The Community Business Bright Ideas Fund is funded by Power to Change, the independent trust supporting community businesses in England, and delivered by Locality, the national network for community organisations.
Power to Change has committed a further £3 million to support 150 community business ideas over the next three years (2019-2021).
The fund aims to give community groups the support and tools to start setting up their community business. It will also give groups the early stage finance that is needed to carry out consultation with local people and feasibility studies to develop a community business idea the community wants and needs.
Successful organisations will receive:
- Business development support – up to 12 days of business development support from Locality, Plunkett Foundation, or Co-operatives UK.
- Grant funding - the opportunity to apply for a grant of up to £15,000, which can be spent on specific activities to develop the community business idea.
- Learning and peer networking – access to online resources, thematic webinars and the opportunity to visit and learn from existing community businesses.
The following is an indication of the range of grants available at different stages of development:
- Ideas stage – grants of between £1,000 and £10,000.
- Pre-venture stage – grants of between £1,000 and £15,000.
There is particular interest in Bradford, Grimsby, Hartlepool, Leicester, Luton, Plymouth, Wigan, Liverpool City Region, Suffolk and West of England Combined Authorities.
A webinar will be held on 13 March 2019 (11am to 12pm). Registration is required and can be done through the funder’s website.
Two funding rounds are planned for 2019.
The deadline for applications to round one is 9 April 2019.