New types of social businesses need the right financing options. There is investment available to social ventures and the range of options is increasing almost weekly; social impact bonds, local impact funds, crowdfunding and others. There are two key headaches for both social ventures and investors; developing the venture such that it is investable and matching the right type of investment to the needs of the venture.
Big Venture Challenge supports dynamic social ventures that are ambitious for scale and we provide support for the growth of the organisation and of their social impact proposition. Among a range of services we help develop the growth plans and investment strategy. The latter work looks to match the investment need with the best source of investment. We have already engaged with almost 100 investors ranging from traditional social lenders to venture capitalists. Having attracted over £5m of risk investment we are confident we are able to help social ventures to scale.
One example is Goodwill Solutions which provides commercial logistics to national and international retailers, suppliers and manufacturers. It uses its infrastructure and surpluses to provide vocational training, and to engage local employers, so creating training leading to employment for people distant from the job market; for example, ex-offenders, long term unemployed and those blighted by post-traumatic stress disorders.
Mike Britton, Managing Director at Goodwill Solutions said “Whilst employment training is well catered for in the Third Sector, Goodwill Solutions facilitates that extra dimension – the link to paid employment – that many training houses do not provide. Big Venture Challenge created the investment opportunity that we needed to take our business to the next level, allowing us to change more lives through employment.”
Read more in the case study below about Mikes time on the Big venture challenge:
The Big Venture Challenge is currently open for applications. Find out more here