Senior Investment Manager Oliver Pollard recently joined Resonance and reflects on the success of the Resonance Social Investment Tax Relief (SITR) Fund and the social enterprises this Fund invested into, in 2019.
It was a busy year for our South West SITR Team, in particular Investment Managers Katalin and Donna.
On behalf of the team I'm delighted to share that £984,000* was invested from this Fund into social enterprises last year - below is a brief summary for some of these.
2019 was our most successful year of investing in social enterprises from this Fund to date, so this is also an ideal opportunity to also thank everyone involved.
Whilst tackling different social issues, all the investee social enterprises have similar goals and social missions: to have a positive and sustainable impact on the communities and individuals they support, helping make the world a better place.
Their work has been primarily helping to improve people’s life chances by providing health and wellbeing support, mentoring, training and employment opportunities for those in need:
They achieved incredible impact in a variety of ways through: creative arts, music lessons and outreach; holistic and integrated counselling, therapy and support; sports teams and youth clubs; alternative education services; outdoors training and upskilling and employment.
Investment Manager Katalin Juhász said: “We’re so proud to support these social enterprises and help them to continue their missions to have a positive impact on the communities they support and work in.”
Investment Amount:
£75,000
About:
Provides tuition and mental health and physical wellbeing services to help children and young people with social, emotional and mental health difficulties
Investment Purpose:
To develop their city centre hub space, create a brand-new community café, deliver a new range of much needed projects and expand their existing outreach services
Impact Theme:
Education & Learning; Health, Wellbeing & Social Care
Investment Amount:
£250,000
About:
Provides Ofsted regulated early years education and childcare services in community owned spaces
Investment Purpose:
To scale up the business, enabling the opening of two new nurseries and recruitment of new staff
Impact Theme:
Education & Learning; Health, Wellbeing & Social Care
Investment Amount:
£100,000
About:
Builds the skills, confidence and self-esteem of young adults with physical and learning difficulties. It does this by developing sports related and supportive employment opportunities in retail via its online sports shop and warehouse in Gloucester.
Investment Purpose:
To enable its online retail outlet to increase and diversify its sportswear and sports equipment lines, and to provide more sustainable and inclusive employment opportunities for young, local adults with physical and learning disabilities.
Impact Theme:
Work & Employment; Health, Wellbeing & Social Care
Investment Amount:
£100,000
About:
Spike Island is an international centre for the development of contemporary art, offering a place where artists and the public can meet; using art to promote mental wellbeing, community cohesion and allow voices to be heard that otherwise may remain silent.
Investment Purpose:
To support more artists and increase the reach of art to broader communities and will also see their Exhibition Services become a sustainable income source to support the charity
Impact Theme:
Education & Learning; Arts, Culture & Sport
Investment Amount:
£250,000
About:
Providing youth mentoring, youth club and alternative education services
Investment Purpose:
To recruit new key staff to strengthen the management team and to set up and establish two further independent alternative schools, complementing and building on their mentoring service.
Impact Theme:
Education & Learning; Poverty & Disadvantage
Investment Amount:
£109,000
About:
Manufacturing products from recycled wood and providing training and employment opportunities to people struggling with addiction, employment issues or criminal behaviour.
Investment Purpose:
To increase the number of volunteering and work-based training opportunities for people who experience multiple barriers to work, helping them get on to, or back on to, the path to employment, whilst at the same time challenging perceptions of ‘waste’
Impact Theme:
Work & Employment; Rehabilitation & Criminal Justice
For more information about our SITR Funds click here.
*This includes some investments yet to be shared publicly
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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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