How to Fund a Social Enterprise
by Startacus Admin
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If you’ve got an idea for a business and doing social and environmental good is a bigger priority and focus than making money for yourself, you’re probably considering going down the Social Enterprise route. And you’re not alone - the last few years has seen a significant rise in the number of new businesses being set up with social enterprise status. Although we are all constantly hearing
that the banks aren’t lending and that there is no money available for startups; on the social enterprise side of things, there are a whole host of people and places who can help get such a business off the ground with financial support. We’ve highlighted some of the main ways of funding a social enterprise right here.
The Bridges Social Entrepreneurs Fund
Since its’ launch in 2009, this fund has raised almost £12 million in investment for scalable social enterprises. Investment of up to £1.5 million is made to social enterprises based in England that have scalable and sustainable potential. Funding provided is however repayable, with a return.
Buzzbnk
Featured previously in our Crowdfunding article, Buzzbnk acts like an online marketplace helping social ventures connect directly with potential backers and supporters. The platform takes a 5% admin fee for any project that gets successfully funded. On this platform as well as making financial pledges to help a business out, backers also can pledge their own time, which is in itself pretty invaluable.
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