Santander launches award scheme with up to £50K prizes for social enterprises across the UK
01 June 2012
Social enterprises across the UK are being invited to enter the Social Enterprise Development Awards, a new community business support programme from Santander, for the opportunity to win up to £50,000 to help fund business growth.
The awards are targeted at established social businesses working in one of the following three areas: improving social inclusion, supporting employment or creating a greener environment. There are three prize levels - £50,000, £30,000 or £15,000 - dependent on turnover, for organisations with the potential to increase their community impact but in need of a financial boost.
To enter the competition, social enterprises can complete a short entry form downloadable from www.santanderseda.co.uk detailing how an award would be used to grow their business to benefit the community. The deadline for applications is the 2 July 2012 and the winners will be announced in September 2012.
Robin Foale, Managing Director, Santander Business Banking, said: "The Santander Social Enterprise Development Awards are part of Santander's commitment to supporting small businesses in the UK, helping to support economic development across the country. Social enterprises play a vital role in local communities, helping to deliver social regeneration, and we're looking for those with the potential to expand their work."
The prize fund of £2.28m is split equally across eight regions - London & South East, South West, Midlands, North West, North East, Wales, Northern Ireland and Scotland. There will be nine winners selected from each region, three for each award category, giving a £285,000 total prize fund in each area.
Alongside the prize money, winning social enterprises will receive access to support from Santander including mentoring programmes, funding for internships and university business courses and training.
Winning organisations will also receive valuable input from their local Community Foundation which will work with them to assess the social impact of their business and the prize fund on local communities.
For further information please contact the Santander team at Eulogy on Santander@eulogy.co.uk or call Ben Gold on 020 7927 9999
Notes to editors:
Santander is a retail and commercial bank, based in Spain. Founded in 1857, Santander has 90 million customers, around 14,000 branches - more than any other international bank - and over 170,000 employees. In the UK, Santander (formed out of Abbey, Alliance & Leicester and the Bradford & Bingley retail network) has over 1,300 branches, around 4,500 cash machines and provides a full range of retail and corporate banking services to 24 million customers.
About the Social Enterprise Development Award
The Development Award is targeted at established social enterprises (more than two years of trading) looking to grow their business and working for the direct benefit of their community via one or more of the following outcomes:
- Improving communities via social inclusion
- Supporting disadvantaged people through training, skills and employment
- Creating a greener environment
The Award includes three prizes:
- £50,000 for social enterprises with a turnover of £250,000 - £500,000
- £30,000 for social enterprises with a turnover of £150,000 - £250,000
- £15,000 for social enterprises with a turnover of up to £150,000
The administration of the funds and subsequent assessments are being managed through the Community Foundation Network.
About community foundations
Community Foundations make a difference by bringing together local philanthropists and organisations who wish to give money to support their local community with dynamic local organisations. The Community Foundation Network is made up of a movement of 58 community foundations in the UK.