Category Archives: Banking

Forward to 2020

Looking for a bright future…

In our last post we reflected on time passed and have turned our attention to the future, thinking about organisational development in our social business for 2020.

We read a post on Medium recently, which decried, as a management technique, the announcing of your plans…lest you stumble and they all come to nought.

We have thought about this too, and have come to the decision, given the ubiquity of the internet and new media, that laying out plans, even one’s not fully ready for complex delivery yet, is a sound way to make contact with like-minded community actors and organisations. Our own motives and action plan are below…

Inspirational Beginnings

We have attended this year ((2019) a number of events organised by the Centre for Local Economic Strategies (CLES), in both Liverpool and London. Designed to create awareness of, and engagement with, the Community Wealth Building (CWB) agenda. In this aim Neil McInroy and his highly skilled team, have been effective.

This engagement has started us thinking about how CWB can be energised to reach the micro and small community facing social businesses or organisations across our region.

It is clear from the recently published documents below, that this community mercantile sector is clearly woven into the multivariate practice, target segments and policy focus of the CWB change matrix.

Key Documents for Strategic Development

CLES have recently published both Community Wealth Building 2019 – theory practice and next steps, as well as a Manifesto for Local Economies.  you can view, print or download both these key documents below…

View, print or download

Community Wealth Building 2019 is a profoundly important document in contextualising local action, policy change and in illuminating the tried and tested, as well as emerging methodologies of change in CWB practice.

Whilst recognising that the new (CLES) Centre for Excellence, funded by the Barrow Cadbury Trust, has a primary focus on Local Authority/governmental policy issues for securing the largest change and development ‘hit’ possible, we think that the same concepts of CWB and the intellectual change mechanisms involved can equally be applied to the small marginalised communities and, importantly, rural England.

 

View, print or download…

The Manifesto for Local Economies contains the building blocks of an exciting new CWB landscape. We do not see any of its elements as revolutionary, but rather see the policy and delivery skein exposed in the document as a progressive, moral and inclusive agenda for the individual, the company/charity, the region and government to embrace.

What The Manifesto calls for is an inclusive, fair and ownership diverting programme of change. It does not decry or deny capital, the market or the organisation – it refocuses them to broad community benefit.

We subscribe to the vision.

The action plan – the micro-contribution

  1. To maintain and continue to consolidate clients for SocEntEastMids in the six counties region of its published focus – free delivery of support, advice and resources for the creation of Social Enterprise.
  2. A new brand and energy for change
  3. To create a new brand/web site of focus and delivery mechanism, based in Cambridge UK, to engage with rural communities in England around some key elements of the CWB agenda.
  4. To scope and deliver this rural enterprise support across The Midlands, East Anglia, Lincolnshire etc., where rural enterprise is, arguably, remote from national policy change.
  5. To develop a programme of work, addressing community facing organisations – developing focused CWB agenda items to the unique, particular and social landscapes of our chosen geography.
  6. To develop a cost recovery mechanism for external speakers and critical advice, event attendance etc., whilst still delivering our core elements of free advice, web and communication services – with any surplus created directed to support our sister delivery at SocEntEastMids, as is normal for our Partnership. To help maintain the sustainability of the programme.
  7. To focus our Muntjac energy initially on Business Growth Hub creation, Community Banking, and Employee Ownership. This latter may well spill over into help in creating partnerships, employee owned businesses, co-operatives, measuring impacts for baseline plans etc.
  8. To make Cambridge a ‘go to’ place for CWB in the rural environment. (We have large car parks…Ed).
Spiky, yet endearing …excuse the pun!

The Muntjac is a persistent, pervasive and spiky creature in the rural environment. We like them.

Our strategy and delivery for the CWB programme, although modest, will hopefully develop the same profile.

If you would like to be part of a new CWB initiative in the rural East, do use our site contact facilities and have an opening conversation with Tim.

Finance Innovation – the film

The Finance Innovation Lab have just launched a short film that nicely encapsulates their work, featuring the collaborative, facilitative and encouragement of change aspects of their work.

  • The Finance Innovation Lab seeks to help create alternative business models in the the finance sector.
  • 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.

If you’re a full-on corporate banker, do watch the fim and explore the Finance Innovation Lab web pages. You might even turn a corner yourself!

Cabinet Office – Social Investment Awards

 Investing in UK social business…

The Cabinet Office Social Investment Awards recognise the impact social investment is having on communities across the UK.

Now entering its second year, the awards highlight the innovation and dedication of world leading social investors and enterprises, celebrating both the achievements of teams and individuals alike.

The awards are supported by NatWest. In 1999 the bank set up its own charity, Social & Community Capital, to help fund social enterprises and community lenders that cannot access mainstream finance and to help them on their path to the financial mainstream.

The awards have six categories that applicants can enter, free of charge, by nominating their own businesses or social enterprises.

Institutional Social Investment Award
Institutional investment deal or product that has created demonstrable social impact at scale.
New Social Investors Award
Investment deal or product that has attracted new savers and investors into the social investment market.
Social Entrepreneurs Investment Award
Investment deal into an early stage social organisation to create demonstrable social impact.
International Social Investment Award
International investor who has invested through the UK market to create social impact anywhere in the world.
Market Building Award
Organisation that has demonstrated innovative and diverse ways to grow the social investment market in the UK.
Public Service Transformation Award
Social investment deal that has delivered improved public services.

Categories 1-3 and 5-6 are open to nominations from England, Scotland, Wales and Northern Ireland. Category 4 is open to individuals or organisations based anywhere in the world.

The awards close to applications on 18 March 2016. Short-listed nominees will be notified on 1 April 2016 and the awards ceremony will be held in London on 3 May 2016.

For more information see the Cabinet Office Social Investment Awards website.

New EU intermediary funds for SME’s announced

The EU made two major announcements this week, about programmes across Europe. Designed to sustain SME’s, who lack the collateral to enjoy secured lending. The announcements represent a new cohort of funds to broaden the business base of the small business sector.

The European Commission and the European Investment Fund (EIF) will deliver a new 100 million Euro fund. The Fund will be to bring new ideas to market. The Fast Track to Innovation (FTI) Fund will be available in 2015 and 2016.

Consortia of three to five members will be free to bid for the funds at any time. ‘EU officials expect grants to be between €1m and €2m’.

The executive also signed an agreement with the European Investment Fund. The Commission said ‘…this would open up €25 billion of potential finance for SMEs over the next seven years’.

The EIF provides risk finance to SME’s across Europe. It will give €1.3billion for SME financing, under the EU Competitiveness of Enterprises Programme.

The EIF will give that money to financial intermediaries such as banks or funds, who will in turn make it available to SMEs.

The EIF will appoint the intermediaries. There will be a call for expressions of interest and a due diligence process.

The Commission estimates that up to 330,000 SMEs will receive loans backed by the guarantees. Total lending will hit €21 billion. An average guaranteed loan will be €65,000 per firm.

internetIconMini  See the original EU Fast Track to Innovation Press Release here…

internetIconMini  See the web pages of COSME, better finance for business here…

Ethical business with a social dimension...
Ethical business with a social dimension…