Stuart Anderson MP is calling on local entrepreneurs to apply grants of up to £10,000 to help them kickstart their social enterprise. It is part of the Government’s Social Enterprise Boost Fund, delivered in six areas - including Wolverhampton. Start-up social enterprises or entrepreneurs who have been registered for less than 5 years are eligible to apply.
An independent study commissioned by the Government found there are an estimated 250,000 VCSEs active in the UK. The fund targets support for social enterprises in disadvantaged places, with successful applicants receiving capacity-building support such as training, peer learning, and networking. By March 2025, it aims to grow the social enterprise sector in targeted areas, by supporting the creation of new social enterprises and boosting early stage organisations.
Charities and community organisations are also being encouraged to apply for targeted support available through the £70 million Community Organisations Cost of Living Fund. Applications will be accepted until 16 October 2023. Further details on eligibility and the applications process can be found on The National Lottery Community Fund website, in their role as the intermediary grant maker.
The Government is also supporting start-up social enterprises through access to finance, including £485 million of dormant assets funding that has been allocated to social investment, supporting thousands of charities and social enterprises across England. It is also increasing participation in delivering public services through the £900,000 VCSE Contract Readiness Fund announced in September. Support for start-ups also including the government backed Start Up Loans Company that provides loans of up to £25,000 per director to support entrepreneurs to start and grow a business. To find out more regarding the support available, visit www.gov.uk/guidance/social-enterprise-boost-fund-local-areas-of-delivery.
Stuart Anderson MP said: “Rooted as they are in the communities they serve, social enterprises play an integral role in the delivery of public services while driving economic growth across the country. As we committed to in the Levelling Up White Paper last year, we want to encourage social organisations and entrepreneurship to flourish in left-behind places across the UK - encouraging the next generation of social entrepreneurs. That’s why I am delighted that the Government’s Social Enterprise Boost Fund is being launched in Wolverhampton and call on entrepreneurs to find out about the support available, including the grants of up to £10,000 to help them kickstart their social enterprise.”