In the wake of so much negative press around tax dodges, how delightful to see this week’s announcement from South Bristol Sports Centre on the launch of their £1million sports scheme, £250k of which was raised using Social Investment Tax Relief.
This has financed the launch of their Fives Soccer Centre which includes six state of the art five-a-side all weather sports pitches.
With such an excellent local facility, I am looking forward to seeing the next wave of the England youth team (all from Bristol of course!) Joking aside, in a word of such economic austerity, how refreshing to see that there are funds and individual investors willing to support health, sport, leisure and wellbeing.
South Bristol Sports Centre have worked with newly established social finance intermediary Bristol and Bath Regional Capital and have received investment from Resonance’s Bristol SITR Fund.
Daniel Brewer, Managing Director of Resonance said “We’re delighted to be able to support South Bristol Sports Centre, a charity using the power of sport to break down community barriers and offer young people life changing opportunities. This is exactly the kind of strong social enterprise which the Fund was established to back. Behind the Fund’s investment stand dozens of individual investors who are either local to Bristol or simply want to use their investment capital to back good business models being used to intentionally achieve social impact.”
It is the latter part of the quote that really resonates. SITR gives ordinary individual investors like you and me the opportunity to invest into eligible social enterprises and charities and to offset some of the risk of investment. More people taking part in social investment is definitely one of my personal passions and hopes for the future.
But if there really is a fundamental point about social investment and SITR, it is never forgetting that it is just another tool in creating, scaling and sustaining impact, a point perfectly made by Billy, 23:
“South Bristol Sports Centre has helped me use football to get away from my troubled background and get back in a classroom - a place I hated. I’ve now completed a number of FA coaching qualifications and have become a professional coach. I pride myself in being able to inspire children and build relationships to help them develop - not only in sport, but as people – and I specialise in working with the ‘hard to reach children’, as I have been there and can relate. I’m now also supporting SBSC’s new “FutureFIVES” programme, a Youth Council giving young people a voice to design and deliver their own sessions on brand new football pitches. Then we can find out what they are really interested in and support their development through that - which is what got me to where I am today.”
So deal 12! More good news about SITR, what more can you ask for on a Friday afternoon!