15 April 2019
Power to Change Community Business Fund
Power to Change has published the guidelines for Round 7 of the Community Business Fund which will open to applications from community businesses in England on 24 April.
Power to Change, an independent charitable trust, is using a £150 million endowment from the Big Lottery Fund to support community businesses that are working to address a variety of social problems, from saving local shops to providing affordable housing.
There is around £10 million per year for 10 years with grants of between £50,000 and £300,000 available for eligible projects.
There will be approximately £3 million for Round 7. It is expected that around 17 community businesses will receive funding.
To be eligible, organisations must be incorporated, based in England, have at least one year of financial accounts and share the following four key features:
- Locally rooted – based in their community.
- Accountable to local community – accountable to local people.
- Trading for benefit of local community – profits must stay in the area.
- Broad community impact – benefit the community as a whole address and can clearly evidence the positive social impact on the broader community.
Projects must have a charitable purpose, meet charitable needs within the community and share one or more of the fund’s seven goals:
- Reduce social isolation.
- Improve health and wellbeing.
- Increase employability.
- Create better access to basic services.
- Improve local environment.
- Enable greater community cohesion.
- Foster greater community pride and empowerment.
The grants can be used for:
- Capital costs including building, vehicles, equipment of significant value, refurbishment costs.
- Project-specific revenue costs like staff costs, professional fees, volunteer costs.
Power to Change will fund up to 75% of revenue costs, up to 75% of the building related capital costs and 100% of other capital costs, such as the purchase of a vehicle.
Round 7 will open for applications on 24 April and close on 22 May 2019 (12 noon).
Interested organisations are encouraged to read the guidelines for round 7 which can be found on the Power to Change website and to attend the free webinar on 25 April (14:00 to 15:00). Registration is required.
Full details can be found on the Power to Change website