Member-only story
What funding is available for social enterprises?
Grants, loans and angel funds too.
As we know a social enterprise, by definition, should generate at least 50% of its income through trading. However just like any other company, it may take a while before it gets to this point, and therefore there are a number of ways that a social enterprise can sustain itself before hitting that goal.
Some are able to bootstrap or fund their own social enterprise until that moment, which definitely provides you with a unique story to tell, but let us look at one of the advantages of being a social enterprise — access to a range of funds.
Public funds
Due to the good that social enterprises mostly do, they can identify and often access a range of funds and tenders that usually non profits go for. These can come from local authorities, trusts and foundations, and usually come with a strict set of expectations and reporting guidelines.
They will be published to meet a certain need, and there will be a tender or application process where you will explain what you do and how you do it.
While the majority of these funds might fund only your social and environmental activities, it is up to you to be inventive in ensuring your social enterprise benefits from this funding…
