Power to Change Fund Opening Soon
Power to Change Community Busienss Fund will offer grants between £50,000 to £300,000 to support and develop community businesses in England. They say "Your organisation must be a community business. In previous funding rounds, over two-thirds of applications were rejected because they didn’t meet our definition of a community business."
What is a community business?
- Locally rooted
- Accountable to the local community
- Broad community impact
- Trading for the benefit of the local community
Competition and success rates
Bear in mind that in previous funding rounds, Power to Change was only able to fund 5% of the applications it received. Please read and follow the guidance notes when published in April and make sure that your bid fits the criteria.
Power to Change "will rarely fund alone". For example, it will usually fund a maximum of 75% of the total costs of buying or renovating a building.
When to apply
There will be 3 opportunities to apply for funding in 2016. Quote "we expect to allocate funding broadly equally across the three rounds, so choosing to apply for a later funding round will not reduce an applicant’s chance of receiving a funding."
- 5 April 2016: Power to Change will publish full criteria on its website and open a grants helpline for questions about the fund.
- 19 April 2016: Free Q&A webinar about the programme (booking details to be announced).
- 26 April to 1 June 2016: First application window.
- July 2016: Second funding round opens for applications.
- October 2016: Third funding round opens for applications.
Register your interest to get an email with a link to the criteria on 5 April 2016.
Unfortunately, Power to Change is unable to answer questions about the fund until 5 April 2016