Power to Change has launched the Community Business Renewal Initiative, a package of support for community businesses, in response to the COVID-19 crisis.
Community Business Renewal Fund
The Community Business Renewal Fund provides grants to community businesses in England affected by the Covid-19 crisis to adapt, renew and rebuild their business so they can remain financially viable. The fund is aimed at organisations delivering services in their local community to support those who have been most affected by the Covid-19 crisis. The Renewal Fund opens for applications in January 2021.
We know that each community business is different, and will need a variety of support to rebuild and renew. After an informal session with a link worker, your community business will receive a tailored support package to increase your knowledge, assist with your wellbeing and equip you with the skills to boost your community business. Activities may include: peer-to-peer support, access to technical support and resources such as HR and digital, wellbeing support, depending on your needs. Powering Up opens for applications on Monday 16 November.
Community Business Reboost Fund
The Community Business Reboost Fund provides grant funding to support the development of a community share offer and achieve the standard mark, as well as match equity investment. The investments will be up to £25,000 of match funding, providing that the minimum share target is achieved. ReBoost Fund is designed to support community businesses to launch their first community share offer and is run by Power to Change in partnership with Cooperatives UK. ReBoost Fund is now open for applications.
Community Business Crowdmatch
Community Business Crowdmatch helps communities to develop, test or grow your community business. The fund is designed to help you raise funds to cover key costs, help you build your network of supporters and provide match funding. Working with Crowdfunder, Power to Change will offer an investment, up to £10,000, to match the amount raised by your supporters. Crowdmatch opens for applications on Tuesday 17 November.
Community Business Mutual Aid
The Community Business Mutual Aid group was created in response to Covid-19, and exists to provide practical peer support, solidarity and inspiration to all members. There are regular newsletters, monthly Zoom meetings and the opportunity to share your practical and inspirational stories with the community business sector. Funded by Power to Change, the Mutual Aid group was set up by Practical Governance.
Community asset protection
Working with our partners, Cooperatives UK, Plunkett Foundation and Locality, we have identified organisations running community-owned assets that have been most affected by the Covid-19 crisis. For eligible organisations, we will be providing tailored information, advice and guidance to support community businesses to protect their assets.
Making the case for community businesses
Power to Change continue to make the case for community businesses playing a crucial role in the economic and social recovery of the country. To do this, we need your help – if you have a great story that demonstrates the impact your community business has had on the recovery of your local area, please share it with us by emailing: email@example.com
Resources for renewal
We are committed to supporting the community business sector to get back on its feet and adapt to this difficult and ever-changing landscape. Here we are signposting to handpicked resources which may be relevant for community businesses.