Bright Ideas Fund reopens in June

Are you a community with a bright idea for a business that could transform your local area?

The Bright Ideas Fund supports new community business ideas through the start up and planning stages with tailored business support, to the implementation stage with grants of up to £15,000.

The Bright Ideas Fund is funded by Power to Change, the independent trust supporting community businesses in England, and delivered by Locality, the national network for community organisations.

The fourth round will open on 26 June and close on 31 July. Interested communities can now read the guidance and register for a FAQs webinar with a live Q&A.

 

The Community Business Bright Ideas Fund aims to give your community group the support and tools to start setting up your community business. It will also give your group the early stage finance that you need need to carry out consultation with local people and feasibility studies to develop a community business idea the community wants and needs.

What is a community business?

A community business is set up and led by local people to look after what matters to them. Any profits flow back into the business to deliver positive local impact.

Watch some case studies to hear some community business ideas, or hear from Claire Mappin at the Burton Street Foundation in Sheffield talk about their community business and how it benefits the people of Hillsborough.

What the Bright Ideas Fund offers

  • Online induction and ongoing support, either online, by phone or where possible through visits
  • Community Business development plans, to help successful groups shape and develop strategies and plans for their community business
  • Mentoring and visits, to inspire applicants and give them the opportunity to learn from peers
  • Regional networking and events, to learn from social finance experts, successful community business leaders, funders and technical specialists.

How it’s helped others

In previous rounds, the Fund has helped communities save heritage assets, such as a grade II listed former council run swimming Baths in Balsall Heath, Birmingham which reopened last month and is operating with the support of 50 local volunteers.

The Fund also helped St Ann’s Development Trust get investment ready which led to them teaming up with the London Mayor to purchase a former hospital site in Haringey, ensuring that 50% of homes will be affordable and residents will be involved in every stage of the development process.

Keep update to date on further announcements by signing up to the My Community Digest.