The Current Living in Kirklees Survey 2021
- October 2022
Liverpool City Region has a thriving social economy, but its resilient community businesses are frequently operating on tight margins. The sector needs access to finance to realise its full potential, yet many struggle to get mainstream investment. To respond to this challenge, Power to Change teamed up with Liverpool City Region (LCR) Combined Authority and local social economy leaders to develop Kindred, an independent CIC offering social investment and support.
Kindred is not just another grant or loan programme. Co-designed by the sector, it is a social investment vehicle which supports socially trading organisations (STOs) – businesses that deliver social benefits and trade commercially, with social purpose at their heart. Owned by the sector and for the benefit of the community, Kindred’s philosophy is ‘pay back and pay forward’. Businesses invested in by Kindred in turn reinvest back into the fund so that other businesses can benefit.
The process for allocating this money and support is also unique. Investments by Kindred are awarded in a non-competitive process – a radical departure from most grant processes which frame STOs as competitors rather than collaborators. With Kindred, STOs can decide on the combination of funding that meets their needs. The collaborative investment process develops an ongoing relationship with and between local STO investees.
Local Economies Manager
Power to Change