Impetus Trust invests £50,000 in social enterprise FRC Group

Finance | Vibeka Mair | 13 Nov 2009

Impetus Trust is investing £50,000 in the FRC Group, a social enterprise which creates opportunities to improve the lives of the unemployed and people living in poverty.

The aim of the investment is to support the development of Liverpool-based FRC Group’s business model to help it achieve its ambitious growth plans. These include offering three times as many training opportunities for the long-term unemployed.

The deal will bring the number of charities in Impetus Trust’s portfolio to 14.

Impetus chief executive Daniela Barone Soares said: “Long-term unemployment feeds the cycle of poverty and it is clear innovative solutions need to be found if we are to make real progress. With around three quarters of a million long-term unemployed in the UK, there is a huge potential for growth for proven organisations such as FRC Group. We look forward to working closely together to help turbo-charge its impact.”

The FRC group runs three social businesses: Furniture Resource Centre, a furnishing service for social landlords and the shared living market; Bulky Bob’s, a collection, reuse and recycling service for domestic bulky household waste and Revive, a store that sells second-hand furniture and appliances to low-income households.

Impetus is investing in FRC Group as part of a 14-month 'phase 1' investment. This is an initial investment period to develop the plan for growth, which is usually followed by further investment over a longer period. On average, Impetus works with its portfolio charities for a total of four to five years, and provides them with approximately £400,000 in strategic funding. This is leveraged by an additional £300,000 - £500,000 in the value of pro bono expertise given to the charity or social enterprise.

Directory: Impetus Trust
Who's Who: Vibeka Mair

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