Over 30,000 social enterprises and charities could benefit from Social Investment Tax Relief (SITR), suggesting vast untapped potential, according to research undertaken by Big Society Capital, and backed by the Department for Culture, Media and Sport.
The Government’s call for evidence on Social Investment Tax Relief (SITR) will close one week from today. With grant funding becoming a scarce resource and the demand for small amounts of patient, unsecured capital growing SITR is more important than ever.
Big Society Capital has released its latest Annual Review covering the year 2018, revealing £90 million of new commitments were made over the year. Alongside other investors, the organisation has also made £1.7 billion available for social enterprises and charities as they tackle some of the toughest social issues faced by people in the UK.
Big Society Capital, together with Access – The Foundation for Social Investment (Access), has launched a new social investment programme called Local Access. This programme will provide a blend of grant and repayable investment worth at least £33m across five places in England.
Big Society Capital today (Wednesday), welcomes the Global Impact Investing Network’s (GIIN) core characteristics of impact investing. The characteristics were released at the Impact Summit Europe, following a consultation period with global leaders on impact investing.