North of Tyne Combined Authority (NTCA) Social Economy: Call for Evidence

NTCA and Power to Change have launched a strategic partnership with the objective of growing and further developing the social economy in the North of Tyne area, in partnership with local stakeholders.  

The Social Economy comprises the collective activity of Socially Trading Organisations (STOs) – such as companies and organisations that set out to deliver social benefits while trading commercially including community businesses, community land trusts, community interest companies, social enterprises, cooperatives, some limited companies, and family businesses and local ventures who demonstrate their social purpose through their business behaviours.  

We launched a formal call for evidence on 7 March 2022  to gather views on the opportunities and barriers to growth in the social economy, and in particular the sector’s appetite for innovative financial products including loans and equity to support start-up, innovation, and scale-up. This will inform significant investment into new and innovative social finance funds by NTCA and wider partners in the Summer. 

We were interested in the views of STOs, from food coops to community energy initiatives; those wanting to establish new projects of this nature; Infrastructure and Business Support organisations/professionals supporting this activity; and those providing finance solutions such as Fund Managers and Community Development Finance Initiatives (CDFIs). 

The call for evidence closed on 13 May 2022.


 

To find out more about the Social Finance Fund email socialeconomy@northoftyne-ca.gov.uk 

About Power to Change  

Power to Change is the independent trust that supports community businesses in England. Find out out more here.

Community businesses are locally rooted, community-led, trade for community benefit and make life better for local people. The sector owns assets worth £870m and comprises 11,300 community businesses across England who employ more than 37,000 people.  (Source: Community Business Market 2020).

From pubs to libraries; shops to bakeries; swimming pools to solar farms; community businesses are creating great products and services, providing employment and training and transforming lives. Power to Change received an original endowment from the National Lottery Community Fund in 2015 and a further £20million grant in 2021.