Social entrepreneurs will have the chance to get their businesses off the ground with the help of a new scheme, which aims to provide them with funding and support from businesses in Sussex.
The scheme, (announced January 2014), is led by Legal and General, the Charities Aid Foundation (CAF) and uses a government-backed initiative, Social Enterprise Assist, (SE-Assist). They will work with local established businesses, to support to a number of social enterprises that meet the scheme’s criteria.
Social entrepreneurs are offered a unique package of interest free loans of up to £10,000, as well as mentoring and access to investors networks to receive expert consultancy, to help them get their businesses off the ground. The scheme has the potential to deliver millions of pounds of investment, to a wide range of social entrepreneurs, many of who are currently struggling to raise funding. The aim is to eventually roll the scheme out nationally.
Social Enterprise Assist, who will manage the scheme, has already helped four social enterprises last year, when the scheme was piloted in Sussex in 2013. One of the social enterprises that benefited from the pilot is the ethical supermarket, HiSBe which opened its doors in Brighton last month. Plus, Parentskool and Little Green Pigs, also based in Sussex.
The scheme will initially launch in two locations, re-launch in Sussex where the programme was piloted last year and also in Croydon, after gaining the backing of Croydon Council. Applications from social entrepreneurs will open in March.
For more details of how this scheme can help you and the economy in East Sussex take a look on the website https://se-assist.co.uk/