The Social Enterprise Support Fund will reopen this month offering grants between £10,000 and £100,000 to social enterprises impacted by Covid-19.
Social enterprises will be able apply for grants from £10,000 to £100,000, though most will be given between £10,000 to £50,000.
For the second year running, five social enterprise support agencies have joined forces to create The Social Enterprise Support Fund. Big Issue Invest, Key Fund, Resonance, the School for Social Entrepreneurs and UnLtd will jointly deliver £16.3m in grants. They aim to support 500 enterprises with the money.
The fund has been created in partnership with The National Lottery Community Fund, which has committed £18m to the two-year partnership.
In 2020, the fund distributed £18.7m in grants to over 600 social enterprises across England.
Daniel Brewer, chief executive of Resonance, commented on the fund's reopening: “The fund will provide essential financial support to help social enterprises, right across England, to rebuild and grow their income from trading, following the impact of Covid-19 and provide support to the communities they serve.”
Who is eligible for the funding?
The social enterprises that apply must:
- Have an annual income between £20,000 - £1.8m in either of the last two financial years.
- Be at least one year old.
- Have most of its beneficiaries in England.
- Be an incorporated social purpose organisation with an asset lock.
- Be financially resilient.
- Be reliant on income from trading.
The Social Enterprise Support Fund is targeted at social enterprises supporting people facing social and economic challenges as a result of the Covid-19 pandemic. It aims to help grow organisation's trading incomes.
Supporting underrepresented grantees
50% of grants will go to organisations led by people from Black, Asian and minority ethnic communities, LGBTQ+ communities, disabled people and/or leaders with lived experience of the issues their social enterprise addresses.
Social Enterprise Support Fund are granting half the funding to underrepresented groups because “the fund is committed to inclusion”.
Mark Norbury chief executive of UnLtd, said: “We know that the pandemic has had deeply unequal effects, exacerbating existing barriers and marginalisation in society. The right funding must be given to those addressing these harms.”
Applications can be made between 25 November and 1pm 21 December. More details are on the website https://socialenterprisesupportfund.org.uk/
We're delighted to announce the Social Enterprise Support Fund with @BigIssueInvest @KeyFund @resonanceltd @SchSocEnt funded by @TNLComFund— UnLtd (@UnLtd) November 10, 2021
£16.3m to help social enterprises in England rebuild their trading income in the COVID-19 recovery
Learn more - https://t.co/ax0jMJDB15 pic.twitter.com/IA3lDVmSyG