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Social Enterprise Investment Fund 2009/10 - Open for Business

DEPARTMENT OF HEALTH News Release issued by COI News Distribution Service on 11 June 2009

Social enterprises which improve the quality of health and social care for local communities can now apply for loans and grants from the Department of Health's Social Enterprise Investment Fund, Care Services Minister Phil Hope announced today.

The Fund has helped 200 social enterprises by investing over £20 million since it was first launched in 2007. There is more than £70 million available for start-up and existing social enterprises over the next three years.

Existing projects which have received funding include:
* £243,500 in March 2009 for St Luke's Healthy Living Centre in Southend on Sea, Essex, which provides a range of services including counselling, and fitness activities for the local community;
* £10,000 in April 2008 for the Healthy Hearts mobile screening programme set up by staff at Sandwell and West Birmingham NHS Trust which aims to reduce health inequalities in the region;
* £50,000 in March 2008 for Cafe Inc set up by the Aspects and Milestones Trust which provides peer support and vocational training for people with learning disabilities and mental health problems;
* £54,000 in March 2008 for Sit n B Fit in Sunderland, North East England which offers manageable fitness routines to help people keep or regain their mobility.

Social enterprises can apply for a range of financial help including loans, grants and equity-like investment products, along with tailored business support services that can be provided by the fund.

Phil Hope, Minister for Care Services said:
"Social enterprises have the power to connect and engage with communities and offer innovative ways to improve the quality of care for people.

"The Social Enterprise Investment Fund provides not only loans and grants, but also valuable business support. This backing will help new social enterprises, as well as those that are already up and running, play a significant role in transforming health and social care services and improving the health and well-being of local communities."

New and existing organisations can apply for investments by visiting http://www.dh.gov.uk/seif or calling 0191 269 2276. The funding application process takes approximately six weeks.

The fund is being delivered by Futurebuilders England and Partnerships UK. The two organisations will work closely with the Department of Health's Social Enterprise Unit to support and assess applications to the fund.

Jonathan Lewis, chief executive of Futurebuilders England said:
"Social enterprises are increasingly delivering valuable public services.

"This fund can really help organisations working to deliver innovative health or social care services locally, with access to grants and loans.
We are also offering additional support to help them succeed through better management and use of funding."

James Stewart, chief executive of Partnerships UK said:

"Social enterprises already make a huge contribution to the delivery of public services. This contribution is only going to increase in the future.

"Partnerships UK is delighted to be working alongside the Department of Health and Futurebuilders England to help social enterprises realise their full potential in delivering health and social care services".

Ends
Notes to editors
1. For more information about Futurebuilders England, please contact Shaheena Sachedina or Peter Gilheany on 020 7403 2230 or at shaheena@forster.co.uk/ peter@forster.co.uk

2. For more information about Partnerships UK, please contact Elaine France on 020 7273 8056 or at elaine.france@partnershipsuk.org.uk

3. Following the 2007 Comprehensive Spending Review, the Department of Health committed £100m of funding for the Social Enterprise Investment Fund until March 2011.

4. The Social Enterprise Investment Fund is managed on behalf of the Department of Health by Futurebuilders England Ltd, working in partnership with Partnerships UK.

5. The Fund is open to applications from new and existing social enterprises in England:
* Existing social enterprises looking to expand into health and social care
* New social enterprises that want to provide services in health and social care
* Groups of health and/or social care professionals (eg nurses, therapists), seeking to form a social enterprise to deliver their services.

6. The Fund will offer a range of financial solutions including loans, grants and innovative equity investment products, alongside tailored business support services.

7. Futurebuilders England is the largest social investor in the UK. Its aim is to substantially improve the financial and strategic capability of the Third Sector so that it can play an ever greater role in improving the lives of the people and communities it serves. For more information visit http://www.futurebuilders-england.org.uk

8. Partnerships UK (PUK) has a unique public sector mission: to support and accelerate the delivery of infrastructure renewal, high quality public services and the efficient use of public assets through better and stronger partnerships between the public , third and private sectors

9. PUK is working with around 20 Primary Care Trusts to provide assistance in separating provider and commissioner functions and support the implementation of new enterprise forms including social enterprise. For more information visit http://www.pukpublicservices.org.uk

10. Social enterprises are businesses with primarily social objectives whose surpluses are principally reinvested in the business or community, rather than being driven by the need to maximise profit for shareholders and owners. There are a number of different forms of social enterprise such as community interest companies (CIC), charities, community benefit societies and co-operatives.