Good Finance promises clarity on social investment
A collaborative project intended to promote greater understanding about social investment launched today.
The Good Finance website helps staff at charities and social enterprises understand social investment to consider if it is appropriate for their organisation.
A selection tool that filters investors and advisers according to the type of loan, geographic location and amount of investment needed also makes up part of the platform.
Social ventures looking for examples of peers who have taken on social investment will also be able to find numerous case studies that illustrate different amounts, types and costs.
Good Finance has been produced by a consortium of eight organisations including Pioneers Post’s parent company Matter&Co.
Flip Finance, which canvasses social ventures’ needs in order to develop social investment products, is also part of the consortium.
Nick Temple, deputy chief executive of Social Enterprise UK said: “The social investment landscape can sometimes feel fragmented, difficult to understand and difficult to access.
“That's why we are delighted to be involved in Good Finance which has been designed with the users at its heart - and is also a genuine collaboration between key organisations."
A year of research and co-design with the sector took place before today’s launch. Sarah Wren, CEO of Hertfordshire Independent Living Service (HILS), one of the organisations consulted through workshops, welcomed the new service.
“A few years ago we sought social investment to support a period of rapid expansion and growth.
“At that time it was really difficult to get sound advice about the range of options, and over the intervening years, the range of financial products and options has grown and become increasingly difficult to negotiate,” said Wren.
“We were delighted to help support Good Finance with a user-design project to create clear, simple resources and tools to help social businesses and charities find funding which works for them.”
Photo credit: Mel Baylon/Unsplash