Your sizzling summer update from Good Finance...??
Good Finance UK
We help charities & social enterprises navigate the world of social investment. Follow us for free tools, events & more.
School's out, sun's out - and now it's time to catch up on what's new in the world of social investment!
Despite the sunnier climes - and slightly more 'out of offices' than normal - things certainly haven't slowed down here at Good Finance HQ, as we share the various new blogs, case studies and programme updates for this month.
This newsletter includes our 'Meet the Investor' series , and we'd like to say a big thank you to those featured for sharing invaluable insights from the investor perspective with our users.
We also spotlight award-winning case study - We are Juno CIC - who were joint winners of the Social Investment Pioneer category at the SE100 Awards, and the brilliant Lightning Reach , who used social investment to scale their support for those experiencing financial hardship.
...and finally there's so many fantastic opportunities to join our upcoming cohorts across our suite of e-Learning programmes - register your interest today to to join one of our September cohorts!
So don't delay, grab something cold and kick-back with our latest and greatest updates from July...
Meet the Investors...
In this bumper summer newsletter, we are delighted to share four remarkable investors, exploring their perspectives on all things social investment. The various insights and experiences provide invaluable guidance for anyone exploring social finance, with each blog sharing honest, helpful reflections on the many challenges and opportunities in the sector...
Meet Mike Rivett-Strong...
Introducing Mike Rivett-Strong , Business Support Manager at Livv Housing Group (Livv Investment ). They support a range of organisations in the north west that create sustainable social impact for the communities they serve. With a passion for innovative solutions, Mike speaks to how social investment isn't just for large sums, with the average first time investment amount being ￡50,000...
"Engage with investors early: Start conversations with potential investors early in the process. Building relationships with investors can also provide valuable feedback and guidance as you prepare for investment."
Say 'Hello' to Morag Davies...
Morag Davies is Head of Commercial Banking at Reliance Bank Ltd , and in this post she explores why there's no such thing as a 'typical' day for a social investor at Reliance Bank, the importance of having a plan and her hopes for more (!!) overseas marathons in 2025 and beyond!
"Have a plan – even if it’s a short a document covering who you are and what you do, what you want to achieve and impact it would have and some projections. Think about the people and skills you have in your team and whether you need to bring in others or use advisers."
Spotlight on Jeremy Pannell...
Next up, we hear from the brilliant Jeremy Pannell , Senior Corporate Finance Manager in the advisory and investment crowdfunding team at Triodos Bank , as he explores the importance of people, the value of research and personalising approaches and the diversity of his Spotify algorithm!
"Research the adviser, investor or crowdfunding platform you are approaching before you reach out; tailor your approach according. Like any initiation of a new professional relationship, this demonstrates that you have done the groundwork to understand their requirements."
What's new with Harmony Chan...
Finally, Harmony Chan , Social Investment Portfolio Manager at the Joseph Rowntree Foundation (JRF) focuses on tackling key social issues through targeted investments. Read more about her work, which aims to tackle poverty and build stronger communities, showing how strategic funding can plan an integral role in addressing some of society's biggest challenges...
"When reaching out to investors that align with your strategic priorities and your funding needs, also ask them for referrals to other social investors! We like working collaboratively in the sector and know other contacts who might also be a good fit to support you."
A final thank you to the investors featured above for getting involved!
Spotlight on Lightning Reach and their experiences with social investment...
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“We’re grateful to have the support from JRF, who are very much aligned to our purpose at Lightning Reach with their mission to end poverty in the UK. The social investment has enabled us to scale our work and impact, reaching over 100,000 registered users and facilitating over ￡10m in grants through the cost-of-living crisis (double since the investment last year).”
Ren Yi Hooi, Founder & CEO
More than 17 million people in the UK are currently facing financial hardship, yet there is over ￡19bn in unclaimed annual benefits and grant funding available in the UK. The funding is available across a complex web of government benefits and discretionary support schemes that are poorly advertised and difficult for individuals to navigate.
Lightning Reach is a social enterprise dedicated to bridging the gap between those in need and the financial support available to them. Their innovative platform simplifies the process of accessing financial aid, ensuring that vulnerable individuals can quickly and easily get the help they need.
Read the full case study to learn more about their experiences with social investment...
Supporting a sustainable alternative to profit driven models in children's residential services with help from social investment...
“Blended social finance has provided We are Juno CIC with the resources we need to design and develop high quality homes for children in Liverpool City Region. As a new provider, we’re learning about what’s required to achieve the very best for young people. Our socially minded investors have provided the flexibility and support we’ve needed to move forward”.
Sophie Clarke, Managing Director, We are Juno CIC
We Are Juno CIC is a not-for-profit children’s residential service offering a sustainable alternative to profit-driven models. They focus on creating local homes where young people feel safe, loved, and supported in all aspects of their development.
Social investment enabled the opening of Juno Oxton, a home for four young people, with their first home rated "Good" by Ofsted in January 2024. More homes are planned, including a second in Wallasey opening in July 2024.
With a relationship-centered approach rooted in social pedagogy and Trauma Informed Practice, We Are Juno aims to improve care quality and staff retention, ultimately transforming opportunities for children in the Liverpool City Region.
Read more about their diverse financial toolkit via the full case study.
Calling all future e-Learners: register your interest today for September cohorts!
"The online learning was easy to follow and I liked being able to work at my own pace. The videos with insight from Good Finance staff were really helpful too."
While we know it's slap bang in the middle of the summer holidays, back to school season is fast-approaching! Why not take a look at our upcoming September cohorts for our e-learning programmes?
Whether you'd like to understand more about social investment, deepen your knowledge of due diligence and legal structures or delve into the role of investment committees, we have the course for you!
Visit our e-Learning hub for upcoming September dates and to get signed up!
And in other news...
Brief updates from across the sector, this month featuring upcoming events, programme opportunities, news and views and more...
The UK’s most impressive social enterprises inspire optimism with their solutions for people and planet, at Pioneers Post 's annual NatWest SE100 Awards ceremony in London. Learn more about the categories and the award-winners via Pioneers Post.
Good work is good for business – as shown by a new Social Enterprise UK report we supported, exploring social enterprise employment conditions and lessons for wider business. From paying fair wages and investing in skills to providing flexibility and giving workers a voice, social enterprises lead the way in offering high-quality jobs.
As a #SocialEnterprise Knowledge Centre partner, we’re proud to support this important research, which we hope the UK Government will consider as it develops the New Deal for Working People.
Read the full report via Social Enterprise UK.
The new government’s missions provide an opportunity to do things differently and build a new partnership together. It doesn’t require the new government to spend lots more money it doesn’t have. It certainly doesn’t require the central state to try and fix all the problems itself. What it requires is a series of big reforms to rewire policy so it supports community power rather than standing in its way.
Read the full blog via Locality.
Gain the knowledge, skills, and confidence to develop and grow projects that tackle social and environmental challenges through strong trading income streams.
Trading for Good from School for Social Entrepreneurs provides funding, education and support for social entrepreneurs and community businesses across England. It consists of three programmes aimed at different types of projects at differing stages of their journey - including Community Business, Social Enterprise Start Up and Social Enterprise Trade Up.
The new deadline is 7th August at 12pm. Learn more via SSE.