Power to Change, working alongside key partners, is supporting community businesses that have been affected by the Covid-19 crisis. ReBoost aims to support community businesses to raise community shares capital that can support their recovery, pivot or expand the business in response to Covid-19.
Power to Change has allocated £375,000 to support community businesses to raise capital via community shares. The ReBoost fund provides grant funding and matched equity investment.
To be considered for ReBoost investment, your organisation must be based in England and meet the following criteria:
- Power to Change only funds community businesses
- Community businesses are run by local people for local people. They can revive local assets, protect the services people rely on, and address local needs. There are many types of community business. What they all have in common is that they are inclusive and give decision making power to local people and that the profits they generate flow back into the community to deliver positive local impact.
Power to Change only supports existing community businesses through this scheme. To meet the definition of a community business, you must be locally rooted, accountable to the local community, trading for the benefit of the local community and have a broad community impact.
Power to Change will only fund incorporated organisations. This means that your organisation is recognised as a legal entity in its own right, rather than as a collection of individuals.
To issue a community share offer, you will need to be incorporated as one of the following:
- Community benefit society
- Co-operative society
- Charitable community benefit society
The Re-Boost fund provides grant funding and matched equity investment:
- Development grants – between £3,000 - £5,000 to prepare a recovery community share offer and be awarded the Community Shares Standard Mark
- Match equity investment – typically matching pound for pound up to £25,000 invested by the ReBoost fund
For more information and to apply click here
Deadline for applications: 8 September 2021