Private bank Coutts & Co has launched a new social enterprise advisory service to encourage its clients to develop businesses that operate for the good of the community. The service will be run by experts from three social enterprise support services: the School for Social Entrepreneurs, ClearlySo and UnLtd. Coutts will also offer opportunities for its clients to meet social enterprises in need of funding and mentoring services.
The Adventure Capital Fund, a social finance organisation run by the Social Investment Business, has found that organisations that received its business development grants were able to use them to access £27 of investment for each £1 they received. A survey of the organisations helped by the ACF found that they were able to use the funds to access £15.2m of investment.
More than 97 per cent of charities are unhappy with their savings rates, according to figures produced by online financial services company Fair Investment. The average charity receives only 0.57 per cent interest, according to the poll of 62 charities.