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Social Enterprises: Finance

Volume 486: debated on Wednesday 21 January 2009

To ask the Chancellor of the Duchy of Lancaster how much the (a) Futurebuilders fund, (b) Adventure Capital fund, (c) Community Builders fund and (d) UnLtd have disbursed to social enterprises and social entrepreneurs since each was established. (248215)

The amount of funding from these organisations specifically allocated to social enterprises is not available. Social enterprises are not defined by a particular legal form and as a result are not required to register with any one body or specifically identify themselves as such. However,

(a) Futurebuilders has disbursed £50 million to over 260 third sector organisations looking to build their capacity to compete for and win public service contracts. Of these organisations, we anticipate that many of these investees will be social enterprises.

(b) The Adventure Capital Fund has disbursed a total of £10,279,749 to date. Many of these will also be social enterprises.

(c) The £70 million Communitybuilders fund is currently procuring a national partner and it is intended that the partner will begin disbursing monies in the summer of 2009. It is anticipated that many of the recipient organisations will be social enterprises.

(d) UnLtd is an independent organisation that provides cash funding, practical support and networking opportunities to around 1,000 social entrepreneurs per year across the UK. The Office of the Third Sector does not fund UnLtd grants. Details of UnLtd grant recipients to date are available in their annual report and accounts