Exeter charities gear up for new funding for community projects

Exeter charities came together last week to discover how social investment is an alternative source of funding for community projects.

The day was a free workshop hosted by Exeter CVS on Wednesday 18 February.

It was set up by the National Council for Voluntary Service (NCVO) in collaboration with Big Society Capital, the UK’s first social investment bank, to explore the different types of social investment available as well as its potential to transform local services.

Social investment is already being used to fund several projects in Devon including the Holsworthy Community Property Trust, a charity which provides affordable housing to local people who are unable to purchase a property on the open market. Through social investment, the Trust has committed to providing 50 affordable homes in the town and surrounding areas.

Big Society Capital’s Social Sector Leader, Geetha Rabindrakumar said: “This was a great opportunity for people to gain a better understanding of what social investment is and how it works. We hope it will inspire more organisations to seek social investment as a source of funding for future growth and development.”

To find out more about social investment, please visit www.bigsocietycapital.com.