GOOD causes in Oxfordshire have welcomed their chance to bid for part of a £100m investment as the county was described as “leading” the way in social enterprise.
The new Access fund was launched in Didcot on Friday and the directors of some of the county’s social enterprises said the money could help new companies start up and existing companies expand.
Minister for Civil Society Rob Wilson, who spoke at the launch of Access at the South Oxfordshire Food and Education Academy (SOFEA), said Oxfordshire was a “leading part” of the UK for social enterprises.
Such companies aim to use the money they make to improve people’s lives or benefit the environment rather than deliver a profit for shareholders.
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Director Jeremy Spafford said his company would have benefited from the funding when the firm was set up in 2011.
Mr Spafford said: “We had to work very hard to find the organisations out there which are prepared to take a risk and invest in people like us because we had no financial history. Access will make these projects easier.
“Oxfordshire is a leader for a few reasons. There are a lot of bright sparks here who are prepared to take a risk, and organisations like the universities who have been prepared to help out.
“And it is partly because we are a place where people can come together and chat about these things and get things done.
“There are things like the work we do where you can be more agile and entrepreneurial if you are in the social enterprise world. Public services are crucial and I would not want to suggest they cannot do the job, but we need to increase the ways people can get help and support.”
SOFEA distributes excess food from supermarkets to disadvantaged people in Oxfordshire, Buckinghamshire and Berkshire.
It also takes on up to 150 young people each year as trainees and helps them learn new skills.
Founder Richard Kennell said: “We help young people to build their confidence and emotional intelligence, and learn skills such as forklift training, maths and food hygiene.
“This investment will help companies like ours which work with young people and offer them a really broad set of skills.”
The Government will provide £60m of the £100m investment over the next decade,with another £22.5m from the Big Lottery Fund.
Investment company Big Society Capital will match that with another £22.5m in loans.
Businesses in Oxfordshire, as well as those around the country, will be able to bid for the cash.
Mr Wilson said: “Oxfordshire is a social enterprise county and there is a real buzz in terms of what it is doing and what it is trying to achieve in making social enterprise a central, core strategy that the county delivers for its people.
“Social enterprises should make services more efficient and we should be able to get more for less.
“Oxfordshire has been a real leader in trying to build and lead social enterprises, and something like the Access foundation working with Oxfordshire as a social enterprise county should be able to put rocket boosters under what you can achieve.”
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