Funding news

Big Potential fund launched- 14 March 2014

A new £10m fund to improve the sustainability, capacity and scale of voluntary and community organisations and social enterprises has been launched by Big Lottery Fund.

The Big Potential Fund is a grant fund designed to support those voluntary, community and social enterprise organisations that want to improve their sustainability, capacity and scale in order to deliver greater social impact. It plans to raise awareness of social investment and support those who wish to pursue it.

Grants will provide funding for in-depth work to begin on social investment projects.The programme is open to organisations that are seeking to raise up to £500,000 in external investment and want to move to a more sustainable funding model so as to become less dependent on grants.

Big Potential will offer VCSEs the opportunity to consider the effectiveness of social investment as part of its broader financing and fundraising strategy. The scheme is designed to complement other social investment initiatives, such as the Investment and Contract Readiness Fund.

Nat Sloane, chair of Big Lottery Fund, said: "Providing support for charities and social enterprises to help them access finance is a key priority of our social investment strategy in England and it is very important in these difficult times."

Organisations who are interested should first complete an online eligibility checker.

Source: http://www.thirdsector.co.uk/news/1283020/Big-Lottery-Fund-launches-10m-programm