Enterprise Development Programme – Youth

Status: Open to applications

Application Deadline: 12 November 2020

Description

Support is available to charities and social enterprises working in the youth sector in England to make the transition to new enterprises or to grow existing ones.

Details

Maximum Value:£ 30,000

Value Notes

Individual packages of financial and business support are available for successful applicants. These could include any or all of the following:

• Grants of up to £30,000 to research or test out new ideas, to launch new enterprises or grow existing ones (grants are likely to be conditional on evidence of growing income streams, using methods such as MatchTrading).
• Joining a peer cohort to share enterprise journeys.
• Training and learning opportunities tailored to needs.
• Direct advice and support.

Extended Description

The Enterprise Development Programme is a five-year, £40 million initiative that is funded by Access – The Foundation for Social Investment and managed by a coalition of partners, including Social Investment Business (SIB) and the Centre for Youth Impact.

The programme aims to provide business and financial support to charities and social enterprises in England that are thinking of exploring new enterprise models and require financial or business support to make the transition, with the ultimate aim of taking on social investment in the future. The programme is open to organisations working across a range of sectors, which will vary as the programme runs its course.

Currently applications are invited from organisations working in the following sectors:

• Homelessness.
• Youth (covered in this entry).
• Mental health.
• Equality.

Further sectors will be added each year and the programme is expected to run until at least 2024.

Latest Information

The deadline for expressions of interest is 12 November 2020 (16:00), with full applications due by 26 November 2020.

Key Criteria

Applications are accepted from charities, voluntary sector organisations and social enterprises based in England and working in the youth sector.

Eligible applicants must:

• Have a stated mission to work with young people aged 10-19 (or 10-25 in certain circumstances) which must be explicitly stated in the organisation’s governing documents and/or mission statement.
• Be based in England with the majority of their beneficiaries also in England.
• Be able to demonstrate intent on behalf of their trustees and/or executive to pursue diversifying income through trading.
• Be able to commit to playing an active part in contributing to the learning and research aspects of the Programme.
• Be able to demonstrate that they are an eligible charity or social enterprise, ie:
  • Have a clear social mission.
  • Distribute less than 50% of post-tax profits and reinvest at least 51% of surpluses into pursuing their social mission.
  • Have a constitutional or contractual lock on their social mission, dividend and surplus distribution policy (also known as an asset lock).

For more details on this fund please click here Enterprise Development Programme