News / Business Support
New social economy programme to support South West businesses
A new fully-funded support programme for charities, third sector organisations, social enterprises and co-operatives is set to be launched across the West of England.
The five-fold package includes one to one coaching support, demand-led themed workshops, expert mentoring from social entrepreneurs and peer networks.
The West of England Mayoral Combined Authority (WECA) initiative, led by Business West and delivered by a partnership of experienced third sector organisations is designed to help organisations overcome increasing demand amid the cost of living crisis.
On the new support initiative, Dan Norris, metro mayor of the West of England, said: “I’m delighted to be launching this new package of support. In this cost of living crisis, people in the West of England need the help of charities, social enterprises, and co-ops more than ever. But higher demand is putting the sector under a lot of pressure.”
He added: “What I hear consistently from these organisations is that they’re too reliant on grants and short-term pots of money. Social Economy West will help get them on a more sustainable footing and find longer-term ways of raising the cash they need. This will help keep them doing their incredible work for many years to come.”
Metro mayor Dan Norris pointed out the importance of “more sustainable footing” for local businesses and charities – photo: Milan Perera
Social Economy West will help the sector in the region to grow, as well as providing tailored support to organisations to help them become more financially and environmentally sustainable, support the move towards net zero, manage risk more effectively and broaden their links with the wider economy and business community.
A partnership of experienced third sector organisations, led by Business West, will work collaboratively to deliver five key support activities, including one to one coaching support, demand-led themed workshops, expert mentoring from social entrepreneurs and peer networks. Bristol & Bath Regional Capital will also be working to establish further repayable investment funds for the region.
Phil Smith, managing director at Business West, said: “We’re pleased to be working alongside the West of England Mayoral Combined Authority and other partners to deliver this programme. Social enterprises are a crucial part of the wider business ecosystem and drive forward the ambition to make this region the best place to live, work and do business.”
To be eligible for support, organisations must be located in the WECA catchment area and have a core social mission. This could include organisations such as social and community enterprises, charities, voluntary and community sector organisations, housing associations, co-operatives and mutuals, informal self-help initiatives, social finance and support providers and alternative business models.
The programme is set to run until 2026.
Main photo: Business West
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