This document provides information about funding a social enterprise in the West Midlands region. It discusses partially funding social enterprises through the European Regional Development Fund. It also provides tips for identifying available funding sources like the Big Lottery Fund, charitable trusts, and banks that support social enterprises. The document emphasizes measuring your social impact and including budgeting tools like cash flow and profit/loss statements when applying for grants.

1. Funding your Social Enterprise
Growing a Social Enterprise in the West Midlands is
partially funded by the European Regional
Development Fund

2. Housekeeping
Making your visit safe and enjoyable for all.

3. Housekeeping
Toilets are located in the reception area to the left of the exit
/ entrance doors.
If the Fire Alarm sounds – please make your way to the
far side of the pay and display car park.
Smoking is not allowed in any part of the SWEDA building.
If you wish to smoke you can do so at the side of the building
nearest the car park.
Please switch off your mobile phones or set them to silent.

4. Group Introductions

5. Identifying available funding
Focus on the ‘Needs of the Community’ to identify funding

6. Identify available funding
Community
Profile
Use of Profit
Risks – if Do
Nothing
Impact
Who is leading and Why?
Individual / Group
Funding
Opportunities
Needs
Who Can Pay?
Who Benefits?
Who Should Pay?
How identified?
Independent Evidence
Different
Profiles
may require
different
organisational
structures
Measurable
Visible
Reportable
Business
The Social Impact

7. Identify available funding
http://www.bigsocietycapital.com/finding-the-right-investment/

8. Identify available funding
The Big Lottery including:
• Awards for All - £300 to £10,000
• Reaching Communities - £10,000 to £500,000
• Heritage Fund
• Children in Need
• Fund 101
• ERDF / ESF / Leonardo
• Charitable Trusts
• Charity Bank – www.charitybank.org
• UnLtd - http://www.unltd.org.uk/
• Co-operative Bank - www.co-operativebank.co.uk
• Large organisations with published CSR (Corporate Social Responsibility)

9. SMBC External Funding Team
Claire Edwards - Local help with funding

10. Project Budgeting
Recognising all your costs with links to impact

11. Project Budgeting
Building / Office Inc. Fixtures and Fittings
People Inc. Volunteers (Health and Safety)
Bills / Running Costs
Transport – Van / Car (NB: Business Insurance Cover)
A Day in the life of the Social Enterprise

12. Project Budgeting
Need to use standard accounting tools
• Cash Flow
• Profit and Loss
• Balance Sheet
NB: Asset Lock (CIC), may also have restricted / unrestricted funds
Funders will need some if not all of the above, together with:
• Monitoring Reports – Milestones with figures (income / expenditure)
• Some funding restricts or prevents certain activity e.g. Sponsorship income
• Some funding looks for Match from own funds or revenue generation
If you can calculate your Social Return on Investment.

13. Tea / Coffee Break

14. Writing a Successful funding
application
Recognising measurable impact – Awards 4 All

15. Writing a Successful funding application

16. Writing a Successful funding application
Check List:
• Revenue and Capital requirements (may need different funding)
• Make sure that the funding is appropriate to the impact
• READ the question – ANSWER the question
• Watch out for word counts
• If have to complete on-line, can you draft off-line
• Get someone to critique / check your application
• Don’t double guess the readers response – keep to the facts of your project
• Right Legal status – number of officers
• Supporting community – part of a steering group
• Consider partners / associates as part of your bid

17. Case Study
Alwoodley Community Orchestra

18. Case Study - Alwoodley Community Orchestra

19. Opening an appropriate bank account

20. Opening an appropriate bank account
What you will need to take with you:
• At least 2 forms of I.D. for everyone who will sign on the account (Inc. 1 photo I.D.)
• Certificate of Incorporation for Co. Ltd by Guarantee or CIC.
• Letter Headed paper
• Constitution – minutes of committee meeting.
Note: those signing on the account will be subject to a credit check e.g. Experian if any
members have credit problems this may prevent them being a signatory.
You may also be asked for your cash flow.
Most charity / social enterprise accounts require 2 to sign – therefore a mandate for the
those signing will be provided by the bank for signing (need to have the signatories
present)
Questions on the account opening form (all important) can stop account opening.

21. Q & A - Networking