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First time grant application - guidance please
#1
Hi All,

Pleased to be involved in this membership and look forward to connecting with you all. 

I'm at the stage where I need to obtain funding, ideally in the form or a grant, in order for my business to grow and further increase its social impact whilst also funding a salary so I can support my financial obligations. 

I'm not comfortable taking funds out of the business, at this current stage, with a turnover of around £3k a month and naturally I am keen to make my business a full time venture. 

If anyone has experience of a social enterprise at this stage and can offer advise or direction on where to go for grants/funding then I would appreciate it. 

N.B - business plan, full financial forecasts and social Impact tests all ready to go.
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#2
(05-13-2020, 10:28 AM)Kris @ The Burnt Chef Project Wrote: Hi Kris, in Scotland there is the SCVO - Scottish Council for Voluntary Organisations and there are local charity groups for local areas - perhaps you could google something similar - e.g. <your region> voluntary groups / social enterprise help? Don't let the "voluntary" bit put you off - it's more about charities / social enterprise etc.  
Cheers
Anna
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#3
(05-13-2020, 10:28 AM)Kris @ The Burnt Chef Project Wrote: Hi All,

Pleased to be involved in this membership and look forward to connecting with you all. 

I'm at the stage where I need to obtain funding, ideally in the form or a grant, in order for my business to grow and further increase its social impact whilst also funding a salary so I can support my financial obligations. 

I'm not comfortable taking funds out of the business, at this current stage, with a turnover of around £3k a month and naturally I am keen to make my business a full time venture. 

If anyone has experience of a social enterprise at this stage and can offer advise or direction on where to go for grants/funding then I would appreciate it. 

N.B - business plan, full financial forecasts and social Impact tests all ready to go.

Hi Kris,

Sucess in funding can be dependant on a number of factors. In our experience, it is better to be specific in what you need. We would suggest you consider what you need to develop your organisation, i.e. assets, resources, staff, training, marketing, product and service development etc. Once you have clarity.. pop on to www.fundingcentral.com and search for the appropriate funders, using your criteria.
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#4
Thank you. Funding would be to cover paid advertising and, in turn, assets. The point of taking payment to the payment clearing in the bank is only 7 days so cash flow shouldn't be too much of an issue.

Grant ideally in order to scale but a social investor would be considered providing terms were reasonable.
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#5
I'm fairly new to grant funding applications but one of the things I am finding for the ones I have done to date is that you need to build a project/funding budget and plan and be very specific in terms of what you would need the funding for, whether this is on a project basis or covering business costs. We mainly work on a project basis so this makes it easier for us to look at grant funding options, and then we build staffing, marketing, base costs into the budget for the project.
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#6
(05-13-2020, 07:41 PM)helen_eventwell Wrote: I'm fairly new to grant funding applications but one of the things I am finding for the ones I have done to date is that you need to build a project/funding budget and plan and be very specific in terms of what you would need the funding for, whether this is on a project basis or covering business costs. We mainly work on a project basis so this makes it easier for us to look at grant funding options, and then we build staffing, marketing, base costs into the budget for the project.
Thanks Helen. I have the forecasts and funding requirements all ready to go. Just need to find an interested lender to be fair. 

Thank you for your response ☺
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#7
Is it predominantly a grant you are looking for or have you considered alternative finance options, such as social investment? Good Finance has a lot of information around finance options for social enterprises:
https://www.goodfinance.org.uk/

There is also information on emergency finance packages that have been released in response to Covid-19:
https://www.goodfinance.org.uk/latest/po...-emergency
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