The fund will support community-led enterprises that directly engage with and service local communities.
BIG has defined ‘community-led enterprise’ as meeting the following criteria:
- The enterprise is community-led, meaning it is endorsed by or engaging directly with local people.
- The lead partner is a charity, social enterprise, not-for-profit or member (co-operative) organisation. The governing documents provide that on dissolution or winding up, the organisation’s property and income will not be distributed amongst its members but will be transferred to another charity or similar organisation.
- The enterprise is locally based, benefiting a specific geographical place and is inclusive of all in this community.
- The aims and objectives of the enterprise are a direct response to local social and economic need or opportunity.
- The enterprise has a sustainable business plan and aims to become viable beyond grants or public funding.
BIG’s briefing about Power to Change is on this page — click the download link ‘read our briefing’ in the final paragraph.
Thanks to Angus McCabe at TSRC for the nudge to this story.