The Social Enterprise Support Fund provides essential financial support to help social enterprises in England to rebuild and grow their income from trading, following the impact of COVID-19.
The Social Enterprise Support Fund is focused on social enterprises supporting people facing increased social and economic challenges as a result of COVID-19. We will support them in evolving and growing sustainable community services, in the face of ongoing disruption from COVID-19.
Who can apply?
The fund is only available to you if the majority of the people and/or organisations you support through your social enterprise live and/or are based in England.
At least one year old
Your social enterprise must have been incorporated for at least 12 months (i.e. registered with Companies House, the Financial Conduct Authority (FCA) or the Charity Commission).
An incorporated social purpose organisation with an asset lock
Your social enterprise must be incorporated. It may be a charitable company, a charitable incorporated organisation (CIO), a Community Interest Company (CIC) or a Community Benefit Society (CBS/Registered Society).
It may also be a company limited by guarantee (CLG), a company limited by shares (CLS), a co-operative society, or other registered society, if, within its governing document, it has:
a clear social purpose, such as an Objects or Social Purpose clause
a restriction on distribution of profits, to the extent that at least 51% of surpluses are reinvested for its social purpose
an ‘asset lock‘, which is a restriction on the distribution of assets
Annual income between £20,000 and £1.8 million
This is your income, either in your last financial year or the previous financial year (pre-COVID-19). (Please note that loans, including COVID-19 related loans, do not count as income.) In exceptional circumstances, we may consider organisations that have recently started and have had £20,000 income in the last 12 months (rather than the last financial year).
Substantially reliant on income from trading
Your social enterprise must be substantially reliant on income from trading to deliver social impact. By ‘income from trading’, we mean both sales of goods and/or services and delivery of contracts to supply goods or services. We will prioritise social enterprises where income has previously come mostly through trading, and which need support to rebuild trading income to enable you to deliver your social impact.
We must be confident that with our support, your social enterprise will survive at least the next 12 months. If you have a negative balance on your balance sheet, or significant debts, you will need to explain how you will continue to trade.
Dual authority bank account
This means that at least two unrelated people are required to release payments. You don’t have to have this now, but must have this in place before receiving the grant.
You can apply for grants from £10,000 to £100,000. Most grants will be between £10,000 and £50,000.
Click here for an online application form available from Thursday 25 November.
Please also be ready to attach the required documents:
- Your most recent annual accounts; your last two statutory accounts before COVID-19 – required
- Management accounts for the period up to at least September 30, 2021 (unless your statutory accounts cover this period) - required
- A cashflow statement – only required for applications over £50,000; otherwise, include if available
The following documents are not required, but we encourage you to include them if you have them, to help us assess your application:
- A recent social impact report or short case study about your work
The portal will be open for applications on these dates:
Round 1: 1pm on Thursday 25 November 2021, to 1pm on Tuesday 21 December 2021
Round 2: 1pm on Monday 28 February 2022, to 1pm on Thursday 24 March 2022
Any queries received about the fund should be addressed directly to the partners or to firstname.lastname@example.org.
Website address: https://socialenterprisesupportfund.org.uk/