Camden Council have partnered with SSE on the second round of the Future Camden Fund, which is now open for applications to help impactful start-up businesses and social enterprises in Camden grow and thrive.
SSE is excited to partner with the Inclusive Economy team at Camden Council, as they offer a number of Match Trading™ grants to local social enterprises and impact drive start-ups based in the district. The incentivised grants, developed by SSE since 2016, will be delivered as part of the Future Camden Fund. Last year, the Council awarded £165,000 to start-ups that deliver social value to local people through a wide range of work, including education, arts and culture and wellbeing. The Future Camden Fund is part of Camden Council’s programme of finance and support for businesses that are building a better future for the Camden borough and its communities. An additional £350,000 is now available for businesses to apply for two types of funding: Match Trading grants and loans. Social enterprises enrolled onto the Match Trading element will be incentivised to grow their income from trading; each additional £1 a business makes over a year will be matched with £1 in grant funding, up to a capped amount. Loans of £10,000 to £50,000 are also available, repayable over three years with a flat 5% interest rate. The fund will also offer a whole host of free business support to recipients including mentoring, learning courses and peer support.“Camden continues to be the best place in London to do business – already the borough has seen the highest number of new businesses set up than in any local authority area this year. In 2022, we launched the Future Camden Fund, a local impact fund that was the first of its kind for a London borough, which supported 11 grassroots social enterprises delivering real benefits to local people. This round we are pledging an additional £350,000 in funding for local businesses alongside a package of free business support that considers and celebrates the diversity of our borough’s entrepreneurs. We are committed to making Camden’s local economy strong, sustainable, and inclusive. No one should be prevented from launching their own business because of their background or barriers to finance and our new affordable loan and Match Trading offer will continue to support growth while benefiting local communities”. Councillor Danny Beales, Cabinet Member for New Homes, Jobs and Community Investment
The funding round will continue to support local entrepreneurs from backgrounds that are often locked out from other sources of finance, including those from Black, Asian and other ethnic community backgrounds, those who are disabled, care leavers and female business founders.
Successful applicants will also receive free support to help grow their business, including consultancy, courses and networking. The Council has commissioned charity Action for Race Equality to deliver business support that considers the diversity of Camden’s business community, and the different experiences and barriers individuals may face. Businesses will also be able to access online learning materials from the School for Social Entrepreneurs.
Applications open on Monday 2 October and will remain open until the funding has run out.
The Future Camden Fund will seek to support start-ups to grow their products and services that support inclusive job creation and growth, sustainability, and the environment.
For more information on the scheme and to submit an expression of interest, please visit camden.gov.uk/future-camden-fund.
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Press contacts available for questions
- Robin Chu, director of strategic projects, at School for Social Entrepreneurs [email protected]