Funding news

Plans for €90m social enterprise fund - 27 October 2011

A €90m (£77m) fund to support the development of social enterprise has been proposed by the European Commission.

The fund aims to "facilitate access to funding for start-up, development and expansion of social enterprises" and invest in other funds that invest in the social enterprise world, in a manner similar to Big Society Capital. However, EU budget planning means it is unlikely to be set up before 2014.

The commission made the proposal as part of its Social Business Initiative, its strategy to support social enterprise across Europe

The Social Business Initiative also announced a number of other changes that the commission plans to introduce, including a European framework to facilitate social investment, and changes and clarifications in procurement and state aid rules to make winning contracts and investment simpler for social enterprises.

For further developments, see the Europa website.