Local social enterprises and their beneficiaries
The Resonance West Midlands SITR Fund has only recently been launched. The Resonance Bristol SITR Fund has been running since February 2016, and has to date deployed over £1m to social enterprises, including:
South Bristol Sports Centre
Engaging and including young people through sport, increasing their confidence and offering training, particularly in poor parts of South Bristol. The fact that South Bristol Sports Centre was established with a charitable purpose and has an “inclusion manager” sets it apart from other sports centres.
Revenue comes from hiring out facilities to adults.
Helping creative young people develop their potential. The enterprise supports artists by offering business training and encourages those artists in turn, to train and mentor young people new to the sector, with particular focus on those who need support and encouragement.
Revenue comes from offering membership and workspace to creative and social entrepreneurs.
Helping young people into local journalism: Bristol 24/7 is an online newsletter and printed magazine celebrating Bristol and covering local news and social issues. The senior directors want to use this publication as a vehicle for giving a voice to communities that are often misrepresented in the media.
Revenue comes from advertising.
Regenerating the St James Roundabout area using food, retail and community events. This new business is also keen to offer structured training and work experience to young people who have struggled to find this elsewhere.
Revenue comes from trading activities.
Residential treatment, therapy and follow up support for people with drug and alcohol dependencies. Many of its clients have suffered terrible childhood traumas; as such the methods at Chandos are not simply based around counselling but include therapeutic intervention and holistic wellbeing, offering a genuine opportunity to change, and making this accessible for many who cannot afford private treatment.
Revenue comes from charging clients who can afford to pay for services.
Street Impact Bristol Ltd
A consortium of three charities – St. Mungo’s, Second Step and Bristol Drug Project - delivering an innovative social enterprise initiative to help rough sleepers in Bristol. The investment is enabling Street Impact Bristol to work with 125 people rough sleeping in Bristol over the next three and a half years. The work is aiming to support them off the streets, through providing accommodation and vital support services tailored to each individual’s needs.
Note: the examples above show the range of business activity and social impact focus for social enterprises into which the Resonance Bristol SITR Fund has already invested. New investors into the Funds will be allocated to new investments from their time of entry into the relevant Fund.