Big Society Capital launched a range of initiatives earlier this year to support community lenders to reach more underserved small enterprises in disadvantaged areas across the UK – these initiatives included the provision of socially motivated capital, building evidence, and convening stakeholders. This blog is the first in a series of updates on the progress made to date.
James Burrows, Investment Director at Big Society Capital, gives an overview of how we are approaching our work in supporting communities across the UK, seeking to learn from the work of others over many years. This is the first in a series of posts seeking to share lessons and insights from our own work in this area as well as others – partners and colleagues. For more on what we are up to in this strand of our work please see our website, with more updates to come.
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.
HM Treasury recently announced that from 30th November this year, it will remove tax reliefs of 30% or more for community energy projects. This means they will no longer be eligible for Social Investment Tax Relief (SITR) as well as Enterprise Investment Scheme (EIS) and Seed Enterprise Investment Scheme (SEIS).
Southmead is an out of town estate, a few miles from the centre of Bristol. It’s a great place with a real buzz and lots of positives, but it also has its challenges. Southmead has the lowest life expectancy in Bristol, more than 9 years lower than the neighbouring ward of Henleaze, and we’re involved in many projects to try and address that. We want to improve people’s wellbeing and hopefully have an impact on their life expectancy.
Pure Leapfrog and Big Society Capital have entered into an agreement under which Big Society Capital will lend £15 million to Leapfrog Bridge Finance Ltd, to fund large-scale community energy projects across the UK.
NCVO recently organised a series of social investment workshops supported by the Cabinet Office for charities and social enterprises.These sessions, held in Exeter, Ipswich, Leicester and London, aimed to raise awareness of the different models of social investment that are available.
On 18th March, Social Enterprise Yorkshire and Humber held their annual Working Capital Conference bringing together some of the leading experts in social investment with local social enterprises to learn more about emerging products and models. This year’s conference was befittingly held at Unity Works, a major events venue in the 80s which itself has been refurbished through social investment after receiving a capital grant as part of the Community Assets and Services Fund.
Last week, Big Society Capital attended the 2015 Community Development Finance Association (CDFA) Conference which gathered a wide range of experts to discuss if a values based economy offers the only sustainable route to growth. Our Development Director, Danyal Sattar, shares his thoughts on the discussions brought up on the day.