Fund title: Power to Change: support for community businesses
Focus of fund/fund aims:
Emergency funding to support previous/current recipients of grants from Power to Change. Further funding to support community businesses will be available later in the year.
Existing Power to Change grantees can apply in two rounds during May
Power to Change is launching a new package of support for community businesses. There will be a total of £12million available:
C-19 Emergency Trading Income Support Scheme
£7million will be for community businesses that are current/previous recipients of a grant from Power to Change or that are members of Locality, Co-operatives UK or the Plunkett Foundation. Grants up to £25,000 will contribute towards trading income losses incurred between April and June 2020.
The scheme will open for applications in two rounds in May across two weeks: eligible applicants will be invited to apply.
A further £5 million in recovery funding, will be made available later this year, based on learning from the first pot, to help community businesses rebuild and recover strongly from the crisis
Community businesses should note that Power to Change has now closed all its other funding programmes and future rounds are on hold.
Further information is available through the Frequently Asked Questions on the Power to Change website and community businesses can also sign up for a newsletter to receive updates.