The UK government has launched Big Society Capital, a new institution to finance charities and community groups.
Posted: 10/03/2022
Big Society Capital has £600m, of which the majority comes from unused cash in bank accounts that had been dormant for more than 15 years.
The fund will back social enterprises that prove they can repay an investment through the income they generate.
The BBC reports that the fund has already agreed investments worth £3.6m in five separate schemes, including:
- Think Forward Social Impact, which helps young people into work and education
- Franchising Works, which trains the unemployed how to run a franchise business
- the Community Generation Fund,
which supports the development of renewable energy infrastructure, such
as solar panels and biomass boilers, for local communities.
But can Big Society Capital support the arts and arts education, when mostly these activities do not generate income? LEAN wants to know what you think about Big Society Capital. Tweet your comments to @LEANarts or email Jane or Emily.
You can read more about Big Society Captial here http://www.bbc.co.uk/news/business-17602323
