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The Social Economy Incentive Fund is open to online applications from Belfast-based social enterprises and co-operatives. The fund is for new and growing social enterprises that need support at early development, start-up or early growth stages. The application process is competitive. Shortlisted organisations will be invited to pitch on 4 or 5 December 2024 to a judging panel comprising local social enterprise stakeholders.
To apply, an organisation must be:
There must not be any duplication of funding from any other sources for the project.
The Social Economy Incentive Fund can only be used to grow or expand the organisation and the organisation's activities. This means additional activities or enhancing the current offering. You cannot use this funding to sustain current operations.
Funding can cover support including equipment to help achieve growth, set up costs, skills development and specialist mentoring support (not already provided by another programme).
You cannot use this fund for personal electronic equipment such as iPads, laptops or mobile phones.
This fund cannot cover existing direct or indirect costs such as rent, rates or utility bills for existing premises or staff salaries.
This fund cannot be given as donations to charities or local groups.
The prize fund is split into three categories:
The maximum award is £2,500. To apply, organisations will be in the development or start-up stage but must be ready to trade or be operational within three months of receiving the award.
The maximum award is £5,000. To apply, organisations must be at start-up stage and currently operational or trading less than two years.
The maximum award is £10,000. To apply, organisations must be trading or operational for a minimum of one year or demonstrate the capacity to reach VAT threshold within the first year of trading or operation.
You must apply online. Applications close on Friday 1 November 2024 by 5pm.
For more information on the fund, email [email protected].
Apply to Social Economy Incentive Fund 2024 (link opens in new window)
Under the Subsidy Control Act 2022, a subsidy is present when a public authority provides financial assistance (directly or indirectly) to an enterprise and that gives them an economic advantage over one or more other enterprises with respect to the production of goods or the provision of services. This financial assistance must also be capable of having a foreseeable effect on competition or investment within the United Kingdom or on trade or investment between the United Kingdom and a country or territory outside the United Kingdom.
This financial assistance could be:
This UK definition is broadly similar to that which is used in the EU’s State aid rules.
Although the UK has now left the EU, as detailed in Article 10 of the Northern Ireland Protocol and the resultant Windsor Framework, the EU State aid rules also still apply in respect of financial assistance measures which affect trade in goods between Northern Ireland and the EU.
As a public authority, Belfast City Council has a duty to ensure that one or both Subsidy Control Regimes are complied with when awarding grants which it has deemed to constitute a subsidy.
Belfast City Council has determined the Social Economy Incentive Fund is a subsidy, as defined in the UK Subsidy Control Act or the EU’s State aid rules. Therefore, if your organisation is awarded the grant, Belfast City Council must ensure we collect the correct information.
When applying for the Social Economy Incentive Fund, you must compete question 1 in the Subsidy Control section on the application form.
You need to tell us if your organisation exports goods or services into or out of Northern Ireland.
If your answer is 'Yes', you must give details of support your organisation has received from any public body during the current and last full two years of your organisation's financial years. The table shows examples of support that you should include.
Awarding body | Name of programme | Type of support | Date awarded | Amount or value in £ |
---|---|---|---|---|
Land & Property Services | COVID Small Business Grant | COVID Support Grant | 21 June 2022 | £9,500 |
Lisburn City Council | Better Business Programme | Marketing support and guidance | 28 February 2021 | £3,750 |
Total received: £13,250
If you are unsure of the type of support you have received during this year and the last two full years of your organisation’s financial years, you should contact the relevant grant providers and request this information. Incorrect information could result in your business receiving too much funding which could later give rise to this being recovered with interest. Belfast City Council would also advise that you seek independent legal advice if you are unsure of your obligations under this legislation.
If the amount of support you have received is over £200,000, we will contact you as this may make your organisation ineligible to receive the grant under EU ‘de minimis’ rules or the UK Subsidy Control Act.
As required by the EU’s ‘de minimis’ Regulation, before the grant can be awarded your enterprise must provide the Council with details of all other De Minimis aid received in the current and previous two financial years (of your enterprise) and, if applicable, the amounts of any minimal financial assistance awarded on the basis of Article 364(4) of the subsidy control chapter of the UK-EU Trade and Cooperation Agreement (TCA) or Minimal Financial Assistance (MFA) awarded on the basis of the UK Subsidy Control Act 2022.
This grant is Minimal Financial Assistance, and if we decide to award your enterprise, you must confirm in writing that when the amount is added to any other MFA (EU de minimis or Art 364(4) TCA aid) the total amount will not exceed £315,000 within the relevant period.
Belfast City Council only requires details of subsidies awarded on the basis of the EU’s de minimis rules or Art 364(4) TCA or the MFA provisions in the UK Subsidy Control Act. You do not need to declare any other subsidies which your enterprise has received.
Empatheyes applied to the Social Economy Incentive Fund. This video explains how the fund helped their social enterprise. The video plays for one minute.