Disadvantaged and under-represented communities that want to develop successful community businesses by issuing community shares, can apply for development grants of up to £10,000 and equity investments of up to £100,000.
The funding is available to both new and existing community businesses. The funding is however not suitable for newly formed community groups that are in the early stages of developing a community business proposal. The funding is being made available through the Community Shares Booster Programme.
The funding will be in the form of equity held on equal terms with other community shareholders. The programme is run by the Community Shares Unit, a joint initiative between Co-operatives UK and Locality. Applications are accepted on a rolling basis, with grant and investment decisions made within eight weeks of application.