Access to Finance and Investment
We know that Social Economy organisations are less likely to seek Social (loan) Investment but those that do, borrow much larger amounts than average. We believe the barriers for many is awareness of what social investment can do and the confidence needed to borrow money.
- Social Investment Readiness Support – a programme raising awareness, knowledge and consideration for frontline organisations.
- Supporter Awareness – in partnership with Big Society Capital, ensuring organisations who support, inform, advise or guide social economy organisations understand what investment sources exist and how to decide if Social Investment is right for their client.
- A West Midlands Social Investment Fund – we are looking at the possibility of creating a bespoke fund that meets the needs of the local social economy and priorities for the region
Access to Markets, Commissioning and Procurement
With some major investments coming up as part of the WMCA Trailblazer Devolution Deal, plus WMCAs commitment to inclusive growth and a circular economy, a review of procurement at WMCA and how the Social Value Act is applied is under review with the goal of ensuring WMCA uses its spending power to create. In the meantime, we are running Procurement Readiness workshops within our Business Support programme.
Central government, through DCMS, is also running a series of webinars and training on accessing public sector contracts via Government Contracts Revealed The School for Social Entrepreneurs (the-sse.org)