Futurebuilders ponders new fund

The lender is weighing up a scheme to improve the sector's financial management skills

Futurebuilders England is considering launching a fund aimed at improving the financial management skills of third sector organisations.

Jonathan Lewis, chief executive of the government-backed loan fund, told delegates at the Funding the Future conference in Westminster yesterday that his organisation was looking into the new product, provisionally called the Finance Directors Fund.

"One thing I would look to do is put money into good financial management," he said. "According to one of the top people in the top accountancy firms, most insolvency comes from poor financial management."

Lewis said that he hoped to launch a series of new products, focusing on different areas where the third sector needed funding to help improve organisations' ability to win contracts to deliver public services.

Futurebuilders is also considering starting funds that would help third sector organisations make strategic plans and bid for prime contractor status with government.

He said he wanted to create a number of different products to find out where there was the greatest need in the sector.

"We'll try a number of different things, and see what works," he added.


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