Thread by @peoplesbiz

Today’s #DormantAssets announcement could be a game changer for the 11,000 community businesses working to support vulnerable people and communities in England, including those in underserved places and most at risk from the cost-of-living crisis 👏

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@SchSocEnt @GSGimpinv @NAVCA @PlunkettFoundat @resp_finance @UnLtd @V4CE @ImpactInvInst @SocialEnt_UK @si_access As a member of the @CommWealthFund, and supporter of the #CommEntGrowthPlan, we are pleased that Government has listened and recognised the need for long-term investment at the community level and provide much needed energy resilience support for community organisations.

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The Community Wealth Fund is a welcome boost to the power of communities to exercise change in their neighbourhoods. This investment will enable communities to #LevelUp and regenerate important spaces, rebuild social capital and restore pride in place.

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But to capitalise on this, Government should also adopt the Community Enterprise Growth Plan. This would provide access to finance and business support for community businesses via private and philanthropic capital alongside #DormantAssets to multiply its impact.

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We’ve seen this approach work in Liverpool, where @kindred_lcr has invested £1m into the local social economy through a community-led, patient finance fund. We know this money goes further with community businesses, who keep money circulating locally and create local jobs.

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@kindred_lcr We look forward to working with Government on the detail of the Community Wealth Fund and will offer our evidence and experience of working with community businesses to help maximise the impact of the Fund in the places that need it most.

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