£5 million community business fund is now open

Power to Change, the independent trust supporting community businesses in England has officially opened their 2018 Community Business Fund. There is £5 million available to be awarded in 2018, making it the largest round of the fund in the trust’s history. Applicants have until 12 noon on Tuesday 22 May to apply.

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If your organisation is incorporated, and has a business development project aimed at making the organisation more financially sustainable, then you could be in line for a grant of between £50,000 and £300,000. Examples of incorporated organisations are community benefit societies, community interest companies (either limited by guarantee or shares) or cooperative societies.

Over 90 organisations have been awarded a combined £16 million since its launch in April 2016, and the range of community businesses supported is extensive. The money is sourced from a £150 million endowment from the Big Lottery Fund, which is funded from the National Lottery.

Organisations can start to prepare their applications from today by visiting Power to Change’s website and downloading the guidance which details the eligibility requirements for the fund and lists all the application questions.

If you are not quite ready to make the May 22 deadline, the next round will open in September 2018, with grant awards being made in early 2019. After this there will be further rounds in later in 2019.

Sign up to the Power to Change newsletter to keep up to date on current and future funding.