Santander launches funding competition for growing social enterprises

This is the fifth year the awards have been running, with 316 social ventures supported since 2011 making awards of more than £5 million.

The awards are open to social enterprises and trading charities which are providing training or employment opportunities, tackling social exclusion or environmental impacts. Awards are available to fund equipment or a service which will help the enterprise to grow.

There are two categories:

Enterprising Charities Growth Award – £5,000 and £10,000 for charities and community groups looking to increase their trading.
Social Ventures Catalyst Award – £5,000 and £10,000 for social enterprises and Community Interest Companies looking to grow their business.

To be eligible the enterprise must have been trading for at least a year, with a minimum turnover of £25,000 for the £5,000 award and £75,000 for the £10,000 award.

Steve Pateman, Head of UK Banking at Santander, said: “The Santander Social Enterprise Development Awards are designed to offer support for social ventures looking to grow. The winning social enterprises not only get the benefit of the funding, but will also receive a business support package from Santander which includes business webinar presentations, fully funded internships, consultancy days and the opportunity to network with other social entrepreneurs and small business owners.”

Santander has a comprehensive programme of support for social entrepreneurs and social ventures aimed at helping the social enterprise sector to grow. In addition to SEDA, the bank is providing funding to UnLtd for Spark which enables social entrepreneurs to share their knowledge and experience of setting up a venture and SE UK’s SE Places scheme which is promoting areas of the UK where social businesses are thriving.

For further information, guidelines and to enter visit www.santanderseda.co.uk

The closing date for entries is 10 April with judging taking place in May. The winners will be announced in June.

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