Social Investor Big Issue Invest receives £325k grant from Places Foundation
In a significant move to support social enterprises across England and Scotland, The Places Foundation, an independent charity backed by the Places for People Group, has announced a collaboration with Big Issue Invest. This partnership aims to provide loans for up to 20 social enterprises over the next five years.
The first round of investment has already been distributed to nine social enterprises. Among them, FC United of Manchester, a community benefit society football club owned by members, received £150k. The Leicester Riders Foundation, a charitable organisation delivering community programs to young people and children, received a similar amount.
One of the recipients is Hey Girls, a Scottish-based social enterprise tackling period poverty. Celia Hodson, the founder of Hey Girls, stated that the support from Big Issue Invest will enable the company to grow and expand its social reach. In the past twelve months, Hey Girls donated 2.4 million products, and for every pack bought, they give a girl or woman one pack of products.
Another recipient is A Place to Call Our Own, an independent special school and alternative education provider, which received £75k. Running Deer, a Devon-based social enterprise, received £135k to support long-term unemployed people.
The Campus Skate Park in Bristol also received £55k, while Wolverton Community Energy, a community benefit society based near Milton Keynes, received £257k. Link Redcar CIC, based in Redcar, received £40k for therapeutic services to children, young people, and families across the North East.
Talking Mats, a social enterprise that provides tools, training, and research for speech therapists, received £75K. The Places Foundation, supported by the Places for People Group, aims to help people fulfill their potential.
It's important to note that over 137,000 children in the UK missed school due to period poverty in 2018. With the growing number of social enterprises focusing on tackling such issues, there is a glimmer of hope for a more equitable future. For more information about Big Issue Invest and the social enterprises they support, please visit bigissueinvest.com.
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