Social Investment Business announce new grants
The Social Investment Business has announced two new grants as part of the Social Enterprise Investment Fund, managed on behalf of the Department of Health by the organisation in collaboration with Partnerships UK. The new grants - Start Up Grants and Growth Grants - are available to social enterprises that are involved in the delivery of health and social care services.
The Start Up Grants are open to those considering setting up a social enterprise in the health and social care sector and established social enterprises that have been trading for less than 12 months. Grants of up to £50,000 are available and can be used for the following:
- Concept or product testing and development
- Capacity building (appropriate structuring, training, recruitment, salaries, legal advice, premises, costs and IT)
- Tendering costs
- Other costs associated with starting up a social enterprise in the health and social care sector
Growth Grants of up £200,000 are available to social enterprises that have been trading within the health and social care sector for 12 months or more and and wish to expand their services. The grants can be used for:
- Expanding services
- Capital funding (e.g. equipment, buildings)
- Securing further contracts
- Increasing income streams (e.g. increasing staff, cashflow)
- Tendering costs
- Product development
For more information and to download an application form please visit the Social Investment Business website.
The application deadline is 15 January 2010. However, grants are awarded on a rolling basis and as there is only a limited amount of money available it is recommended that applications are submitted as early as possible.