The Social Enterprise Support Fund provides essential financial support to help social enterprises during COVID-19. It will help social enterprises to meet additional demands, change the way they work, make their spaces COVID-secure, and manage liquidity during the next six months.
Social enterprises use trading income to create social impact. Because of their reliance on trading, they have been particularly hard hit during the COVID-19 crisis. Many have seen their trading income reduce. At the same time, many have seen an increase in demand for their services.
Five social enterprise support agencies have come together to deliver the fund. Big Issue Invest, The Key Fund, Resonance, the School for Social Entrepreneurs (SSE) and UnLtd will jointly deliver £18.7 million in grants, with support from CAF Venturesome, the Young Foundation and Ashoka.
You can apply for grants of between £10,000 and £300,000 that must be spent within six months. Funding is very limited, so they encourage you to only apply for what you need.
The funding can be used for two types of support:
- Funding for activities supporting people and communities affected by COVID-19; and/or
- Helping organisations overcome any acute financial difficulties they are facing as result of the crisis.
- This fund is only available for social enterprises most of whose beneficiaries are in England.
- An incorporated social purpose organisation, with an asset lock.
- Incorporated at least a year ago (i.e. registered with Companies House, the FCA or the Charity Commission).
- Annual income between £25,000 and £1.5 million before COVID-19
- Was financially stable before COVID-19.
- Substantially reliant on trading income (e.g. sales and delivery of contracts) to deliver social impact.
In addition, you must be able to demonstrate your social enterprise is working in one of the following priority areas:
Social enterprises supporting people who are at high risk from COVID-19 – specifically social enterprises that:
- Connect with older people
- Connect with disabled people
- Provide advice and support to people who are pushed into crisis
- Provide support to those in medical care or end of life care
Social enterprise supporting people most likely to face increased demand and challenges as a result of the COVID-19 crisis – specifically social enterprises that:
- Provide essential items directly to families who are hit hardest
- Support BAME and other communities who experience health inequalities
- Support people who experience loneliness and social isolation
- Support people who experience poor mental health
- Support children and young people to achieve their potential
How To Apply
Applicants are to review the application guidance & FAQs before applying.
You must complete all fields and include the required documents, otherwise they may not be able to assess your application. Applications will close at 1pm on August 20, 2020.
For more information, visit Social Enterprise Support Fund.
Application Deadline: August 20, 2020