At some point in 2015 I started thinking that if I didn’t get to grips with understanding social finance I’d probably be a bit of a dinosaur. In a world where money for preventive services is only likely to continue shrinking, any new avenues were worth knowing more about.
Last week saw the relaunch of Key Fund – a social investment intermediary originally based in Yorkshire – offering loans and grant/loan packages to help community and social enterprises start-up, grow and/or become more sustainable.
The Commissioning Better Outcomes Fund evaluation is following 10 SIBs part-funded by the fund over their lifetime. One of them is the Worcestershire Reconnections SIB and the first report about the SIB was launched last week.
Core Assets is a fostering and children’s services group based in Bromsgrove. As it reaches the milestone of young people in care now ‘graduating’ from the Social Impact Bond contract it delivers for Birmingham City Council, co-founder Jan Rees OBE reflects on the necessity to continually challenge the system to change vulnerable young people’s lives for the better.
Worcestershire County Council and Worcestershire’s three Clinical Commissioning Groups (CCGs) have awarded the country’s first Social Impact Bond to help 3000 older people overcome loneliness in the county - to Reconnections Ltd.
Big Society Capital has hired former Chief Executive of Social Enterprise West Midlands (SEWM) CIC, Melanie Mills, to build relationships with social enterprises, charities and community organisations across the UK regions.
Developing Empowering Resources in Communities (DERiC) and Big Society Capital (BSC), the social investment bank, today announced the launch of an innovative programme to utilise personal care budgets which will greatly improve existing service levels for people with social care needs through community engagement.