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Power to Change Guidance

A quick update for those of you who aim to grow your community businesses and to follow up on a post ( a few weeks ago) about the £10m fund.

Power to Change has now released the funding guidance to apply for the fund which will potentially provide up to 75% of the development costs with a ceiling application of £300,000.

Please note this is a fund that has strict criteria and is aiming to fund sustainable community business development so do check the criteria carefully. In previous rounds only 5% of applications were awarded and a very high proportion were not awarded based on the organisation not meeting the basic community business criteria.

You can download their guidance here http://www.thepowertochange.org.uk/wp-content/uploads/2016/04/Community-Business-Fund-applicant-guidance.pdf

 

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£10m fund to open in April

If you need £50,000 to £300,000 to support your community business to develop and grow then you’ll be pleased to know that the Power to Change £1om grant programme is opening a new funding round on 26th April 2016.

A few pointers:

Power to change is for community business rooted in the community with community ownership (check eligibility here) and in previous rounds it only funded 5% of applicants and more than two thirds of applications dd not meet their criteria. Funding will rarely exceed 75% of overall development costs.

Power to change is expecting this round will be highly competitive and is having further rounds in July and October. the fund expects to award relatively equal acorss each round.

Key dates to note:

  • 5 April: Full criteria will be published on the Power to Change Website the grants helpline will open to help you with your application and any questions you have about eligibility.
  • 19 April: They will host a free Q&A webinar about the programme.
  • 26 April – 1 June: First application window
  • July 2016: Second funding round opens
  • October 2016: Third funding round opens

To register your interest then click here

 

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£150m Endowed to Power to Change

Power to Change announced yesterday (22/01/2015) that is has now received £150m endowment from the Big Lottery to support the development and sustainability of community businesses.

The funding is endowed to the independent trust who will managed the funding. It’s early days yet so we do not have all the details on what or how the funding may work, but it is likely to be a mixture of loans and consultancy / development support.

At the moment the programme is looking for “Community Business Champions” to register their interest so if you are running a community business or considering setting one up do take a look at their website http://www.thepowertochange.org.uk/ we will keep an eye out and keep you posted here too!

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