IMPACT THEME: Education & Learning; Work & Employment
WHAT THEY DO: Supporting unemployed young people to turn their talents into fulfilling careers through a range of programmes and training opportunities
YEAR FOUNDED: 2014
INVESTMENT AMOUNT: £200,000
INVESTMENT SOURCE: Resonance Bristol SITR Fund
INVESTMENT PURPOSE: To acquire a new property to create new studio spaces and training areas, increasing capacity 4-fold
DEAL STRUCTURE: 6 year unsecured loan from the Resonance Bristol SITR Fund - 3 years interest only (6% total cost p.a.), 3 years amortising loan (7% total cost p.a.). SITR eligible
PAPER Arts helps creative young people who are unemployed, under-employed or starting out as self-employed to develop their potential, become more enterprising and generate income from their talents through a range of programmes and training opportunities.
PAPER Arts had reached capacity in its existing building and wanted to expand its reach into the Ashley, Easton & Lawrence Hill (AELH) Neighbourhood Partnership area. This both enabled PAPER Arts to develop its new programme, the Hive, to engage many more young people from diverse backgrounds and increase its income generation potential, as well as being more accessible to a community where there is a lack of employment and training opportunities.
The £250,000 investment has enabled PAPER Arts to purchase a building in the St Paul’s area from Bristol City Council, which had been empty for four years, helping to revitalize a previously run down area and making it one of the biggest creative spaces in the city. The new studio spaces and training areas will enable PAPER Arts to engage with at least four times the number of people their current building allows.
The majority of their outreach work focuses on young NEET’s (Not in Education, Employment, or Training), the long-term unemployed and vulnerable adults.
Many of the young people that have come through the internship programme at PAPER Arts suffer with mental health issues such as depression and anxiety. PAPER Arts has found this struggle is common in the lives of the unemployed, and directly supports young people with mental health issues to use creativity to boost their confidence.
If you would like to learn more about PAPER Arts please visit their website.
Resonance Limited is a company registered in England and Wales no. 04418625
Resonance Impact Investment Limited, a subsidiary of Resonance Limited, is authorized and regulated by the Financial Conduct Authority (FCA). Firm number 588462.
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