Welcome to the latest newsletter from Inspire2Enterprise, providing you with the latest news, funding news and useful links for the social enterprise sector.
This month has had less news regarding funding, but we’ve found a few more useful links that we’d love to share with you, and which include further resources and courses that are ideally suited to social entrepreneurs.
Latest Funding News
If you’ve already secured a Start Up Loan for your social enterprise and have been trading for no more than two years, you may be eligible to apply for a Second Loan for the same business. You are able to have a total outstanding balance of £25,000 at any one time, so if you borrowed £20,000 and have now repaid £10,000, then – provided you meet all the other eligibility criteria – you should be able to apply for a Second Loan of up to £15,000.
RBS State Aid
This revised package is focused on promoting competition in the market for banking services to small and medium enterprises in the UK. This is a £425m Capability and Innovation Fund and an Incentivised Switching Scheme which will provide £275m of funding for eligible challenger banks.
Social Business Growth
A useful and free business guide for scaling social enterprises, starting with the beginning preparation with thorough explanations as to why, followed by clear examples of what you can do. A very good supplementary tool for those looking to, or who already, growing.
The FSI are providing training in the form of both webinars and full or half day training (plus workshops). Places are limited, so be quick if you want to secure your position. As well as these, they’re currently updating their general resources hub which covers a variety of topics that are useful to any social enterprise.
In a previous newsletter, we noted the forthcoming replacement for the UK Data Protection Act 1998, otherwise known as the ‘General Data Protection Regulation‘ (GDPR). NCVO have provided a neat little checklist to help businesses and individuals prepare for the new GDPR rules. The new rules aren’t coming into practice until 2018, but it’s certainly a good idea to start preparing yourselves now!
Get in touch!
Contact our free-to-access support service on:
Telephone: 0844 9800 760 (lines open Monday – Friday, 8.30am – 5.30pm)