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Scottish community enterprises benefit from bag charge |
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5 Jun 2015, 7:53 PM
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Social Investment Scotland (SIS) has awarded almost £156,000 funding to five community based social enterprises across Scotland, thanks to money raised in the first six months by Asda’s Community Capital Fund through the Scottish Government’s 5p single use carrier bag charge.
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The investments have been made through a unique partnership between SIS and the retailer, following the supermarket’s pledge to donate half of the funds from the bag charge to support innovative social enterprises and community projects across Scotland.
The partnership, the first of its kind in the UK, has allowed Scotland’s leading funder to the third sector SIS to distribute half the proceeds through loans, helping five third sector organisations who otherwise would find it difficult to access funding. The remaining proceeds from the Community Capital Fund are being distributed by Foundation Scotland, in small grants to community projects.
The five successful applicants that will receive investment include ‘real bread’ bakers – Breadshare, West Lothian Artistic Gymnastics Club, Cumnock Juniors Community Enterprise SCIO, conservation group Green Aspirations Scotland CIC and North Highland Radio. Each of the organisations will receive investment capital of between £10,000 and £50,000 to help them continue delivering positive social impacts within their local communities.
Interest will not be charged during the first year of investment and from the second year, all interest raised on the Community Capital loans will be reinvested to support more good causes, delivering sustainable social impact in communities across Scotland.
SIS Chief Executive Alastair Davis and Head of Community and Corporate Responsibility for the supermarket Richard Mason met with Directors and employees of Edinburgh-based Breadshare in Portobello to witness how the funds would be put to use.
The bakery project is a non-profit-distributing company that aims to make healthy and organic bread more accessible. The organisation, which started its journey in 2012, will receive £30,000 to develop a franchise of community bakeries across Scotland, delivering healthy and nutritious bread at an affordable price.
Alastair Davis said: “As a community bakery, this is an excellent example of a third sector business playing an increasingly crucial role in fostering thriving communities through local job creation, community engagement and economic development. As well as providing “real bread” for sale at wholesale and retail outlets, the organisation strives to involve all members of the community in this process and also supports several other local businesses through their delivery contracts as well as selling their goods. We are delighted to support this worthy organisation with their franchise based expansion plans.”
Debra Riddell, Business Development Manager added: “Since Breadshare launched in 2012 we’ve had to relocate the organisation to larger premises to ensure the supply of our products meets growing demand. Additionally, we now have over 20 volunteers a week, who learn about bread making and acquire invaluable skills at our new Portobello bakery. Thanks to the support of SIS and Asda we are able to bring the benefits of this project to communities across Scotland.”
The second round of Community Capital Funding is now open to applicants; Asda and SIS are keen to hear from more community projects across Scotland looking for investment to support future growth and expansion. For more details please visit www.socialinvestmentscotland.com.
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