Stage 1 application for BMEDP will open on 1 June 2021, with a deadline 4 weeks later on 29 June 2021.
The EDP provides a broad range of support, helping organisations to establish new enterprise models, or grow existing ones. It offers a combination of cohort-based peer learning opportunities, training, direct advice and support, as well as grants to research or test out new ideas, to launch new enterprises or grow existing ones.
All organisations applying to the programme must also be able to demonstrate that they are an eligible charity or social enterprise.
This means that organisations need to:
- Have a clear social mission
- Distribute less than 50% of post-tax profits and reinvest at least 51% of surpluses into pursuing their social mission, and
- Have a constitutional or contractual lock on their social mission, dividend and surplus distribution policy (also known as an Asset Lock)
Also there needs to be a minimum of 70% of the board of trustees and at least 51% of senior staff from a Black, Asian, or Minority Ethnic background.
The organisation must have been operating as a registered company / charity for at least 2 years and can demonstrate evidence of trading or are actively looking to diversify and grow income through trading.
The programme is relevant to local VCSE organisations in Leicester and Leicestershire because the programme requires beneficiaries to be from one of the following regions: Humber and Yorkshire, London, the Midlands, the North West, or South West of England.
Further details can be found here.