An innovative programme created to develop stronger and more sustainable social enterprises in Bristol is poised to launch a second round of funding and support, injecting a further £1.3 million into the sector over the next 12 months.
First launched in 2021, the Bristol Local Access Programme has played an important role in supporting the growth of social enterprises in the city, providing around £2.5m funding in the form of small grants, repayable loans and business support to around 130 locally based social enterprises.
Recognising the challenge faced by social enterprise models in securing traditional investment, the programme was established with funding from Access: The Foundation for Social Investment, aimed at rectifying this disparity and fostering more equitable access to finance.
It is managed by award-winning impact investment experts BBRC (Bristol & Bath Regional Capital) and underpinned by a partnership of five local organisations bringing a combination of expertise and support: Black South West Network, School for Social Entrepreneurs, Voscur, Ashley Community Housing and Street2Boardroom.
The programme creates bespoke investment packages comprising affordable repayable finance, small grants and tailored business development support and training. Its flexible and dynamic approach is tuned to the unique needs and growth trajectories of the individual enterprises.
As the programme embarks on its second phase from this month to March 2025, there is a further £1.3 million of funding available, also to be deployed as a mix of repayable finance and business support provided by the partners. Each of the partners has specific targets for the next year, which include:
Ed Rowberry, chief executive of BBRC, said: “Bristol is renowned for being an enterprising city with a vibrant business culture. However, it also grapples with significant inequality and unequal wealth distribution, exacerbating social issues in some communities, such as poverty, health disparity, inadequate transport connectivity and lack of housing.
“The Bristol Local Access Programme was conceived to recalibrate Bristol’s economic landscape, making it more equitable and inclusive, rather than just bigger, by investing in enterprises doing good particularly in areas grappling with the greatest inequality. By nurturing the city’s social economy, we aim to address these challenges head-on.
“We’ve seen great success with the first three years of the programme, and we’re delighted to embark on the next stage with a further £1.3m of investment and package of business support. We’re keen to hear from social enterprises in the city with ambitions to grow and a commitment to addressing Bristol’s inequalities.”
Organisations supported in the first phase include:
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