Power to Change funding webinar TODAY – 20 OCT, 1PM

16 October 2020 – Power to Change Launches £3m Community Business Renewal Fund

Power to Change has announced the funding programme as part of its £5 million package of support for community businesses affected by the Covid-19 crisis.

Established community businesses will have three opportunities over the next five months to apply for unrestricted grants of between £10,000 and £20,000 to help them adapt, renew and rebuild their business so they can continue to serve their local communities as the country moves into the next phase of the pandemic.

Applications will be considered from all community businesses that were financially viable before the pandemic. Priority, however, will be given to community businesses supporting people who are at higher risk from Covid-19; operating in areas of high deprivation; or working closely with Black, Asian and Minority Ethnic (BAME) communities.

The money is unrestricted and can be used to:

• Meet the cost of staff at risk due to loss of trading income or end of Coronavirus Job Retention Scheme (furlough).
• Provide community business leaders with time to strengthen capacity, re-plan businesses, diversify income, pursue digital transformation and increase volunteers.
• Meet capital costs of adapting operations.
• Increase diversity in the sector (among staff, volunteers, service users and leaders).
• Develop the future leaders of the community business sector.
• Support partnership working to influence local economic development strategic planning.
• Enable community businesses providing jobs and training to prepare for rising unemployment.

In addition to the grant funding, the programme will offer

• Two match-funding programmes to support community businesses with different types of fundraising.
• Capacity strengthening support to help community businesses increase knowledge, resilience and equip themselves to ‘re-boot’ successfully.
• Tailored support to help community businesses protect community assets.
• A programme of work highlighting the role community business can play in the economic recovery.

There will be three application rounds, each of which will have a three-hour window of application.

Round one applications will be accepted from 10am to 1pm on 3 November 2020; round two on 12 January 2021; and round three on 2 March 2021.

Organisations can access the guidance notes now and register to attend the free webinar on 20 October 2020.

Further details can be found on the Power to Change website