The Government has recently launched Big Society Capital to help finance social action in the UK. It will start with a fund of up to £600m that includes £400m from dormant bank accounts (about which I have reservations but that’s past) and up to £200m from the four main UK high street banks.
If you run a charity or social enterprise in the Wycombe constituency, if you are interested in attracting long term finance for your organisation and if you have a plan to repay it then please visit the website to learn more.
You will find a comprehensive directory of organisations that provide finance to charities and social enterprises. The purpose of Big Society Capital is to make it easier for these types of organisations to access the capital they need. It should be seen as a pillar of finance alongside philanthropy, one which I hope will wean charities off taxpayer funding.
The Government is also aware that many ambitious charities will need help to become a prime candidate for investment. That is why the Government have set up a £10m Investment and Contract Readiness Fund as a source of grants. Applications for this fund will be open from next month.
I hope charities and social enterprises in Wycombe will assess whether these programmes can help them build the Big Society which must succeed if we are to alleviate the widespread suffering and need which state welfare so chronically fails to address.