From April 2007, the Department of Health is holding a Social Enterprise Investment Fund (SEIF) of £100 million over a four year period (£63 million capital and £27 million revenue from 2008/09 to 2010/11).
- In 2007/08, £1.7 million revenue and £8.9 million capital money was available to new and existing social enterprises*, delivering health and social care services, who applied successfully for this funding.
- In 2008/09, we are making a further £11 million capital and £6 million revenue funding available to new and existing social enterprises.
The SEIF is currently managed by a specialist team led by the DH-owned company Community Health Partnerships. It works closely with the Social Enterprise Unit and an independent investment panel to assess applications to the fund. We are reviewing the first round of the fund and will apply learning to future application rounds and the further development of the fund, in order to respond to the needs of social enterprises and the experience gained from social enterprise pathfinders.
* The government defines a social enterprise as ‘a business with primarily social objectives whose surpluses are principally reinvested for that purpose in the business or in the community, rather than being driven by the need to maximise profit for shareholders and owners.
Posted in Funding | Tags: Health, Social Enterprise
