Power to Change only funds community businesses. A community business is often set up to tackle a local issue that the community faces together. There are many types of community business. What they all have in common is that they are accountable to their local community and that the profits they generate flow back into the community to deliver positive local impact. 
Applicants must meet these four key features of a community business
Locally rooted - They are rooted in a particular geographical place and respond to its needs, for example high levels of urban deprivation or rural isolation.
Accountable to local community - They are accountable to local people. This can be demonstrated in many ways – but you must have evidence of regular community influence on your business.
Trading for benefit of local community - They are businesses. Their income comes from activities like renting out space in their buildings, trading as cafés or selling the produce they grow.
Broad community impact - They benefit the community as a whole and can clearly evidence the positive social impact on the broader community.
Project will only be funded that share one or more of the seven impact goals:
1. Reduce social isolation
2. Improve health and wellbeing
3. Increase employability
4. Create better access to basic services
5. Improve local environment
6. Enable greater community cohesion
7. Foster greater community pride and empowerment
You must have a charitable purpose at the heart of the project which meets charitable needs in your community. This does not mean that you have to be a charity.
For a project to be charitable, it needs to have both a charitable purpose and to be for the public benefit. Any private or personal benefit must be incidental and no more than a by-product of meeting your public benefit.
‘Business as usual' your application must demonstrate how the funding will help you to increase the social impact of your community business, and make it more viable
in the long-term by increasing traded income, securing an asset or reducing revenue costs.
Your organisation must have at least one year of accounts; this could be your management accounts or your annual accounts.
You must be ready to start work within six months of accepting your grant offer. Your project can last up to a maximum of three years in total.
Power to Change will not fund the full costs of your project. You should have other sources of funding either confirmed or close to confirmation to show that you are viable.
Grants of between £50,000 and £300,000 will be made.
Capital –two types of capital funding will be accepted::
- Building-related: purchasing, renovating or adapting. You can request up to a maximum of 75% of these costs
- Non-building related: purchasing other equipment and physical assets. You can request 100% of these costs.
Revenue – project specific revenue costs of running your business can be applied for. You can request up to 75% of the revenue costs associated with the project.
For further information and to apply, visit: www.thepowertochange.org.uk/funding/grants/%20community-business-fund/
Deadline: Wednesday 1 June 2016