Posted on: Thursday 25 July 2024
Grants are being offered to eight social enterprises to help secure their long-term financial stability.
There are estimated to be more than 30 social enterprises in Torfaen, including social care providers, recycling projects and food co-operatives.
Traditionally, these businesses rely on short-term grants, alongside alternative forms of funding.
Now, eight grants of up to £50,000 are being offered, alongside a package of training and support aimed at identifying new, sustainable income opportunities.
The Social Enterprise Challenge is being run by Torfaen Council’s Building Resilient Communities and will also include help to develop a 12-month sustainability model.
Organisations interested in taking part in the programme can register an interest by emailing CommunityResilienceGrants@torfaen.gov.uk by Wednesday 31 July.
Cllr Fiona Cross, Executive Member of Communities, said: "This is a great opportunity for Torfaen social enterprises to make a lasting difference to their organisations and local communities.
"This challenge aims to help them to become more independent and less reliant on short-term pots of funding, so they can create real and sustainable change."
Eligible social enterprises will be notified and sent an application pack. Applications will need to be submitted in August.
In September last year, the Healthier Communities Overview and Scrutiny Committee considered a report outlining the economic and societal value of social enterprises.
The Social Enterprise Challenge has received £450,000 from the UK Shared Prosperity Fund.