New support offered to charities and social entrepreneurs
Social Investment Scotland (SIS), a leading lender to the third sector, has launched a new challenge for charities looking to take their organisation to the next level.
The Growth and Replication Challenge provides a unique combination of investment support, access to expertise and funding packages that will help organisations wishing to grow.
Business support resources will be made available to successful applicants worth up to £10,000, in addition to tailored financial packages of between £100,000 and £1 million.
The additional business support will include advice and consultancy from SIS’s own team of investment advisers, working alongside external professional advisers, to deliver guidance on a number of critical business functions including governance, business planning, product design, financial forecasting, sales and marketing and social impact reporting.
Interested applicants are invited to complete and return an expression of interest by midnight on 3 April, outlining information about their organisation, their idea for growth or replication and the likely investment and support required to make that happen.
Shortlisted organisations will be contacted by 7 Apri, and selected organisations will then be triaged for support needs and budget allocations.
Roger Moors, chief development officer of SIS, said: “The Growth and Replication Challenge has been developed to meet a demand within Scotland’s third sector to take their organisations on to the next level.
“Many successful social enterprise and charities have ambitions to grow or replicate their models in other communities across Scotland. However, until now, there just hasn’t been the right sort of support to make that happen.
“Through the challenge, successful applicants will benefit from a tailored support package which has been developed to meet the three key ingredients of growth; nurturing people with ideas and talent, providing the right kind of finance, backed up by the right professional support to make it happen.
“We’d encourage any social entrepreneurs or senior charity professionals with ambitions for growth to register their interest.”