Aims/priorities: Community shares enable groups to get projects off the ground, with local people investing often small sums of money and becoming co-owners of vital local enterprises – from affordable housing to community pubs to green energy, support your community share offer with development grants and matched investment. There are three pathways of support to choose from:
- Pathway One: Preparing the offer – An initial development grant and the chance to secure matched investment for your share offer
- Pathway Two: Investment Ready – A matched investment into your share offer ahead of launching
- Pathway Three: Live offers – A matched investment into your share offer during the campaign
Who can apply? Groups must be located in England and should ensure they meet Power to Change’s definition of community business. They either need to be registered or intending to register under one the following legal forms, so they are able to issue community shares:
- Co-operatives with sufficient asset lock provisions
- Community Benefit Societies
- Charitable Community Benefit Societies
Grant amount: Successful applicants could receive a business development support grant up to £10,000 in advance of launching their community share offer. After that, their organisation could have access to up to £100,000 match funding when the share offer goes live.
Match funding will be in the form of equity held on equal terms with other community shareholders.
Application process: Expression of interest form, as part of the application form, you will be asked to arrange an initial phone call to discuss your application in more detail, prior to moving to the next stage
Deadline: There is no fixed deadline for applications. Applications will be assessed on a monthly basis and the Booster Programme will close once all the funds have been committed
Contact information: Email support for enquiries is available via [email protected]