Deadline: 6-Jan-21
Power to Change has launched the Community Business Renewal Initiative, in response to the COVID-19 crisis and the £375,000 Community Business ReBoost fund is part of this support package for the community business sector.
ReBoost aims to support community businesses to raise community shares capital that can support their recovery, pivot or expand the business in response to Covid-19.
Funding Information
- The ReBoost fund provides grant funding and matched equity investment. ReBoost will support smaller, and quick interventions focused on raising working capital for community businesses via community shares offers between November 2020 and April 2021.
- Development grants – between £3-5k to prepare a recovery community share offer and be awarded the Community Shares Standard Mark Match equity investment – typically matching pound for pound up to £25,000 invested by the ReBoost fund.
Eligibility Criteria
To be considered for ReBoost investment, your organisation must be based in England and meet the following criteria:
- Community businesses are run by local people for local people. They can revive local assets, protect the services people rely on, and address local needs. There are many types of community business. What they all have in common is that they are inclusive and give decision making power to local people and that the profits they generate flow back into the community to deliver positive local impact.
- Power to Change will only fund incorporated organisations. This means that your organisation is recognised as a legal entity in its own right, rather than as a collection of individuals. To issue a community share offer, you will need to be incorporated as one of the following:
- Community benefit society;
- Co-operative society;
- Charitable community benefit society.
- If you are looking for support to convert to a society, please contact them to discuss your application. It may be that another Power to Change programme is more suitable to meet your needs.
For more information, visit https://www.powertochange.org.uk/get-support/programmes/community-business-reboost-fund/