Future Camden Fund returns to help grow start-up businesses and social enterprises
The second round of the Future Camden Fund is opening for applications to help impactful start-up businesses and social enterprises in Camden grow and thrive.
The Future Camden Fund is part of the Council’s programme of finance and support for businesses that are building a better future for the borough and its communities.
Last year, the Council awarded £165,000 to start-ups that deliver social value to local people through a wide range of work, including education, arts and culture and wellbeing.
An additional £350,000 is now available for businesses to apply for two types of funding: loans and Match Trading grants.
The fund also offers a whole host of free business support to recipients including mentoring, learning courses and peer support.
Camden continues to be the best place in London to do business – already the borough has seen the highest number of new businesses set up than in any local authority area this year. In 2022, we launched the Future Camden Fund, a local impact fund that was the first of its kind for a London borough, which supported 11 grassroots social enterprises delivering real benefits to local people. This round we are pledging an additional £350,000 in funding for local businesses alongside a package of free business support that considers and celebrates the diversity of our borough’s entrepreneurs.
We are committed to making Camden’s local economy strong, sustainable, and inclusive. No one should be prevented from launching their own business because of their background or barriers to finance and our new affordable loan and Match Trading offer will continue to support growth while benefiting local communities.
Loans of £10,000 to £50,000 are available, repayable over three years with a flat 5% interest rate.
Businesses can also opt for Match Trading grants, an innovative approach developed by the School for Social Entrepreneurs that rewards entrepreneurialism by matching new trading income pound-for-pound with a grant.
Each additional £1 a business makes over a year will be matched with £1 in grant funding.
The funding round will continue to support local entrepreneurs from backgrounds that are often locked out from other sources of finance, including those from Black, Asian and other ethnic community backgrounds, those who are disabled, care leavers and female business founders.
Successful applicants will also receive free support to help grow their business, including consultancy, courses and networking. The Council has commissioned charity Action for Race Equality to deliver business support that considers the diversity of Camden’s business community, and the different experiences and barriers individuals may face. Businesses will also be able to access online learning materials from the School for Social Entrepreneurs.
Applications open on Monday 2 October and will remain open until the funding has run out.
The Future Camden Fund will seek to support start-ups to grow their products and services that support inclusive job creation and growth, sustainability, and the environment.
For more information on the scheme and how you can apply, please visit camden.gov.uk/future-camden-fund.