Have your say about how up to £738 million of dormant assets funding is spent in England
Do you want to have your say on how up to £738 million of dormant assets funding is spent in England? A public consultation offers an important opportunity to share your views on broad social and/or environmental purposes for dormant assets funding in England.
It includes options on four causes - youth, financial inclusion, social investment, and community wealth funds, and provides the opportunity to suggest other social and environmental causes.
The consultation follows the Government's commitment to expand the Dormant Assets Scheme and the Dormant Assets Act 2022 securing Royal Assent in February, potentially unlocking a further £880 million for good causes across the UK over the coming years, of which £738 million will be made available for England.
Share your views on dormant assets spending on the online consultation. The consultation opens on Saturday 16th July and will close on Sunday 9th October.
Are you a social enterprise looking to grow your impact? Then you’ll be interested in the launch of a £25 million Growth Impact Fund
Big Issue Invest, UnLtd and learning partner Shift have launched the Growth Impact Fund, a potential £25 million investment fund providing equity, patient debt, and revenue-based funding to early-stage and growing social businesses in the UK.
The Fund is open to social enterprises that are focusing on tackling inequality or are ‘diverse-led’. Diverse-led is defined as having a minimum of 75% of their board and 50% of their senior leadership team composed of people from underrepresented backgrounds.
Find out more about the eligibility criteria of the Fund, and how to apply, by visiting the Growth Impact Fund website.
Evaluation of the VCSE Covid-19 funding package
In March 2020, the Chancellor announced a £750m funding package to support the Voluntary, Community and Social Enterprise sector during the pandemic.
As a result of this funding, 14,000 organisations reached an estimated 21.5 million service users. Survey respondents reported the following impact for people in communities:
- improved mental health and wellbeing (70%)
- more opportunity for social contact (62%)
- reduced experiences of loneliness (58%)
Read the full evaluation on the VCSE Covid-19 funding package on the Gov.uk website