At the dawn of Community Business Weekend, Power to Change today announces its backing for Match Trading™ as a tool to support the growth of community businesses. Match Trading an innovation Match in grant-funding that incentivises social enterprises and community businesses to grow through trading, created by School for Social Entrepreneurs (SSE). It has been developed with the support of pioneer partners Lloyds Banking Group and Big Lottery Fund, and programme partner Power to Change.
Match Trading is grant-funding that pound-for-pound matches an increase in trading income. By rewarding sales growth, Match Trading empowers social entrepreneurs and community business leaders operating in challenging markets to develop their trading base, so they can build sustainable futures.
Power to Change is partnering with SSE to use Match Trading grants to support the growth of community businesses in England through their Community Business Trade Up Programme.
The programme is accepting applications until Wednesday 11th October, to support 100 community businesses across England in 2018.
The programme consists of a six-month learning programme and a Match Trading grant of up to £10,000.[i] It aims to support growth through trading.
The programme currently supports 30 community businesses, benefitting from a six-month learning programme with either SSE North West or SSE London, and a grant of up to £10,000. Two-thirds of participants are being incentivised to increase trading with a Match Trading grant.
Alastair Wilson, CEO of SSE, says: “Community businesses and social enterprises often have a higher cost base than traditional commercial businesses, because they build in so much impact into their work – yet this impact is invaluable. We believe grant-funding is a vital tool to support these organisations, but we know that over-dependency on traditional grant can leave them vulnerable, and distract them from developing trading activities. Match Trading is grant-funding that incentivises trading, helping these organisations to build more sustainable futures. We are delighted to be partnering with Power to Change to support the growth of 130 community businesses, 100 of whom will access Match Trading grants, as part of our Community Business Trade Up Programme.”
Mark Gordon, Director of Communications and Partnerships at Power to Change, said: “This is such an important programme, at a time when community businesses in England are growing in number and size. With Community Business Weekend about to showcase everything they do for their local areas, this will give yet another boost to the movement.”
Match Trading will support at least 500 social enterprises and community business leaders by 2022 through the Community Business Trade Up Programme, run by SSE in partnership with Power to Change, and the Lloyds Bank and Bank of Scotland Social Entrepreneurs Programme, in partnership with SSE and jointly funded by Big Lottery Fund.
Organisations interested in applying to the Community Business Trade Up Programme by 11th October should visit: /www.the-sse.org/community-business
Anyone interested in Match Trading can visit: www.the-sse.org/match-trading
[i] Of the 100 community businesses partaking in the Community Business Trade Up Programme in 2018: 80 will receive Match Trading grants of up to £10,000, and 20 will receive traditional grants of £10,000, to act as a control group.