Community Business Bright Ideas Fund Opens for Final Round30-Nov-2017
Applicants are reminded that the final round is fast approaching for funding to provide business support and grants to not-for-profit organisations looking
to set up their own community business.
New guidance notes have been published for the £1.85 million fund; and My Community, the funding administrators, is advising that groups should refer to them before they start the application process.
There is one significant change to the eligibility criteria. Locality advises that to be eligible, and in the interest of making sure that only new groups are being considered: The community organisation applying must have been constituted for less than five years at the time of making an application.
This is also reflected in the level of funding available. Where before grants of up to £20,000 were available for established projects, because this round is focused on new groups, the funding now consists of:
Grants of between £1,000 and £10,000 for established ideas for a community business, but might need support to engage community, or to develop a proper organisational structure to take the idea forward.
Grants of between £1,000 and £15,000 for recently developed services or products that meet local needs, but might need support for feasibility testing or business planning ahead of the launch of the community business.
It is estimated that up to 20 projects will be funded, and they will join the 70 community businesses that have already received funding over the course of the two-year fund.
These include a community transport scheme to link isolated rural villages, giving elderly people more independence; an indoor skate park for a forgotten coastal community with few activities for young people and poor health; and a community food club tackling food poverty through pop ups.
The deadline for applications is 1 December 2017:
Although Locality have announced that there will be no further rounds within this existing programme, they have advised there will be other opportunities and similar schemes announced later in the season, advising coverage of other business funding opportunities would be available through the independent charitable trust Power to Change.