1. Funding a social enterprise Kate Newton, St Albans CVS

2. In your pack Handouts of these slides Crowd-funding guide Sources of funding, from the Social Enterprise UK website St Albans Community Grants guidance One pager with: Impact / income matrix Inputs / outputs / outcomes / impact explained

3. There is a spectrum of funding. A mix of sources is more sustainable. More charitableMore commercial GiftedGrantedContractedTraded One off donations Fundraising Regular donors Sponsored activities Legacy Institutional grants Funding applications Competitions Local charities Community foundations Services level agreements Commissions Payment by results Local authorities Public sector Direct sales Open market B2B / B2C Products and services

4. Gifted income. Who might donate to your social enterprise? How will you ask them? What will you ask for donations for? Specific projects do better than core costs. Have you considered crowd-funding? Make your fundraising fit with your enterprise; e.g. a bike repair workshop might plan a sponsored bike ride, a community café might do an afternoon tea event.

5. Granted income. There are some specialist grant givers for social enterprises – see handout – e.g. UnLtd. There are hundreds of general grant givers, some of which will consider social enterprises – for example Awards for All and St Albans Community Grants. You can research them online (try www.fundingcentral.org.uk/) or become a member of the St Albans CVS (£50) and access support plus a comprehensive searchable funding database. www.fundingcentral.org.uk/

6. Granted income: what are funders looking for? As a general rule, grant-givers want; Projects which meet their criteria, which they publish; there is no point applying if you don’t. Time-limited projects, not ongoing costs. Projects with a clear, measurable impact. Projects which are viable at the end of the grant period. Projects with good governance and clear financial controls.

7. Granted income: How to apply Like applying for a job; Research the grants you are eligible for; then prioritise them and diarise the deadlines. Read the criteria & questions carefully before starting; note down key points to make. Answer the questions clearly and succinctly. Make it clear how your project will tackle the problem it aims to solve; both the outputs and the outcomes. Be realistic. Use their language and meet their deadlines.

8. Granted income example 1: DO IT FOR REAL TRY ITDO ITGROW IT Up to £500 Support, resources and knowledge for young social entrepreneurs aged 11-30 Up to £500 To test an idea To develop confidence and entrepreneurial skills Given to individuals only, companies and organisations do not qualify Up to £5,000 Grant + support + advice For exceptional people to start their journeys, building entrepreneurial skill and capacity Given to individuals only (not organisations). Highly competitive; 1000s of applications per year Up to £15,000 For existing ventures ambitious and ready to grow, to local, regional or national scale Venture less than 5 years old, and creating an income for at least 1 employee Proven track record of providing social impact Clear and sustainable business plan and financial forecasts. https://unltd.org.uk/ expression-of- interest/ Apply as for “Do It” but state on the form it’s for “Try It” https://awards.unltd.org.uk/ Next round: expression of interest by 11 Aug, apply by 8 Sep, decision 31 Oct https://awards.unltd.org.uk/ Next round: expression of interest by 12 Sep, apply by 22 Sep, decision 28 Nov

9. Granted income example 2:Awards for All “A quick and easy way to get small Lottery grants of between £300 and £10,000” Good success rate, 1 in 2. Simple application form. Rolling applications, no deadline. Funding a project not an organisation; project must not have started before the grant, and must be completed within 12 months of receiving it. Must have a bank account, 2 cheque signatories, & have at least 3 directors.

10. Granted income example 3: Funding between £500-£5000 for projects in St Albans City & District that meet at least 2 of the 5 specified criteria; see handout Good success rate, 1 in 3. Simple application form. Deadline 5pm Friday 27th May 2016. Again, funding a project not an organisation. Must be a “constituted group”; typically a charity, community group, or CIC. Social enterprises are eligible.

11. Contracted income Contracts are generally for larger, more established social enterprises. Tenders take time to write; procurement processes can be onerous & time consuming. Partnerships are key to voluntary sector tenders. Training in writing tenders is vital. Try: https://knowhownonprofit.org/studyzone/preparing -successful-bids-and-tenders-for-the-public-sector https://knowhownonprofit.org/studyzone/preparing -successful-bids-and-tenders-for-the-public-sector Research the market thoroughly. Build a credible website. Network and attend industry events Ensure that your business is compliant with regulations such as public liability insurance.

12. Contracted income – Hertfordshire contracts Herts County Council has an electronic system called In-tend. Current examples are; Reducing Social Isolation for Older People and their Carers ParksHerts - encourage local residents to increase their usage of Hertfordshire’s Parks and Open Spaces The Provision of an Adult Abstinence Based Co- Addiction Service. Register at https://in- tendhost.co.uk/supplyhertfordshire/aspx/Homehttps://in- tendhost.co.uk/supplyhertfordshire/aspx/Home

13. Traded income Money that you make by selling products / services to paying customers, or by charging for the activities you run; Market research is critical here. Who will be your customers? How do you know that they want your product / service? What would they be willing to pay for it? Who will be your competitors? How much are they charging?

14. Stop and think about your idea …. Where will your income come from? More charitableMore commercial GiftedGrantedContractedTraded One off donations Fundraising Regular donors Sponsored activities Legacy Institutional grants Funding applications Competitions Local charities Community foundations Services level agreements Commissions Payment by results Local authorities Public sector Direct sales Open market B2B / B2C Products and services