Big Lottery Fund
Printable version E-mail this to a friend

Big Lottery Fund launches £10 million fund to get sector investment ready

The Big Lottery Fund yesterday announced the launch of Big Potential, a £10 million fund to help charities and social enterprises get investment ready. The ultimate aim of the fund is to improve the sustainability, capacity and scale of VCSE organisations so they can deliver greater social impact.

The Big Lottery Fund has chosen the Social Investment Business in partnership with Charity Bank, Social Enterprise UK, Locality and the University of Northampton to deliver the much needed support to the VCSE sector.

The programme is aimed at VCSE organisations at the beginning of their social investment journey and has been designed to complement a range of other initiatives including the Cabinet Office’s Investment and Contract Readiness Fund, also managed by the Social Investment Business.

Eligible VCSE organisations will be able to access specialist one to one support from the Big Potential programme partners before making an application for grants between £25,000 and £75,000 to undertake more in-depth investment readiness work with one of Big Potential’s approved providers.

Providers of specialist investment readiness support can now apply to become an approved provider. Voluntary, community and social enterprise organisations can now register interest in the fund and will be able to apply for funding from next month. More information about the fund can be found by visiting www.sibgroup.org.uk/bigpotentialGoes to different website

Nat Sloane, Big Lottery Fund England Chair said: “Providing support for charities and social enterprises to help them access finance is a key priority of our social investment strategy in England and very important in these difficult times. With this appointment we are glad to be in a position to offer support to VCSE organisations, that want to scale up and become more sustainable so they can better serve those most in need.

“The Social Investment Business have a proven track record of supporting VCSE organisations, via their general investment work and more recently in the delivery of the Investment and Contract Readiness Fund.  Along with their Partners, they offer true national reach and further, they all understand both the challenges facing the sector and also what investors are looking for in propositions and so we are delighted to be working with them in delivering Big Potential.”      

Jonathan Jenkins, Chief Executive of the Social Investment Business, said: “I am delighted that, through working with the Big Lottery Fund and our partners, the Social Investment Business will be able to expand our work in helping the sector to become investment ready.

“We have seen the impact that this combination of financial and business support can have in helping charities and social enterprises develop their business models, and it is good for the sector that more organisations will now be able to access this kind of support through the Big Potential programme.”
 
As part of the Big Lottery Fund’s continued commitment to the development of the social investment market in England, Big Potential will provide much-needed support to help organisations achieve their full potential for growth by helping them secure investment.

Social investment offers access to new sources of capital that can help VCSE organisations raise finance in new ways to operate on a more sustainable footing as they provide their valued services to people and communities most in need.

Big Potential was developed to address a current gap in investment readiness support identified by a report on the social investment market, commissioned by the Big Lottery Fund and carried out by ClearlySo and New Philanthropy Capital, which shaped the design of this fund. To read the full report, visit http://www.biglotteryfund.org.uk/research/social-investment

Big Lottery Fund Press Office: 020 7211 1888
Out of hours media contact: 07867 500 572
If you have a hearing or speech impairment you can contact us using Text Relay at
18001 plus 0191 376 1776
Full details of the Big Lottery Fund programmes and grant awards are available on the website:
www.biglotteryfund.org.uk
Ask us a question here:
http://ask.biglotteryfund.org.ukGoes to different website
Follow us on Twitter: www.twitter.com/BigLotteryFundGoes to different website #BIGlf
Find us on Facebook:
www.facebook.com/BigLotteryFundGoes to different website

Notes to editors

  • The Big Lottery Fund, the largest distributor of National Lottery good cause funding, is responsible for giving out 40% of the money raised for good causes by the National Lottery.
  • The Fund is committed to bringing real improvements to communities and the lives of people most in need and has been rolling out grants to health, education, environment and charitable causes across the UK. Since its inception in 2004 BIG has awarded close to £6bn.
  • The Fund was formally established by Parliament on 1 December 2006.
  • In the year ending 31 March 2013, 28% of total National Lottery revenue was returned to the Good Causes.
  • Since the National Lottery began in 1994, £31 billion has been raised and more than 400,000 grants awarded across arts, sport, heritage, charities, health, education and the environment.

Spotlight on women at Serco – Anita’s story