Social Investment Business to deliver Future Camden Fund to help grow local start up business and social enterprises

The fund will support local entrepreneurs from backgrounds that are often locked out from other sources of finance, including those often from Black, Asian and Minority Ethnic backgrounds, those with a disability, care leavers and female business founders.

At the start of the scheme, up to £150,000 will be distributed in grants to local businesses, with a further £400,000 to be allocated for other new businesses later in the year in a mix of funding, including repayable grants.

The fund will also offer a whole host of free business support to recipients including mentoring, learning courses and peer support. Businesses and social enterprises can apply to access the funding by clicking here.

Councillor Danny Beales, Cabinet Member for Investing in Communities, Culture and an Inclusive Economy said:

“In Camden, we’re at the forefront of supporting start-up businesses, with recent research indicating that Camden has the highest number of start-ups in London. We are committed to assisting all of our residents to achieve their own business goals. No one should be prevented from launching their own business because of where they were born, their background, or that they may lack family financing. If people have promising business ideas, we want to make sure they can make them a reality in Camden. The Future Camden Fund is the first of its kind for a London borough and is an exclusively local impact fund that combines grants with a repayable element, alongside free business support. I’m certain this fund will go a long way to support local new businesses and entrepreneurs across the borough and to help make sure our local economy is not only growing, but also growing more equally across all our communities.”

Nick Temple, Chief Executive, Social Investment Business:

“We are delighted to partner with Camden Council on the delivery of the Future Camden Fund. This place-based grant scheme will strengthen the borough’s network of social enterprises and is particularly helpful for local entrepreneurs that have struggled to access finance from other sources. Prioritising diversity in organisational leadership will help to ensure that the social economy reflects the diversity of the communities that live and work in the borough. We think this is a great opportunity to work with the council to support a fairer, more inclusive local area underpinned by a thriving social enterprise sector.”

If you would like to apply for a grant or loan through the Future Camden Fund you can apply directly on the Camden Council website. Applications are open from 24^th January 2022 and close on the 29^th January 2022.

The Future Camden Fund website

If you have a question about the application process or would like to discuss the fund in more detail, please contact:

Grants team: grants@sibgroup.org.uk, 020 3096 7900.

For media enquiries contact:

Anissa Morris, Marketing and Social Media Officer

Email:  anissa.morris@sibgroup.org.uk

Image Credit: Photo from the Gloucestershire Gateway Trust (GGT) – a community development and regeneration charity that received funding from the predecessor to the Recovery Loan Fund (the Resilience & Recovery Loan Fund). GGT used this funding to provide the local community with food supplies and wellbeing support during the pandemic (photo credit: Thousand Word Media).