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www.thekeyfund.co.uk

www.thekeyfund.co.uk. Garry Brown Village SOS Roadshow Longhirst Hall Morpeth 24 th May 2012. Joint Venture SYCF Locality. Key Fund Timeline. Vol./com. grants. £25m Delivered. 2012 - Lending Challenge £4.5m. Background.

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www.thekeyfund.co.uk

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  1. www.thekeyfund.co.uk Garry Brown Village SOS Roadshow Longhirst Hall Morpeth 24th May 2012

  2. Joint Venture SYCF Locality Key Fund Timeline Vol./com. grants £25m Delivered 2012 - Lending Challenge £4.5m

  3. Background The Key Fund is a revolving loan fund created to increase access to capital by providing recyclable funds as loans, community share capital & grants to social enterprises ‘Successful Neighbourhoods’

  4. Social Enterprise or… Development Trust Community Land Trust Credit Union Sports club etc. Organisational type Status Governance Legal Form “…surpluses principally reinvested for Social objectives…”

  5. Governance Governing Document Hallmarks of an Effective Charity • Clear about its purposes and direction • A strong board • Fit for purpose • Learning and improving • Financially sound and prudent • Accountable and transparent www.charitycommission.org.uk

  6. Social Enterprise High Worker participation in ownership and management Co-operative Community Benefit Society Guarantee Company or CIC Share CIC Financed By Grants Financed By Trading Charitable Guarantee Company Ordinary Share Company Unincorporated Charity Low Worker participation in ownership and management Source: Social Firms UK – The Extra Elements

  7. Types of Borrowing The following types of funding may be considered at various stages in the business life cycle Seed capital (seed-corn) Concept / prototype Development Market research Pre-launch activity Start-up Product development / initial marketing Initial Working capital or Asset Purchase Early Stage Trading Not yet profitable / breaking even Development Funds for growth and expansion Breaking Even / Profitable Very High Risk Own money Venture Capitalist High Risk Debt (Loan) Funding Banks / CDFI / Specialist Term Loans > Private Investment > Venture Capital / Floatation

  8. Social Enterprise Sources of Finance

  9. Case Studies Limited Company Hebden Bridge Town Hall – West Yorks. Company limited by Guarantee Registered Charity Asset Transfer Bar Lane Studios Company limited by guarantee Artists Studios Café Gallery Community Interest Co Limited by shares

  10. Case Studies Community Shares Hudswell North Yorks Community pub Unity House Wakefield Slaithwaite Co-operative Limited Green Valley Grocer Portland Works Sheffield

  11. Renewable Energy Hydro schemes IPS – Community Benefit Society structures Blended package of support Grant / Equity / Loan Calder Valley Whalley Community Renewable Energy Otterspool Stockport Hydro Ruswarp Whitby Esk Energy

  12. Renewable Energy Wind Turbines Roseland Community Energy • Community Interest Company • Formed by 2 charities to pursue wind farm project in Derbyshire • Partner in LLP with IPS Ben com • Supported LLP with: • Grant / Loan offer

  13. Community Shares • Community Benefit Society - IPS structure • Local or interested people investing in local or special interest social enterprises • Engaging people – customers / supporters • 2009-11: • 115 new societies registered • (66 bencom and 49 co-ops) • 43 community share offers launched • 32 share offers completed • £5.74m raised from 6,164 members www.communityshares.uk.coop

  14. Keeping in touch www.thekeyfund.co.uk Newsletter

  15. Key Fund Simple to Apply • Investment Fund • Loan up to £150k • Equity up to £20k (<10% stake)

  16. Supporting Social Enterprise 1:1 Support with Key Fund bid Business Plan Template Cash Flow Template Borrowing Workshops Network of Lending Partners, Intermediaries & Consultants www.thekeyfund.co.uk

  17. Key Fund Social Media @keyfund www.thekeyfund.co.uk

  18. Questions? Garry Brown Tel: 0114 242 8912 Mobile: 07515063132 Email: garry.brown@thekeyfund.co.uk View our web-site at: www.thekeyfund.co.uk www.thekeyfund.co.uk

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