Power to Change and Co-operatives UK, supported by the Mayor of London, has launched a new funding pilot designed to boost the capital’s high streets and civic centres, by growing London’s social economy and community business sector.
What is the Boosting Community Business London programme?
Boosting Community Business London is aimed at supporting existing community organisations to become community businesses, supporting grassroots innovation across the capital. The programme is designed to equip both nascent and existing community organisations with the knowledge to refine their business and governance models, and take the next steps in successfully raising alternative finance, such as community shares.
What can you apply for?
Boosting Community Business London programme has funding for London-based community organisations (Track 1)
AND existing London-based community businesses (Track 2).
Track 1: London-based community organisations can apply for up to 8 days worth of development support, up to a value of £4,000, including specialist expertise to develop a business plan, governance structure and more, to transfer their operations to a community business model.
Track 2: Select participants, and existing community businesses who plan on developing Community Share offers, a form of equity investment, can apply for development grants of up to £10,000 to cover costs associated with the Standard Mark assessment and promotional spend for the share offer campaign itself.
How can I apply?
Track 1: For community organisations, looking to apply for Boosting Community Business London the programme is open for applications and the deadline has been extended until Friday 12 March.
Track 2: For community businesses based in London, the programme opens for applications on Friday 2 April and closes on Monday 12 April.
Where can I find out more?
You can find out more, including whether you are eligible to apply to Boosting Community Business London by reading the guidance notes.
Watch our introductory webinar ‘Welcome to community business’ here:
If you’d like to know more about ‘What makes a successful community business’ watch our webinar below: