When is a charity also a business? When it is a social enterprise or social venture organisation as well.
Following on from our earlier report at Xperedon Charity News on social enterprise funding via the Big Society Capital bank, further awards for social enterprise have also been announced from the government’s Investment and Contract Readiness Fund.
The fund is pledging £1 million to eight small social organisations to boost their work. The grants are intended to support promising new social business charity projects that are not yet ready to take on repayable finance from the bigger Big Society Capital bank.
The new ventures receiving grants include Reds10, a social business which supports disadvantaged people helping them to find jobs in the
construction industry.
Another example is the TLG education charity, a charity which develops alternative education opportunities for marginalised young
people.
The government says its Investment and Contract Readiness Fund has been a three year £10 million fund supporting social ventures to make them
more attractive for investment, and to help them compete for public service contracts.
The fund has offered social ventures grants between £50,000 and £150,000 to buy specialised investment and help them build up expertise...
Social ventures in the UK usually refers to social organisations that have an integral social purpose that want to be financially sustainable and can include registered charities, social enterprises, community and voluntary organisations, that also may or may not be funded by private donations as well
as private commercial investment and government support.
At Xperedon we report on all aspects of the social, voluntary, and charitable sector. You can also find out more at Giving News.