The Power to Change is an independent charitable trust set up in January 2015. Over the next decade they will use £150 million provided by the Big Lottery Fund to support, develop and grow community business across England.
By the end of this year they aim to have provided £9 million of funding and support. The majority of this funding will be awarded through the Initial Grants Programme.
The Initial Grants Programme will see up to £9m of grants and a wide range of business support provided to around 70 organisations between May and December 2015.
The programme has one aim: To help new and existing community businesses that are in a position to make a step change in their journey towards long term sustainability within the next six months.
This is an important programme to the Power to Change, as what we learn from it will help us design future programmes that really work for community businesses.
The initial grants programme will provide selected organisations with funding towards:
• capital costs and/or
• revenue costs
Due to the scale, timing and aims of this programme, applications are only invited from community businesses/ projects that can fulfil the following criteria:
Criteria 1
You are currently trading and seeking to become more sustainable OR you are looking for final funds to allow you to start trading within six months of a Power to Change grant award
Criteria 2
Your organisation fits the definition of a ‘community business’
Power to Change define a ‘community business’ as organisations that are:
• controlled by the community
• place-based
• operated for the community’s social, economic or environmental benefit
• not operate solely for private benefit
Criteria 3
Your organisation has a draft business plan
Criteria 4
Leverage - you should be able to explain what additional resources your organisation already has in place – financial and/or in-kind - or will bring in, to work alongside a Power to Change grant
Criteria 5
All grants under the initial grants programme will be between £50,000 and £500,000.
Criteria 6
Your organisation must be able to explain its social impact with particular reference to its local community impact
The last date applications will be accepted is dependent on the volume of applications received, however it is likely to be around October 2015
For further information and to apply, visit: www.thepowertochange.org.uk/apply-igp/, or email: [email protected]