This blog is a once-in-a-decade opportunity to secure millions more funding for social ventures and comes courtesy of Kevin Armstrong, Policy Lead at UnLtd.
You have 5 days left to have your say on how £738M is spent.
The cost of living crisis and the mini-budget has shown that we urgently need improved access to finance, especially for social entrepreneurs focused on helping people survive in the UK.
Through this consultation, you can help make that a reality.
Let’s explain the situation, jargon-free!
Money that is sitting unused, lost and forgotten in bank accounts becomes “dormant” after a certain period of time. When it’s reached this sleeping status, it can be released for use by good causes in the UK.
£738 million is about to be released for good causes from lost and forgotten pensions, and other accounts in England.
The government is asking what they should spend the English pot of this new cash on. UnLtd thinks at least £500m should go towards social investment for social and community businesses.
With friends in the sector, UnLtd has put together a solid plan for putting the money to work creating a serious positive impact over the next 10 years called The Community Enterprise Growth Plan.
The government has the plan but needs to hear that social ventures support it too.
They need submissions about the impact and value more funding would have on you and the communities you work with.
There are only 5 days left to share your thoughts - submit by Sunday 9th October.
If you want ventures like yours to grow in the next decade, a strong social investment sector will be key to that growth and sustainability – offering advice, support, and flexible finance.
UnLtd and NBWN urge all social ventures to take this rare opportunity to directly influence where £738 million goes.
To make it as easy as possible for you, UnLtd have put together a question-by-question guide to completing the survey you can download here —> Simple Survey Guide
Government consultations can seem dense, but all this is asking for is your experiences and hopes for future funding.
UnLtd are here and available to offer support on this. If you’d like to talk about it – please email kevinarmstrong@unltd.org.uk
Thank you very much for your time and your support.