​Cash is available to groups which can demonstrate sound development plans

Social Investment Scotland (SIS) has launched a new funding challenge to help third sector organisations grow their business in 2018.

The Growth and Replication Challenge is open to charities and social enterprises across Scotland with strategies for growing their organisations.

It is prepared to invest between £100,000 and £1 million in organisations that it believes have successful growth plans.

Examples include a community sports club which is looking to grow its services and capabilities or a social enterprise food and drink business looking to expand its offering in a new area.

Alastair Davis, SIS chief executive, said: “We know there are hundreds of talented organisations across the country with big ideas and the right people to deliver them, but they just need advice and finance to bring these plans to fruition.

“That’s where the Growth and Replication Challenge can help.”

The challenge will provide bespoke business support from SIS, alongside tailored finance, to turn plans into reality.

Successful applicants will receive professional business support worth up to £10,000.

The support programme will help to address issues including social impact, governance, products and services, people and skills, business planning, sales and marketing as well as financial controls.

Finance can be obtained with up to three year arrangements to allow the new development to get up and running and up to 13 years fixed term to provide confidence on future costs.