We all know social businesses can plot a way out of the financial morass. The Scottish Government is showing Westminster the way, pledging to make its nation the social enterprise capital of the world.
Now Big Issue Invest Scotland is giving a £1 million boost to help the social revolution fightback!
The Big Issue’s Scottish investment arm’s new Power Up programme, launched last week with a boxing workout at not-for-profit gym Projekt 42 in Leith, is backed by the Scottish Government, Edinburgh University, Aberdeen Standard Investments and legal partner Brodies LLP.
This initiative is going to make a really meaningful and positive impact across so many communities in Scotland
Early stage social ventures can apply for up to £50,000 loan funding. The 20 successful applicants will also receive mentoring and business development support.
At the launch MSP for Edinburgh Northern & Leith Ben Macpherson said: “This initiative is going to make a really meaningful and positive impact across so many communities in Scotland, including in Leith, and I’m very pleased to support it.”
John Montague, managing director of group operations at The Big Issue Invest, added: “A lot of fantastic early-stage social ventures across Scotland struggle to access small to medium-sized loans, so we are so pleased to be able to support them with the investment and expertise that they need to make an even greater difference within their communities.”