Fightback Britain! - A Social Enterprise Fightback Hull and Holderness?

FIGHTBACK BRITAIN, published this month, documents the largest analysis of the social enterprise sector in the UK. It has revealed that a new breed of younger social entrepreneurs are starting businesses in the country's most deprived communities. These social businesses are tackling deprivation and social problems whilst becoming accountable to their customers, involving them in decision-making.

The report published by Social Enterprise UK and supported by the Co-operative Bank details that three times as many social enterprises as mainstream businesses are operating in the UK’s poorest areas (39% compared to 13%) – where a third of all social enterprise start-ups have originated.

In what is termed as "The start-up explosion", the report states that 14% of all social enterprises are start-ups, less than two years old – which is more than three times the proportion of start ups among mainstream small businesses. The recession, rather than putting people off this form of enterprise, is acting as a catalyst. Fightback Britain says:

"The UK’s economic woes have hot-housed the need for a business model that delivers sustainable economic growth while fostering social change and innovation. Damage to the reputation of important parts of the UK economy in the wake of the financial crisis, cuts to public services, and concern for how civil society can suffer cuts and continue to care for its most vulnerable members, have brought social enterprise to the fore."

Hull and Holderness could be on the verge of its own enterprise revolution - the ingredients are all there:

• The recent announcements about the Enterprise Zone and the KC Invest fund; 
• a recession-hit population in which deprivation and social problems have been highlighted; 
• mass unemployment and the threat of unemployment convincing would-be entrepreneurs that now just might be the time to try something different.

Social Enterprise - and support for social enterprise - now needs to be factored into this mix!

You can download the Fightback Britain report for free from the Social Enterprise UK website.

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KC investment fund - Sirius to support new digital and technology businesses

KC INVEST is the name of a new investment fund of £300,000 established by KC to provide start-up and growth financing for businesses in the digital and technology sectors. This funding will be matched by European Regional Development Funds creating a potential investment pot of up to £600,000.

KC Invest aims to help stimulate the local economy and business growth in Hull and the East Riding. It will be administered by two enterprise agencies, one of which is the Hedon-based Sirius Business Advice Centre. Sirius will receive £150,000 from KC Invest to distribute as loan financing to business start-ups and businesses that are expanding in the East Riding.

People who apply for KC Invest funding through Sirius will also be able to access to mentoring and support to make sure their fledgling business has the best possible chance of long-term success. Feasibility grants will also be available to explore business ideas where more market research is needed before financing is agreed.

Alan Gordon-Freeman, Managing Director of Sirius, said: “This is a fantastic opportunity for those involved in technology to develop and grow their own businesses. The funding can help to attract other forms of finance as well as bring other specialist support such as business management and marketing. KC should be applauded for this innovative community support; it will certainly go a long way in helping to create new businesses, new jobs, local wealth and more career choices in the future.”

KC is hosting a seminar on Friday 9th September at the Hallmark Hotel in North Ferriby where local businesses and business support agencies can find out more about how KC Invest is set up and how it operates. The seminar will be opened by Alan Johnson MP. To register to attend email invest@kcom.com or call 01482 602396.

People in the Holderness and East Riding who are interested in applying for KC Invest finance can contact Sirius at 01482 890146.

The contact enterprise agency for the Hull area is the Acorn Fund on 01482 324976.

Find out more about KC Invest at the KC in the Community website.

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