New BAME support programme looks to build business strength and help excluded communities explore social investment

7 January 2019

Social Investment Business launch Diverse Ambitions - a support programme and fund referral scheme for BAME charities and social enterprises in the Greater London area.

Applications are now open for Diverse Ambitions, a business support programme that aims to help BAME organisations by increasing their growth, social impact, financial resilience and put them in a better position to raise social investment.

This new programme, fully funded by Social Investment Business, will help challenge the imbalance faced by BAME communities across London by offering practical support and guidance to charities and social enterprises that work to improve diversity, inclusion and equality.

Consultancy support, an interactive workshop and an organisation ‘health-check’ are some of the business boosts on offer for 20 successful applicants.

As a pilot, the programme will focus on London – a city with a high wealth disparity and one of the highest concentrations of BAME organisations in the UK. Organisations can apply from all 32 London boroughs.

The origins of Diverse Ambitions stem partly from research into social investment programmes. A recent example of this was the fund evaluation for Big Potential which identified that BAME organisations were less likely to be able to take advantage of social finance opportunities, due to their lower ‘investment readiness’ scores.

The programme was also inspired by ongoing work with BAME voluntary sector experts Voice4Change.

Nick Temple Chief Executive of Social Investment Business said:

“We know from our work managing investment funds and programmes that BAME-led organisations do not receive support in proportion to their numbers. We’re interested in understanding how we can best overcome the challenges and barriers that are in place, which are themselves diverse.

This pilot, designed by the team at SIB in partnership with others, aims to provide direct support but also to inform our own future work and that of the wider sector.”

Diverse Ambitions is one of several diversity initiatives Social Investment Business has encouraged, which includes its involvement in the Equality Impact Investing project, and the social investment Diversity Forum. It has also supported organisations, such as ACH, who have tried to level the playing field with their own BAME-inclusive finance product.

The Diverse Ambitions business support programme is now open for charities and social enterprises based in London. The deadline for applications is the 31st January. If you have a question about the programme please contact: diverseambitions@sibgroup.org.uk

HOW TO APPLY

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The Social Investment Business is the trading name for the Social Investment Business Foundation, Registered Company No. 05777484 (England), Registered Charity No. 1117185 (England & Wales), The Social Investment Business Limited, Registered in England No. 06490609, VAT No. 927456693, Futurebuilders-England Limited, Registered in England No. 05066676 and Forward Enterprise FM Ltd, Registered in England No.11238102. Registered Office: CAN Mezzanine, Borough, 7-14 Great Dover Street, London, SE1 4YR.

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