Power to change - £10m community business fund invites applications
The £10m Community Business Fund is providing grants of between £50,000 and £300,000 over three funding rounds to help existing locally based and community-led businesses in England to increase their social impact and make them more viable in the long term. The 2nd round is now open to applications.
Projects and organisations must be incorporated, based in England and share the following four key features:
- locally rooted – they are rooted in a particular geographical place and respond to its needs, for example high levels of urban deprivation or rural isolation.
- accountable to local community – they are accountable to local people. This can be demonstrated in many ways but the organisation must have evidence of regular community influence on the business.
- trading for benefit of local community – they are businesses and their income comes from activities like renting out space in their buildings, trading as cafes or selling the produce they grow.
- broad community impact – they benefit the community as a whole and can clearly evidence the positive social impact on the broader community.
The grants can be used for both capital and project-specific revenue costs.
The deadline for round 2 applications is 31 August 2016 (12pm). There will be a third round in October 2016. Find out more on the Power to Change website