What is funding for?
Boost It is a pilot new fund to help social enterprises that have been trading for up to three years to strengthen their businesses so they can successfully sustain trading. It can also help social enterprises at the start-up stage if they need an injection of capital to be able to test an idea.
You can apply for any amount between £30-50K as a repayable grant. Some examples of what you can use the funding for include: buying stock of your product, purchasing equipment or investing in digital infrastructure, staff wages, amongst others.
Who can apply?
Boost it is the right fund for you if you:
- Have a social enterprise idea and want to get it off the ground, but need an injection of capital to get started. You must have a legal structure already in place.
- Your social enterprise has been trading for up to three years but needs further support to increase your trading activity and become sustainable.
Your social enterprise must have a strong business model and have identified (or already undertaking) income-generating activities.
You must also meet our eligibility criteria, which can be downloaded and read in full in the Downloads section at the bottom of this page.
When do I repay my grant?
After year one, and only once your enterprise starts making a surplus, the repayments kick in. You will repay a small proportion of your profits (agreed on receipt of award) over three years.
How do we assess the application?
Following the application deadline on 3rd February, we will assess all applications against our criteria and the strongest applications will be shortlisted.
If you are shortlisted, you will be expected to attend a Practice Your Pitch session in the lead up to a compulsory pitch to our panel on Thursday 26 March. All applicants will hear back as to whether they have been successful before the panel date, and any unsuccessful applicants will receive written feedback.
Boost It focuses on supporting ideas tackling the Climate Emergency- circular economy, carbon reduction, etc. Boost it is awarded twice per year.
Have any questions?
Check out our Frequently Asked Questions. If you can’t find the answer you are looking for, get in touch via our Contact Us page, by phone or use our LiveChat feature.