the 17th November, is an opportunity for the 70,000 social enterprises across the UK to shout about the good work they’re doing and the difference they’re making. Using social media is an easy and quick way to do this‘.
Imaginaitive with funding, secure in it’s mission for social enterprise – The Key Fund…
Key Fund, a long-standing investor in community and social enterprises, is delivering the Northern Impact Fund, aimed at new and early stage enterprises who are seeking finance to support growth.
Matt Smith, CEO of the Key Fund, said: “With this fund we’re offering finance of up to £150k, but typical investments will be around £50k, with up to 20% of the amount available as grant. The Key Fund was one of the early pioneers in this space, and our original model was based on a grant and loan mix, so we’re really excited to be going back to that original model. It’s long been our belief that grants can play a very important role in helping new and smaller social enterprise become more robust.”
Source: The Key Fund web site – thekeyfund.co.uk Accessed 25.09.2016
A new blended grant and loan fund, the Key Fund package looks to secure sector deals in the £5,000 to £150,000 range. Applications are accepted from across the North and Midlands, with the Fund looking to realise 46 deals a year.
At a flat rate of 6.5% interest, the average loan term secured is expected to be three years.
Interested in business development on these terms, as a social/community enterprise. See the links below…
‘The Institute of Enterprise and Entrepreneurs has been over 15 years in the making and exists to make sure that all those involved in enterprise are able to access the support they need, when they need it’.
Whether your interest lies in tracking SFEDI Centres of Excellence or in developing apprenticeships and wider learning in business, then Think Enterprise has something of interest for you.
Be sure to check out pages 16 & 17, with their 2016 Enterprise Awards almost upon us, if only to read of the developmental success of others can in itself an inspiring and confidence building thing as you grow your own business, whatever sector you are in.
The Nottingham Social Impact Fund supports the development of new and existing social enterprises, jobs and growth, offering loans from £5,000 to £150,000.
The Fund believes community and social enterprises not only reignite local economies, but are best placed to tackle social problems, from community-owned pubs, social care services, high-tech renewable energy solutions and recycling schemes.
Dave Thornett, Business Development Manager at Key Fund, said “Nottingham has a strong social enterprise community with the creative arts, the universities and communities. We want to help these businesses grow and play our part in starting new ones in the city. There are great businesses such as Sneinton Market Traders and Food Freedom already growing and organisations such as The Creative Quarter and The Hive stimulating activity.”
If you are interested in Nottingham Social Impact Fund contact Andy Croft via:
Andy.firstname.lastname@example.org or on 07814 832852
Check our the ideas for promotion, templates for everything from press releases to a letter to your MP or elected members to give your enterprise a boost, support Social Saturday in 2016. Celebrate the work of your community with invited guests. Makes great copy!
You can always support the team at Social Saturday and add interest to your own energetic promotion by emailing news of your events or occasions to email@example.com
Give your enterprise a boost, support Social Saturday in 2016.
The Charities (Protection and Social Investment) Act 2016 (’the 2016 Act’) introduces a new statutory power for charities to make social investments. This came into force on 31 July 2016.
The Charity Commission have released yesterday interim guidance to charities to cover this new development in financial matters. The interim information is due for review in 2017, but the Commission are keen to underscore, for trustees, the power trustees now have to make ‘social investments’.
Below are some useful definitions and links to more information on this theme for those involved in charty governance and finance.
What is a ‘social investment’?
‘In the legislation, a ‘social investment’ means a ‘relevant act’ of a charity which is carried out ‘with a view to both directly furthering the charity’s purposes and achieving a financial return for the charity’.
A ‘relevant act’ means one of two things:
an application or use of funds or other property by the charity; or
taking on a commitment in relation to a liability of another person which puts the charity’s funds or other property at risk of being applied or used, such as a guarantee’
‘A financial investment is an investment made solely for the purpose of achieving a financial return for the charity.
A programme related investment (PRI) will not be a social investment unless the financial return to the charity forms part of the motivation for the charity making the decision to carry out the relevant act.’
The guidance issued goes on to review trustees’ general duties, the statutory restriction imbued by the 2016 Act, as well as the use of a charity’s permanent endowment processes.
In conclusion there is a succinct section of caution on the giving of ‘guarantees’. The guidance does recognise, however…
‘If a charity is asked to give a guarantee, the trustees will need to consider carefully whether they have the power to give it. The power to make social investments includes a power to give guarantees if they meet the definition.’
It is a movement for advocacy, promoting financial sectoral change to key actors.
They also work to effect ‘change from within’, campaigning for the re-alignment of finance professions to a more equitable and fair model.
The Lab web site has an inciteful article, written by Angela Clements, founder of Fair For You. It shows the journey that a finance sector principal can be driven to follow, when the inequity of access to mainstream credit, for example, makes even more difficult the life of an economically disenfranchised family.