January 31, 2012 - Anonymous

Social enterprises in London and Bristol offered £50k funding

Social enterprises in London and Bristol can win a prize fund of up to £50,000, following the launch of the Santander Social Enterprise Development Awards (SEDA).

Enterprises bidding for funding are required to demonstrate how they would use the prize money to develop one of three community benefits – improving social inclusion, supporting disadvantaged people or creating a greener environment. Three awards of £15,000, £30,000 and £50,000 are available.

The awards are open to social enterprises and Community Interest Companies with two or more years of trading that need a financial boost to help them develop.

Winning firms will receive mentoring support and business training, as well as working with the Community Foundation network to assess the social impact the prize fund will have on local communities.

“Not only do we want to see social enterprises grow, we want to see them have a positive effect on their communities,” said a SEDA spokesperson. “This is why we will work with the winning businesses for three years to help them assess their community impact, make the most of their prize money and help add value to their enterprise.”

The deadline for entries is 3 February.