Power to Change Bright Ideas fund now open
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 funder is interested in community groups, associations and organisations who have a good idea for a community business but need advice and a small amount of revenue funding to develop, test and get to the stage of launching their community business.
To be considered for support and funding, you must be based in England and demonstrate how you meet each of the following 6 criteria:
- Are you a community business?
- Are you an incorporated or unincorporated organisation, but not an individual?
- Have you been established for five years or less?
- Do you have a charitable purpose?
- Is your project for public benefit?
- Does your idea focus on one of the funder’s impact areas? (Reduce social isolation, improve health and wellbeing, increase employability, create better access to basic services, improve local environment, enable greater community cohesion, foster greater community pride and empowerment.)
Community business definition and eligibility
The funder defines community businesses as:
- Locally rooted.
- Accountable to local community. This can be demonstrated in many ways (e.g. membership structure, ownership, broad range of local trustees) but you must have evidence of regular community input into decision making.
- Trading for the benefit of the local community. They sell services and products in and around their local area. The way the business is run and the profits it makes are used to deliver local benefit.
- Broad community impact.
Some organisations will be working towards this definition. In those cases, applicants must demonstrate a commitment to becoming a community business and explain how support from Bright Ideas will help.
The next step will be to complete the eligibility checker to get the application form when the fund opens from 26 February. The deadline for applications is 9 April 2019.
A webinar is taking place on 13 March 2019 from 11am to 12pm to discuss what the programme offers, the criteria, application process and examples of what has been funded in previous rounds. Register for the webinar.
Alternatively, email firstname.lastname@example.org