Big Potential Opens for Applications (England)
The Big Lottery Fund has announced that its new £20 million programme to help Voluntary & Community groups and Social Enterprises (VCSEs) access social investment is open for applications.
The “Big Potential Fund” which will be managed by the Social Investment Bureau will provide grants of £25,000 – £75,000 to help VCSEs carry out investment readiness work with a small group of approved providers. Big Potential will be targeting not for profit organisations that are both at an early stage of their investment readiness journey and those that are further along that journey, who are seeking to raise up to £500,000 in external investment.
Eligible organisations can include:
• Registered charities
• Social enterprises
• Companies limited by guarantee with charitable aims
• Community Interest Companies
• Mutual etc.
Before charities apply to the fund they will be able to access support from Charity Bank, Social Enterprise UK or Locality before submitting an application. They will then be expected to approach an approved provider, and the charity and provider will make a joint bid to the fund. The fund has not appointed any approved providers yet, but organisations can now apply to become one.
Applications will be accepted on a rolling basis.