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Welcome to SCRT's December 2016 bulletin focusing on social finance; social investment and social banking.  SCRT aims to harness the collective financial reserves of the third sector (organisations and personnel) and use it to provide social investment that is relevant, appropriate and in tune with the needs of the sector. JOIN US...If you are interested in our work then why not join our growing membership and take out SCRT free membership or associate membership. 
                           SCRT END OF YEAR SUMMARY 
As the year draws to a close it is a good time to recap on what SCRT has been doing through out the year.  Significant work has gone into developing the Community Re:Investment model. This is now finalised and we hope to launch a series of pilots next year with a number of partners to test the model and in particular test the response of the sector towards investing back into the sector..more of this next year.  SCRT contributed to the new Social Enterprise Strategy section on social investment and in particular highlighted the lack of actions around growing the demand for social investment amongst smaller organisations. We continue to advise, inform and promote social investment as an option for all third sector organisations either on a one to one basis, via presentations or via social media.  Finally, we couldn't have done any of this without the support of members, funders, partners and subscribers. There will be plenty more to come in the next watch this space.

Happy Christmas to all our Members;  Funders, 
Subscribers and Supporters.

Scotland's 10 Year Social Enterprise Strategy Launched.
Last week saw the launch of 'Scotland's Social Enterprise Strategy 2016-2026'. The strategy was co-produced by the sector and the Scottish government, which has to be commended for taking a long term view of support for the sector. The Social Finance section has four actions - Investment Readiness; Intelligent Grant Making; Responsive Finance and Unlocking Capital. Collectively the four areas reflect an approach to social finance that is very much in tune with the sector in Scotland and the need for a more gradual and more appropriate social finance approach. An approach that should be welcomed by all...Read More

Scottish Government's Charitable Bond provides more New Houses
SCRT has covered the Scottish Government Charitable Bond story a number of times over the past year. Interest on the bond is converted into a donation from the Government to Social Housing providers for the construction of new social housing. The bond which is managed by the social investment charity Allia Impact Finance, has now invested £47m in the building 661 new homes across Scotland. Dumfries and Galloway Housing Partnership is the sixth and most recent Housing Association to secure money to build 80 houses...Read More

Lack of interest in Social Impact Bonds sees UK social investment organisation going bust.
Two very interesting Social Impact Bonds(SIBs) stories in the last month should be of concern to the Minister Rob Wilson aspirations for SIBs who wants SIBs to be worth £1bn before 2020. The stories highlight that Local Authorities do not see SIBs as an attractive option for the delivery of public services, even where there is significant financial subsidy. One story focuses on the recent closure of SIB specialist social investor company 'ebsi', due to the lack of interest in the model by Local Authorities. Whilst the second article states that the financial support available to subsidise SIBs is not enough to entice interest from Local Authorities. Since 2013 - £60m has been available for SIB development, but only £16m has been accessed. The funders (The Office for Civil Society & Bog Lottery) are now considering increasing the current 15% SIB contribution to ensure all the monies are distributed before December 2017....Read More 

Mission-Led Business Review
Earlier this month, the UK Cabinet Office published its review into Mission-Led businesses.  The review did not look at asset-locked bodies such as charities or CICs, as its definition of mission-led business as companies that can fully distribute its profits and have an intention to have a positive social impact as a central purpose of its business would exclude most social enterprises. Coming on the back of the Scottish Social Enterprise strategy, it is heartening to see socially responsible entrepreneurs, be they 'not for profit' social enterprises at one end of the spectrum or 'profit with purpose' mission led businesses at the other end getting noticced and getting support.....Read More

WILL, SKILL and BILL...SIS Advice for organisations considering social investment

Social Investment Scotland have identified three steps for organisations considering social investment, particular first timers.  
1) WILL...Does the organisation have the right mindset and attitude to investment. 2) SKILL...Is there expertise and capacity within the organisation to take and manage an investment. 3) BILL...Does the organisation have a business model that will allow it to repay the investment. There is perhaps a fourth step...does the Constitution or Mem & Arts allow the organisation to take a loan. If you are interested in Social Investment then SIS is undertaking a series of WILL, SKILL and BILL workshops in 2017....Read More

Copyright © 2016 Scottish Community Re-Investment Trust, All rights reserved.

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