Social Investment and the Big Society Bank
03/05/2011
NAVCA has produced a briefing for members on the government's plans to create a Big Society Bank. NAVCA envisages that this type of finance will be a minority interest for small local organisations, although there are potential roles for NAVCA members as financial intermediaries and as investment readiness intermediaries. However there is still a need for support for organisations at the early stages of identifying whether social investment would be the most suitable funding source for the organisation.
Neil Cleeveley, NAVCA's Policy and Communications Director said,
"Whilst it is important that all forms of potential funding are supported, we believe that grant funding is a higher priority than social investment. Building the endowments of community foundations can lead to long term investment in the local voluntary sector. We would like to see some of the dormant accounts funds set aside for this purpose. We will continue to make the case for building local endowment funds as a means of supporting local grants".
Read NAVCA's members' briefing on social investment and the Big Society Bank
