The Community Business Fund offers grants of between £50,000 and £300,000 to help existing locally based and community-led businesses in England to increase their social impact and make them more viable in the long term.
Projects and organisations must be incorporated, based in England and share the following four key features:
- 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 the organisation must have evidence of regular community influence on the business.
- Trading for benefit of local community - they are businesses and their income comes from activities like renting out space in their buildings, trading as cafes 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.
The grants can be used for the following:
- 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.
Deadline for Round 2 applications is 31 August 2016 (12pm). Round 3 opens October 2016.