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What Are The Likely Other Sources Of Finance For Social Firms?

Social Firms must receive at least 50% of their income from trade. What are the likely other sources of finance for Social Firms?

In reality most Social Firms earn much more than 50% of their income through trade and the average is around 85%. The rest of the income that Social Firms receive will be from a variety of places. It may be a mixture of income streams or just one or two.  Other sources of additional income are such things as:
    annual grant funding from a charity or local authority. The annual grant funding from a local authority is very rare now but grant funding from a charity is not unusual where the charity is the parent of the Social Firm. Quite a few Social Firms have been formed by a charity that continues to provide additional funding to support growing Social Firms. The support is often 'in kind' e.g. marketing and HR services or the provision of premises rather than money;
    a number of Social Firm do offer employment training to service users (usually people referred by the local authority) and for whom the  Social Firm has a contract. This contract is not usually considered as income earned through trade. The only time it would be counted as income through trade is where the severely disadvantaged employees of the business are actively working with the service users as a part of delivering the contract.
    funding (e.g Big Lottery) for a particular time limited project;
     grant funding from a grant giving trust, again time limited (often 3 years) for a particular project:
    a off one grant, usually from a grant giving trust but could be from a local authority (rare). Usually provided as start up money for a particular initiative:
    Workstep. Workstep is a national government scheme. Some Social Firms have Workstep contracts which means they receive some finance to support the enterprise and some disabled staff. 

What Are The Likely Other Sources Of Finance For Social Firms?

Back to What Is A Social Firm?

>What Is A Social Firm?

>What Is The Difference Between Social Firms And Social Enterprises?

>What Is The History Of The Social Firm Movement?

>What Are The Main Issues Facing Social Firms At The Moment?

>How Do I Set Up A Social Firm? Is There Any Guidance On The Structure, Finance And How It Should Be Run?

>I Have An Idea For a Social Firm. How Can I Tell If It Will Work?

>Is There An Accreditation System To Show You Are A Social Firm?

>What Types Of Training And Business Support Are Available To Social Firms?

>How Can We Externalise Our Project From The Local Authority? Are There Any Examples Of When This Has Been Done Successfully?

>I Run A Social Firm. Can You Recommend An Insurance Company Sympathetic To Social Firms?

>Is There A List Of Consultants Who Have Expertise In Social Firms?

>Where Can I Find A List Of Social Firms In My Region?

>How Can I Find A Job In A Social Firm?

>What Work Options Are There For A Disabled Person Following A Long Period Of Unemployment?

>Where Can I Find Information About Benefits Allowances And General Benefits Advice?

>What If A Private Investor Wants To Get Involved In Setting Up A Social Firm?

>Are There Organisations Equivalent To Social Firms UK In Other Countries?

>I Am Coming To The UK And Am Interested In Comparing Social Firms Here To Those In My Country. Is It Possible To Visit Any Social Firms?

>What Are The Issues About Having Trustees With Learning Difficulties?

>What Is A CIC (Community Interest Company)?

>What Is A Social Entrepreneur?

>Why Should I Join Social Firms UK?

>How Do Social Firms Sit Within The Spectrum Of Employment Provision For Disabled People?

>Why Was The Definition Of A Social Firm Broadened To The 'Severely Disadvantaged' In 2006

>What Is A Social Enterprise And What Types Are There?

 
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