Transforming health and social care: the Social Enterprise Investment Fund

Posted on June 17, 2009. Filed under: Reports/papers, Social enterprise |

Department of Health | 17 June 2009

This document contains information and guidance about the Department of Health’s Social Enterprise Investment Fund (SEIF) and how the fund supports social enterprises in health and social care.

Download Transforming health and social care: the Social Enterprise Investment Fund (PDF, 1004K)

 

 

A fund to transform health and social care

We want health and social care services to be available to everyone on an equal basis. We want them to be locally responsive, high quality and inclusive, especially in areas of social deprivation. This is a mission that lies at the heart of the National Health Service. But achieving our goal is not always easy. It requires creative thinking and new forms of delivery.

So the Government supports the development of social enterprises – innovative service delivery businesses with explicit social aims, whose profits are predominantly ploughed back for the good of the communities they serve.

The £100m Social Enterprise Investment Fund (SEIF) helps this process. The SEIF provides advice as well as seed funding for social enterprises that are starting up. It also offers development loans for established businesses delivering health and social care services.

Funded organisations include charities, community interest groups, and companies limited by guarantee. Funding awarded ranges from research and development costs, through to payment of salaries and to the purchase of equipment and buildings.

The Fund is managed from June 2009 for the Department for Health by Futurebuilders England, working in partnership with Partnerships UK.

What is a Social Enterprise?

 It’s a business with primarily social objectives whose surpluses are principally invested for that purpose in the business or in the community, rather than being driven by the need to maximise profit for shareholders and owners. There are more than 55,000 social enterprises in the UK, with an annual turnover exceeding £27 billion.
What does the Social Enterprise Investment Fund offer?

From June 2009, the SEIF offers:

  •  Loans – they can be used for property, development capital, working capital, bridging finance (until business income starts to flow), to support a merger or to tender for a public service contract.
  • Grants – these can be used to support a new project being set up, for start-up costs, staff costs or other transitional costs. They can also be used for the cost of buildings, vehicles or equipment.
  • Business support – advice on a range of issues: business plans, cashflows, business models, market analysis, marketing, governance and leadership structures, risk analysis, management accounts, client relationships, partnership management, transition management and social return analysis.

If you are already – or wish to start up – a social enterprise delivering innovative improvements to health or social care, you can apply for a loan, grant or business support from the SEIF.

More information about the Social Enterprise Investment Fund can be found at www.dh.gov.uk/seif

Social Enterprise Investment Fund

Care to make a difference?

The Social Enterprise Investment Fund (SEIF) provides investment to help new social enterprises start up and existing social enterprises grow and improve their services. We work to support social enterprises in the delivery of innovative health and social care services.

The Fund was set up in 2007 as part of the Government’s plans for stimulating expansion in the role of social enterprise in the provision of health and social care.

By enabling social enterprises to deliver health and social care services, the Social Enterprise Investment Fund aims to improve the quality of services for patients.

Social enterprise

Transforming health and social care: the Social Enterprise Investment Fund


 

Who can apply?

Social enterprises that can apply to SEIF include:

  1. Multi-agency partnerships, particularly voluntary and community groups wishing to use their expertise to provide services across health and social care
  2. Existing social enterprises looking to expand into health and social care
  3. Groups of professionals, such as nurses or therapists, seeking to form a social enterprise to deliver their services using the ‘right to request’ – see link below
  4. All social enterprises who apply would be expected to have a ‘not for profit’ status.

    Social Enterprise – Making a Difference: a guide to the Right to Request

     

     

    Fund managers

    The Social Enterprise Investment Fund is managed on the behalf of the Department for Health by Futurebuilders England, working in partnership with Partnerships UK.

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