Yesterday we launched our Calderdale Social Impact Fund, one of the main criticisms of the social investment landscape in the UK is that not enough capital is getting to the front-line. Yorkshire-based Key Fund who are our partners to the Calderdale Social Impact fund, are trying to do something about this – and so far the results seem promising.
Sam Tarff, the CEO of Yorkshire-based social investor Key Fund, recently spoke to Pioneers Post about the north-south divide in the UK, the challenge of supplying the correct form of capital and his thoughts on the ever looming general election.
Headlines from the article are:
In the last 18 months, over 75% of our investments are in the top 20% of areas of disadvantage (according to the Indices of Multiple Deprivation) across the north of England where we exist.
The sector needs to collaborate… If it doesn’t, it opens the door for larger organisations to parachute in.
We’re working with four local authority area districts at the moment. The commissioners in those districts all very much see the value of working with social enterprises as a means of delivering public services.
Their challenge is that they’re having to shrink the number of people in their organisations and the number of people that are managing contracts. Although they want to work with the sector, practically, they can only service a fewer number of sub-contractual relationships.
The Community Foundation for Calderdale (CFFC) has for 25 year provided grant aid to many of Calderdales charitable organisations.
However the funding landscape has changed considerably over the past few years and we are responding to that change at the Community Foundation.
We believe that charities and social enterprises have a significant role to play in improving the lives of the most disadvantaged people in Calderdale. CFFC is a charity and understands the unique challenge faced by local charities and social enterprises when looking to develop and grow.
CFFC is dedicated to enabling organisations to increase their community, economic and environmental impact, and have now launched the Calderdale Social Impact Fund to provide tailored investment loans in Calderdale.
As part of our new grants strategy organisations in Calderdale can now access unsecured tailored finance between £5,000 and £75,000.
To invest in:
- Capital expenditure such as buying or renovating a building.
- Working capital to bridge the time between spending money and receiving it.
- Development capital to help groups grow or replicate their service.
A key part of the Social Impact Fund is an associated mentoring and business support bursary worth up to £2,500 to help applicants develop their enterprise idea and business readiness. To apply please click here (please state Social Impact Bursary on your application) All application for the bursars are to be completed on-line.