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Project Partners and Financial Sustainability

Project Partners and Financial Sustainability. Alex Hobbs Programme Director SIFE UK - Southern Region. What do you want it for? What are the alternatives to having it? How can you get more of it?. Money Money Money!. Money: What do you want it for?.

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Project Partners and Financial Sustainability

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  1. Project Partners and Financial Sustainability • Alex Hobbs • Programme Director • SIFE UK - Southern Region

  2. What do you want it for? • What are the alternatives to having it? • How can you get more of it? Money Money Money!

  3. Money: What do you want it for? • Delivering projects: Printing / hiring venues /transport and expenses • Team Development: Marketing materials / Personal Training / Socials etc • SIFE Events • Information • Other Resources

  4. Money: How to plan for having it? • Budgeting is boring - but very useful • Keep track of everything • Maybe a business in future • If wanting to run like a business, be businesslike

  5. What are the alternatives to having money and resources? • Don’t have ‘em? Don’t need ‘em • Blag them - in kind donations • uni / local businesses...? • Advice + Money vs Money + Advice • Steal them • Find potential partners who do have ‘em

  6. Project Partners...What are they? • - to help you on the ground • - to help you from the top

  7. Benefits of Project Partners on the ground • Opens doors faster - easier access • Much of hard work already done • Learn from experts • Ensures sustainability • Big projects need them • Expansion: take advantage of network / roll out faster / more impact!

  8. Project Partners on the ground • How to find them? • Involve SIFE UK where necessary • Who did what?

  9. PP from Above • Expert network • May know of others with similar goals • Financial advice / aid...? • If they can’t help... • One example is MYM

  10. Matt Smith • Higher Education Campaigner • Make Your Mark

  11. Money - How to make more of it • Easy • More Complex • Difficult • The Ultimate • ITCs

  12. Easy Easier Resource Creators • Invest in your team’s future • Joining fee • On-campus event

  13. More Complex Fundraisers • Enterprise Competitions • Grants

  14. Difficult Money Spinners • Direct Sponsorship • In kind donations • Examples? • Entrepreneurial Ventures

  15. The Ultimate Fundraisers • As ‘Ent Vent’ but more • SIFE Projects that earn you money • Performance related pay • Share in business • Exercise

  16. Wilkinson Enterprise Grant • HSBC Financial Literacy Grant • HSBC FL Education Challenge Individual Topic Comp’ns

  17. Wilkinson Entrepreneurship ITC - Competition Process • Up to 10 x £500 Grants available • Extension of existing project or brand new one. • How effectively did the SIFE Team measure and demonstrate that it created economic opportunity by helping others to succeed as an entrepreneur and/or improve an existing business? • Basics of entrepreneurship: Identify a Need before satisfying it

  18. Wilkinson Entrepreneurship ITC - Competition Process • One application per team • 4x A4 sides max • Email jblundy@sife.org by 28 Nov ’08 • All winners submit progress report Apr ’09 • Overall winners win further £500 & Trophy at SIFE UK National Comp

  19. HSBC Financial Literacy Part 1: The Global Grant • International Competition • 75% Success rate in UK 2007 • $15,000 provided to teams • How effectively did the SIFE Team measure and demonstrate that it created economic opportunity by helping others develop the personal financial management skills necessary to achieve financial independence?

  20. HSBC Financial Literacy GrantCompetition Process • Applications submitted to SIFE UK Nov’08 • Applications sent to HSBC Dec ’08 • January ’09 winners announced, 50% funds paid to successful teams • Progress report required before release of 2nd half of award: July ‘09

  21. HSBC Financial Literacy Part 2: Education Challenge • Brand new this year • £1000 award. • Award for entire FL programme • Irrespective of success in Part 1 • Deadline March ’09 • Four teams selected to present at final of HSBC Financial Literacy Challenge

  22. Know what you want the resources for To recap... • There are many alternatives to having money • You can get more if you put your minds to it

  23. Any Questions...?

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