Social enterprise support fund reopens with £16.3m up for grabs
Social enterprises in the West Midlands are being urged to tap into £16.3million in funding that will help their communities recover from the impact of Covid-19.
The Social Enterprise Support Fund (SESF) reopens applications at 1pm on Monday February 28, with organizations across England able to apply for grants of between £10,000 and £100,000 to help them deliver essential services or increase exchanges in the communities they serve.
Funded by the National Lottery Community Fund, the initiative’s first round in December received 800 applications and a request for funding of over £37million.
Five social enterprise support agencies – Big Issue Invest, Key Fund, Resonance, the School for Social Entrepreneurs and UnLtd – have come together again to deliver the fund with the aim of helping around 500 businesses. The fund is due to close for applications on March 24.
“The volume of applications for the first round demonstrates not only the enormous need for this financial support as community and social enterprises transition into recovery mode, but also the depth and breadth of impact these organizations continue to make. ‘have on some of the most marginalized groups and communities in our society,’ said Matt Smith, CEO of Key Fund.
“We are proud to be part of the team providing this funding at such difficult times for our sector, with the support of the National Lottery Community Fund, and we look forward to receiving new applications in the second round.”
The Social Enterprise Support Fund, which is available to social enterprises if most of their beneficiaries are in England and have an annual income of between £20,000 and £1.8 million in one of the last two financial years , will help social entrepreneurs put their solutions into practice to help those most affected by the crisis.
The focus will be on supporting organizations that will create economic growth while helping those in need or improving the environment.
One company that has had success with its app is Birmingham-based Aidem Digital CIC, which specializes in developing and deploying digital media projects that have some form of social impact.
Indi Deol, Founder, said, “This grant will help us create a new revenue stream and, at the same time, support our social mission of improving access and engagement with the arts and journalism for communities. minorities deprived of their rights.
“Furthermore, as most galleries, theaters and art spaces are located in city centres, Covid-related restrictions and the disproportionate impact on the health of black and Asian people have exacerbated the already weak engagement of the Asia with traditional arts.
“The DESIblitz Truck Art Bus will bring the arts directly to Asian communities, playing a valuable role in addressing inequity in access while providing Aidem Digital CIC and other arts providers with a platform on which to build participation. “