The Power to Change Initial Grants Programme (IGP) is designed to help existing community businesses that are in a position to significantly improve their long-term sustainability within six months of receiving a grant. This means that they are looking for applications from existing organisations, which already have business plans in place and are ready to start work quickly on their proposals.
By the end of this year, they aim to have provided £9 million of funding and support to up to 70 community businesses.
Capital funding can be requested for refurbishments, renovations, land purchase and building purchase. Revenue funding is available for:
• Developing new services which generate income and meet community-identified needs.
• Professional services, for example, architect's fees, advisory support.
• Staff costs restricted to the project, for example, to oversee new business development for a limited period.
Criteria 1
You are currently trading and seeking to become more sustainable OR
You are looking for final funds to allow you to start trading within six months of a Power to Change grant being awarded
Criteria 2
Your organisation fits the community business criteria:
• locally rooted
• community controlled
• trading
• operated for the benefit of the community
Criteria 3
Your organisation must have a draft business plan.
Criteria 4
Leverage: you should be able to say what additional resources your organisation already has in place (financial and/or in-kind), or will bring in, to work alongside a Power to Change grant.
Criteria 5
Grant requests must be between £50,000 and £500,000
Criteria 6
Social, economic and environmental impact: you must be able to explain how your proposal can demonstrate public benefit through the social, economic and environmental impact it will create
For further information and to apply, visit: www.thepowertochange.org.uk/initial-grants-programme/, or contact 020 7842 7788, or email: [email protected]
Deadline: Thursday 22 October 2015, 12noon