More support for social enterprise
29th February 2008, 2:04 pm
Hazel Blears has announced the creation of a Social Enterprise Unit in the Department of Communities and Local Government, “to make sure that community enterprise runs right through my Department’s DNA”. Her speech at the Voice08 conference yesterday (27th February) also indicated that there could be more DCLG support for social enterprises too, soon, http://www.communities.gov.uk/speeches/communities/705125.
High profile businesses are also being brought in to “explore innovative ways of using their expertise and resources to help local community organisations to build stronger community enterprises and ensure more effective use of their assets” - http://www.communities.gov.uk/news/corporate/705131.
The Department of Health’s Social Enterprise Investment Fund had a funding increase of £27 million announced at the same time, taking it to £100 million. The Fund supports the development of social enterprises such as women’s refuges, migraine clinics and exercise programmes for the elderly. News release at http://www.gnn.gov.uk/environment/fullDetail.asp?ReleaseID=355787&NewsAreaID=2, DH social enterprise information at http://www.dh.gov.uk/en/Managingyourorganisation/Commissioning/Socialenterprise/index.htm.
And third sector minister Phil Hope has said that the “radical proposal” to set up a £10 million Risk Capital fund for social enterprises will go ahead. After tendering, one or more independent fund managers will be appointed, with applications expected to open in the autumn. News release at http://www.gnn.gov.uk/Content/Detail.asp?ReleaseID=355923&NewsAreaID=2.