1. Funding to support Investment Readiness Jeff Scales Development Manager

2. Effective leadership & management Clear business proposition Good financial management Clear purpose and community / customer engagement Investment Readiness - The Essentials

3. I S K

4. Risk of the organisation / project / venture/contract succeeding and within the risk and return levels that funders, finance providers and commissioners are prepared to accept. “Beauty is in the eye of the beholder” so different funders will take very different views on whether an organisation is investment ready for them, although there are some core essentials. Risk

5. Characteristics of a successful Social Enterprise Clear and viable organisational strategy Effective accounting systems and financial management Strong and effective (entrepreneurial) management and leadership team Track record of performance and sector expertise Clear business objectives and viable financial plan Strong governance framework Confidence and support from Stakeholders & well networked Good cashflow and cashflow management Maintain focus on organisational objectives Understanding of costs and pricing Strong and effective board Innovative and solution orientated

6. Investogram – Typical Community Organisation

7. Investment and Contract Readiness Fund

8. Minister for Civil Society Nick Hurd said: "We want to make it easier for charities and social enterprises to access capital. This fund is for ambitious organisations who want to access social finance but know they are not yet investment ready. It allows them to get the support they need."

9. Investment and Contract Readiness Fund £10m grant over 3 years (OCS money & SIB managed) Grant between £50k & £150k For ‘high growth’ To deliver contracts (£1m+) / receive returnable investment (£500k+) 130 awards over fund lifetime Locality is one of 22 (approx) support providers Providers develop bids with applicants www.beinvestmentready.org.uk

10. Tips for success Prepare a decent pitch to support providers Be specific about what your aiming for (e.g. the enterprise needing £500k investment for / the contract opportunity worth over £1m) Be clear about your capacity building needs For investment –business model needs to be able to service at least a £500k ‘returnable investment’ For contract readiness – substantial track record is important Take your time – this is a three year programme and providers won’t take forward weak ones (because of the work and risk involved)

11. AND IF ICRF ISN’T FOR YOU…

12. Social Incubator Fund …will significantly increase the number and quality of early stage social ventures (Nick Hurd) £10 million (OCS)/ Big Lottery Managed 3 years (up to 2014) Intensive support for social enterprise start ups /early stage Delivered through ‘Social Enterprise Incubators’ (combination of support and investment [matched by SEIs]) Deadline for Social Incubators is 21st Sept Providing pipeline to ICRF and Big Society Capital Grants for social ventures awarded in Jan 2013 (1 st round)

13. Community Right to Challenge Support Programme £11.5m over 3 years (£10.5m ‘resources’ / £1m capital) Grants Scheme (pre feasibility up to £10k, feasibility up to £100k + Investment capital grant up to £100k) SIB managed Helpline + Support provided by Locality Linked to the ‘right’ and general procurement support http://mycommunityrights.org.uk/community-right-to- challenge/grants/http://mycommunityrights.org.uk/community-right-to- challenge/grants/

14. Community Right to Bid Support Programme £19m over 3 years (£9m capital) Grants Scheme (pre feasibility up to £10k, feasibility up to £100k + Investment capital grant [threshold to be confirmed]) Helpline + Support provided by Locality Linked to the ‘right’ and asset transfer Managed by SIB http://mycommunityrights.org.uk/community- right-to-bid/grants/http://mycommunityrights.org.uk/community- right-to-bid/grants/

15. And School for Social Entrepreneurs http://www.the-sse.org http://www.the-sse.org Unltd Big Venture Challenge http://unltd.org.uk/bvc/http://unltd.org.uk/bvc/ Mutuals support programme http://mutuals.cabinetoffice.gov.uk/further- information-mutuals-support-programmehttp://mutuals.cabinetoffice.gov.uk/further- information-mutuals-support-programme Outcomes Fund www.gov.uk/social-impact-bondswww.gov.uk/social-impact-bonds

16. Questions ? ? ? ? ? ? ? ? ?

17. Contact Jeff Scales Development Manager (Northwest) t: 01254 889925 m: 07912 269668 e: jeff.scales@locality.org.ukjeff.scales@locality.org.uk Website: www.locality.org.ukwww.locality.org.uk