Deadline: 8-Sep-21
The Power to Change has launched its Community Business ReBoost Fund to support community businesses to raise community shares capital that can support their recovery, pivot or expand the business in response to Covid-19.
The fund is run in partnership with the Community Shares Unit (CSU), a joint initiative between Co-operatives UK and Locality. Established in 2012, CSU’s objective is to support community businesses, promote good practice and raise awareness of community shares as a sustainable funding mechanism for community businesses
Funding Information
- 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. The Re-Boost fund provides grant funding and matched equity investment:
- 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.
- Faced with a crisis, such as Covid-19, or some other major financial challenge, existing members of the business can protect their investment by investing more, as long as the business has a realistic plan for recovery and renewal. 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.
Eligibility Criteria
To be considered for ReBoost investment, your organisation must be based in England and meet the following criteria:
- Power to Change only funds community businesses
- Be registered as a society
- Charitable purpose
- Public benefit
- Solvent community business
- Impacted by Covid-19
For more information, visit https://www.powertochange.org.uk/our-work/our-programmes/community-business-reboost/