FINANCE NEWS: £1m funding boost for Midlands social enterprise service

A business support service for social enterprises in Birmingham has won £1 million funding.

Co-Enterprise Birmingham's Enabling Social Enterprise project received 53 per cent of the money from Birmingham City Council and the rest from the European Regional Development Fund.

The grant will be used to provide financial and business advice to community businesses, development trusts, co-operatives and credit unions in the most deprived areas of the city.

The three-year project is set to create 70 new jobs, safeguard 100 more and launch at least 12 new social enterprises.

Lynn Branson, chief executive of Co-Enterprise, said: "The project will build on Co-Enterprise's years of experience and knowledge within the sector, moving social enterprises to a higher level of sustainability.

"It will target good quality business support resources to those communities most in need, enabling Co-Enterprise to develop new services, new products and meet the business development needs of new customers."

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