The Problem
There is a wide range of funding and investment out there for businesses and individuals seeking to borrow. There are also many places where businesses and individuals can deposit and invest their surplus funds. The challenge is to find/have the right type of money, on/at the right terms at the right time.
Investments and funding can be thematic, in that its only for certain sectors, or only for businesses at certain stages of development, place based, in that it can be restricted to certain geographical areas, and can also only be available for certain types of business.
There is also a need for the right kind of support for individuals and businesses so that they are properly prepared to take on finance.
Most people need support in identifying their different options whether borrowing or savings.
The challenge is to identify what’s right for you or your business as there is no central point to meet businesses who can meet your aims.
The Impact
Without the right funding at the right time business don’t get off the ground or reach their true potential. Individuals from disadvantaged communities cant access the same personal finance as others restricting their ability to access good jobs and acquire assets.
On the other side people looking for their savings to delivers social impact aren’t aware of opportunities within their own communities or other ways they can provide support.
Investors looking to do good as well as receive a financial return aren’t connected to businesses with a social mission looking to grow.
The solution
The Innovation Cooperative provides a platform for collaboration that brings together all parts of the economic landscape to deliver real outcomes for the communities of Greater Manchester.
It provides a platform for business of different to collaborate on projects, but also a support network to incubate new businesses and forge new partnerships.
The members can provide support to create more social businesses in GM, whatever legal structure, but also will enable existing profit generating businesses to connect with their local communities and other businesses to increase their social value and social impact in the areas that they are based.
