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Posted by Sarah Brown on 18 Jul '12

First application sent in for the investment and contract readiness

After just a week we're really pleased we've already been able to get an application into the contract and readiness fund. A social enterprise with lots of potential and no time or resource to pursue their ideas.

When we got confirmation last week that we had been approved we immediately contacted a local social enterprise we'd met in the spring. We knew that they had lots of ideas about how to expand but no time, money or people to explore and develop them so we hoped they would be perfect for the new fund.

But it's one thing to have a strategic chat and get excited, it's another to actually develop a detailed plan which can be submitted to get funding. Luckily the CEO was as keen as us and willing to clear their diary for a series of meetings to develop and test the ideas to see if they made sense. We know that a good application requires an organisation that could have the capacity to take on a contract or investment but it needs some tweaking which can be clearly explained.

There also has to be a real market opportunity and clearly measurable social impact that will add value. Add to this that many of the sections only allow 300 words and its no wonder that I'm now going to stop writing and go off to a dance class to clear my head. I really hope we get it, developing the plan together with the social enterprise was a really valuable experience and now I really want to do it. It could really change lives in South Yorkshire.

Tags: social enterprise strategic development funding and investment charity feasibility study business planning collaboration investment contract readiness

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