Dormant Accounts releases €800,000 for social enterprise training
Howard Lake | 11 September 2019 | News
Dormant Accounts funding is being made available by the Irish minister for Rural and Community Development for social enterprise training.
Minister Michael Ring has announced a call for applications from national, regional or local organisations and statutory bodies or institutions to deliver tailored training to new and existing social enterprises. Funding of €800,000 will be made available from the Social Enterprise Measure of the Dormant Accounts Fund (DAF) and is aimed at developing capacity building for social enterprises in Ireland, particularly in relation to enterprise development.
The aim of the Social Enterprise measure, which is overseen by the Department and administered by Pobal, is to increase the impact of social enterprises by enhancing their capacity to deliver services and generate trade income through the provision of tailored supports.
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Applications for the delivery of training and mentoring to social enterprises are being invited from organisations to enable growth and improve sustainability and to increase social, societal and environmental impact.
Minister Ring said: “I am delighted to be in a position today to announce the allocation of €800,000 from the Dormant Accounts Fund to pilot this training initiative and deliver on the commitment made in the National Social Enterprise Policy. Up to 300 participants are likely to benefit from these supports over the next year.”
Successful applicants must deliver suitable projects between 1st December 2019 and 30th June 2020. The minimum grant that each applicant can apply for is €30,000 and the maximum is €100,000.
Activities likely to be supported
Pobal has provided a list of typical activities that will be considered as part of a successful project:
- Assessment of the training and support needs of individual social enterprises.
- Practical skills workshops or courses in “Running a business”. For example, human resources, social enterprise business planning, marketing, growing the social enterprise/diversification strategies, social media, digital innovation, accounting, leadership, procurement, and developing the diversity of the workforce.
- Workshops on sourcing funding, finance or investment.
- One to one business coaching and mentoring, tailored to meet the needs of the social enterprise.
- Workshops on meeting legislative and legal requirements and governance.
- Specialist advice for social enterprise i.e. tailored to specific types social enterprises.
- Practical peer to peer learning workshops.
- Workshops on “how to measure the social impact of your social enterprise”.
- Workshops on financial management and planning for growth and expansion.
The Dormant Accounts Fund (DAF) was established by legislation and enables unclaimed funds from accounts in credit institutions in Ireland to be used to support the socially disadvantaged, people educationally disadvantaged and those with disability.
Application forms and guidance will be available on the Pobal website. The closing date for applications is 30 September 2019 at 3pm.
About Howard Lake
Howard Lake is consultant editor of UK Fundraising. He founded the site in 1994 and successfully sold it in 2022. As director of Giving X Ltd he is exploring growing giving on a massive scale.
He is the founder of Fundraising Camp and co-founder of GoodJobs.