Social enterprises invited to apply for grant funding to support coronavirus recovery

Up to 500 social enterprises have been invited to apply for grant funding to support them in the wake of the coronavirus pandemic.

It comes after the relaunch of the Social Enterprise Support Fund, led by The National Lottery Community Fund, Big Issue Invest, Key Fund, Resonance, the School for Social Entrepreneurs, and UnLtd.

According to the terms of the scheme, the fund is offering grants of between £10,000 and £100,000 to help cover the costs of “getting trading back up and running”. This could include outreach and marketing activities, developing new markets and services, or essential running costs.

To apply, your social enterprise must be based in England, be “financially resilient”, be incorporated for at least 12 months, and have an annual income of between £20,000 and £1.8 million (either in your last financial year or the previous (pre-Covid) financial year).

Your social enterprise should also be “substantially reliant on income from trading”.

It is suggested that around £16.3 million in funding will be available at launch.

Commenting on the scheme, Daniel Brewer, chief executive of Resonance, said: “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.”

The fund will open to new applications on Thursday 25 November and will close at 1pm on 31 December 2021. To learn more about the Social Enterprise Support Fund, please click here.

For help and advice with related matters, please get in touch with our charity and social enterprise finance team today.

Posted in Blog, Charities, Charities.