Power to Change is pleased to announce a significant new partnership with Social Investment Business.
From Spring 2020, Social Investment Business (SIB) will become Power to Change’s grant administrator for the Community Business Fund, Homes in Community Hands, Empowering Places, M&S Community Business Challenge and Sandbox Ideas programmes and for Research and Market Development grants.
SIB will work with Power to Change to develop and deliver future Community Business Fund rounds and we look forward to launching Round 9 in the autumn of 2020 with a further round planned in 2021.
SIB emerged successful from a competitive procurement exercise for this partnership work. They presented a strong understanding of the realities faced by community businesses and the communities in which they operate and close alignment with Power to Change’s mission and vision. They stood out in their level of experience of managing similar funds and programmes, and demonstrated their commitment of putting applicants and grantees at the heart of their approach.
Nick Temple, Chief Executive of SIB, said: “We are delighted to announce our partnership with Power to Change. The work that founded Social Investment Business 20 years ago was in providing finance and support to community businesses. This partnership gives us the opportunity to bring the knowledge and learning from that track record of investment, grants and programme management to support such organisations as effectively as we can: making finance fairer for the communities they serve. We look forward to working with Power to Change to create better places through community business.”
Power to Change thanks UMi Commercial Ltd for its valuable support and innovation in programme delivery and grants administration since February 2016. In that time, UMi has successfully administered more than 270 grants representing in excess of £38 million of Power to Change investment in community businesses across England and has played a key role in the launch and delivery of the Community Business Fund’s £29 million investment to date to support community businesses grow and become more sustainable.
Power to Change, SIB and UMi are working together to ensure that this transition does not disrupt our other partners and the community businesses we support. If these changes affect you, we will be in contact over the next few months to explain what changes you can expect, who to contact if you have any questions, and to introduce you to your new relationship manager if you have an ongoing grant on any of these programmes.
Power to Change is proud to provide funding and support to communities, accelerating the growth and impact of community businesses. Our partnership with SIB will enable us to continue to create better places through community business and ensure that communities are at the heart of all we do.