No Min - £30,000
15 Aug 2022
← Back | Last updated on 25 Jul 2022

Social Investment Business: Enterprise Development Programme

The Enterprise Development Programme (EDP) offers tailored support to environmental organisations and organisations led by those from Black and Minoritised communities. Support packages can include the opportunity to join a peer cohort, grants of up to £30k, direct advice and more.

Who is it for?

Charities and social enterprises looking to build their financial resilience and impact by developing enterprise ideas.

Am I eligible?

You are eligible if your organisation:

  • Is thinking of exploring new models of trading to become more financially resilient and requires support to make the transition. The long-term goal may be to take on social investment, but that isn’t a requirement for a place on EDP
  • Is located in England
  • Has a clear social mission
  • Distributes less than 50% of post-tax profits and reinvests at least 51% of surpluses into pursuing its social mission
  • Has a constitutional or contractual lock on its social mission, dividend and surplus distribution policy (also known as an asset lock)
  • An incorporated organisation – EDP is open to registered charities with a company attached and Charitable Incorporated Organisations (CIOs) only
  • Must be a social enterprise, charity or not-for-profit company based and working in England and have been operating for at least 2 years.
  • Able to provide the last full year of accounts.
  • Has an annual revenue of between £50k and £1.5m
  • Gets no more than 80% of income from one statutory source
  • Can evidence current trading activities, which require support/development and show commitment from senior management and the Board

Organisations must also have good governance, and a minimum of 2 independent Directors; the funds cannot support sole traders.

What could I receive?

A tailored business support package to meet the needs of your organisation. It could include:

  • Joining a peer cohort to share enterprise journeys (likely to be a standard requirement of all participants)
  • Grants of up to £30k (with occasional exceptions) to research or test out new ideas, to launch new enterprises or grow existing ones. Grants are likely to be conditional on evidence of growing income streams, using methods such as MatchTrading TM
  • Training and learning opportunities tailored to needs
  • Direct advice and support