Early-stage social firms get financial backing
Four social ventures are set to thrive after being awarded £500,000 of investment.
The groups were chosen as part of this year’s Big Issue Invest programme, Power Up Scotland lending scheme that offers investment, advice and support to early-stage social ventures across Scotland.
The social ventures are: Ayrshire Women's Hub, Brave Strong Beautiful, National Support Network and Wee Seeds.
Big Issue Invest’s Power Up programme, launched in 2017, was opened to organisations across Scotland from October to January this year.
The funding scheme aims to enable organisations to build on the good work they currently do within their communities. Whether it’s buying equipment, hiring new talent, or progressing with business development plans. Successful applicants receive mentoring and business development support to social ventures for the two-year period.
Danyal Sattar, CEO of Big Issue Invest, said: “It is challenging for social ventures to secure early-stage funding. We are, therefore, so pleased to work with our brilliant partners in Scotland, to support these organisations with the business development expertise alongside the investment, to get through this crucial early stage.
“The work these social ventures do in their communities is makes a real difference and it has been an honour to help them take this further.”
Christina Cran, Founder and CEO of Wee Seeds, said: “Wee Seeds was born pre-pandemic, from my need to help my own son after he showed signs of anxiety following my life-changing diagnosis of Type 1 Diabetes.
"But it is even more relevant today, given the impact of Covid on our children's mental health. We have a tremendous opportunity to bring mindfulness to the early years and shift the mental health agenda for decades to come.
“The loan from Big Issue Invest will enable us to work towards that shift, power up our business ambitions, help future generations deal with the impact of Covid, and plant the seeds of positive mental health in our young people.”