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Date: 13 Sep 2024
A £90,000 fund from Belfast City Council has opened to incentivise and boost Belfast-based social enterprises and co-operatives.
The Social Economy Incentive Fund will provide grants of between £1,000 and £10,000 to new or developing social economy businesses in early growth stages, or in need of support to begin trading in the next six months.
Councillor Sam Nelson, Chair of the council’s City Growth and Regeneration Committee, said the initiative is fulfilling the council’s aim of providing practical support to local businesses who are keen to give back.
“Our Belfast Agenda community plan wants to make it as easy as possible to do business in our city because we know developing an inclusive and thriving economy means other positive changes for our residents,” he said.
“Businesses have told us that one of the major barriers to start-up success and early growth – particularly in the social economy sector - is their lack of capital, so this fund will provide a welcome boost to help overcome this obstacle.
“Successful applicants can use these grants to cover set-up costs, buy equipment to grow their organisation, develop staff skills, help with marketing costs or bring in specialist support – anything that is not already covered by other business programmes.”
To apply, visit belfastcity.gov.uk/socialincentivefund with the deadline for applications 5pm on Friday 1 November.
Shortlisted organisations will be invited to make a five-minute pitch on 4 or 5 December to a judging panel of local social enterprise stakeholders, where they will outline the social value and impact an award would have on their organisation and customers.
Successful applicants will be selected based on both their application and pitch and receive up to £10,000 per organisation, across three categories – early stage, start-up and growth.
For Joan Henderson, Managing Director at Sólás, support from the Social Economy Incentive Fund has enabled her organisation to grow its offering further.
“We were delighted to have secured funding to support early 'start up' equipment, as well as marketing and promotional costs for our newly established SONA project,” she said.
“SONA is a social enterprise that provides learning and social opportunities for young adults with disabilities leaving school. We now operate five days per week, in a separate facility based in Stranmillis, and this support helped us to purchase sofas, tables, chairs, first aid equipment, storage units and laptops to refurbish our leased premises.”
Springfield Charitable Association used their award to take on new staff and expand their services further.
“Our award meant we could hire an extra part-time member of staff and extend our opening hours and services,” said Health Hub Manager Adam Ryan.
“We increased our hydrotherapy bookings by an average of five per week across the year as a result - our best financial year to date for the hydrotherapy department. I’m certain we would not have been able to achieve this, without the help of Belfast City Council.”
For Creative Workers’ Cooperative, the fund has helped stabilise their organisation after the Covid-19 pandemic.
"The support given by the Social Economy Incentive Fund was hugely beneficial, allowing us to invest in new equipment and revenue streams after a tough few years,” said Gerard Black, Director of Photography.
“We are now in a position to offer more services to more clients, which has given us a level of financial stability that wouldn't have been possible otherwise."