In terms of Enterprise, organisations may seek funding to increase
Capacity: Some organisations can identify ways in which they could generate income i.e. through the delivery of training, through the development of products or through establishing trade (community cafés, selling locally grown produce etc) but don’t have enough staff time to commit to developing such initiatives.
Skills Gap: Some organisations have ideas and some capacity to develop them but feel they lack some skills and/or specialism in certain aspects i.e. planning, financial modeling or marketing.
Fresh Outlook: Some organisations may require some time out of the day-to-day experience in order to generate new ideas and explore the opportunities available to them. Sometimes we can’t see the wood for the trees and time spent in a new environment can be of great benefit and lead to new initiatives.
Some good examples…
Examples of enterprising projects include: community cafes, training local people to deliver low-cost commercial services such as dog walking, gardening or DIY, growing and selling food and delivering full-cost training into commercial or public sectors.
The scale of Enterprise is wide reaching, there is no ‘one size fits all’ model and organisations determine their own Enterprise journey. By its nature, Enterprise proves itself – either by a strong social impact or a financial return on investment but preferably both.
We recognise that some organisations will always exist to deliver very bespoke and dedicated services, without the opportunity to generate income through mixed economy routes. For this reason, The Rank Foundation will always provide grants for the delivery of care, particularly for those who are most vulnerable.
Investing in enterprise along with both care and leadership is a strong statement from The Rank Foundation. If we care for the most vulnerable, if we invest in our community leaders, if we trust in our ability to have and to sustain good ideas, there is a lot to be hopeful about.