Charities and social enterprises looking for investment will be able to look to the Plymouth City Council for help to become investment ready.
The Council has been approved as an ‘access point’ for the Reach fund, a £4m investment readiness grant programme, funded by Access, the Foundation for Social Investment and managed by Social Investment Business.
The Reach Fund offers small grants to charities and social enterprises who are looking to raise investment. As social investor approved by the fund, the Council can help them close a deal or secure an investment.
The Council will provide referrals for charities and social enterprises to the programme for access to grants to help them become investment ready. This could, for instance, entail specialist business development work.
Councillor Dave Downie, Cabinet Member for Safer and Stronger Communities said: “Since being designated a Social Enterprise City in 2013, Plymouth has driven the social enterprise sector forward and has shown ongoing commitment to the businesses and organisations in the city.
“We have over 150 social enterprises are located in the city, employing over 7,000 people. Through this fund, we hope to support more Plymouth charities and social enterprises to succeed in gaining investment.”
Plymouth-based charities and social enterprises interested in learning more about the programme can contact Jane Hunt on 01752 398048 or firstname.lastname@example.org.
The Reach Fund is a two year £4m investment readiness grant programme, funded by the Access – The Foundation for Social Investment and managed by Social Investment Business. It will test a new model of investment readiness support to help charities and social enterprises raise investment.