Cabinet Office is considering two new funds to support social enterprise

I’m late in getting round to this but better late than never…

According to recent coverage in Third Sector Online, the Cabinet Office has just (July 2012) published Growing the Social Investment Market: Progress Update. This new report includes details of plans to establish two dedicated funds to help support social enterprise: a ‘social incubator fund’ to help support organisations offering workspace and support to incubate new SEs, and an ‘outcomes finance fund’, which — if I have understood it correctly — would be used to help grow SEs that are capable of delivering large public service contracts, especially those utilising Social Impact Bond financing.

There are no details yet of how much money might be dedicated to these funds.

The outcomes finance fund will clearly be somewhat specialised but once further details are available on the social incubator fund I predict a rush amongst business development providers to reposition themselves as providers of incubator workspace as well as business development services… Frankly, anyone with premises or access to space that enabled this would be daft not to at least consider it.

I’ll post more info as it becomes available.

 

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