Power to Change, the independent trust supporting community businesses in England, has announced that local groups that need help to set up or grow a community business can now access support and match funding to launch their share offer. Community shares is a popular approach to raising finance, in which local people invest often small sums of money and become co-owners of vital local enterprises – from affordable housing to community pubs to green energy.
The new £3 million Community Shares Booster programme will support groups in England seeking to launch community shares offer. The first development grants and equity investments will be awarded from early 2018 as part of this five-year programme. Successful applicants could receive a business development support grant up to £10,000 in advance of launching their community share offer. After that, their organisation could have access to up to £100,000 match funding when the share offer goes live. Match funding will be in the form of equity held on equal terms with other community shareholders. For further information on the programme and how to apply please click on the link below.