Profit with Purpose Shows the Way Ahead: Investment available for businesses that save people and the planet.
Celebrating 20 years of investing in enterprises that put people at the heart of their business, Key Fund has announced £5m of finance is now available for communities across the North.
The ‘alternative bank’ is inviting people who want to scale up or set up a social enterprise to access the blended grant and loan finance offer as it marks 20 years of investing in 2020.
One such enterprise – Seagulls Reuse - backed by Key Fund saves 400 tonnes of paint from landfill, while offering volunteering, training and arts projects in the community.
Matt Smith, CEO of Key Fund, said: “Social enterprises are simply businesses with a social or environmental mission at their heart. With 20 years’ experience, we know what works, how to support social entrepreneurs, and how to sustain businesses. Over the years, this movement has grown and is now at the forefront of tackling society’s biggest challenges, from homelessness, addiction, loneliness, poverty and inequality to the environment, with community-led green energy schemes, projects tackling food waste, and recycling enterprises.”
To date, the anti-poverty organisation has invested £54M in social enterprises – businesses that put people and the planet at the heart of their enterprise.
Over two decades, Key Fund has given business support and finance to over 2,500 organisations, enabling 1,354 safeguarding 2,171 jobs and creating 520 new businesses across the North and the Midlands.
All the businesses Key Fund supports have been turned down by mainstream banks or lenders. 80% of investments are in businesses that operate in the top 30% most deprived areas on the indices of multiple deprivation.
Matt said: “Against a backdrop of austerity and rising inequality, local people are taking control of the issues that matter to them with real passion. Social entrepreneurs are remarkable individuals working at the coalface of their communities, offering very real solutions to endemic problems. They transform lives.”
For more, go to: https://thekeyfund.co.uk/
Opening a World of Colour: Seagulls Reuse in Leeds
Kate Moree moved to Leeds 20 years ago with the hope of going to university. A single mum, she ended up volunteering, where she met Cat Hyde, an art graduate.
A world of colour literally opened up after they retired to Kate’s kitchen to start up an enterprise. They heard there was a need for paint collection so badgered the council who agreed they could collect from one site.
“It went from there, now we’ve got a staff team of 12 and we work with 60 volunteers a year.”
With Kate on benefits and Cat doing part-time jobs in galleries, they didn’t draw a wage for four years while establishing Seagulls.
The team collect 375 tonnes a year of waste paint from the council’s paint banks, removing the toxic waste destined for landfill. It’s taken back to base, separated into type, mixed and re-sold in their bespoke shop.
“People love their Farrow and Balls, but can’t necessarily afford it, so we blend the paint to match any colour they want.”
It offers volunteering and work placements for young adults with learning difficulties, ex-prisoners, and people with mental health problems. “We call ourselves a bit of a last chance saloon,” Kate laughed. “Anyone really who needs a leg up. It’s quite holistic, we eat together, cook together, if someone comes in with a terrible problem there’s always someone with a worse one, which can help put your life in perspective. It’s about providing somewhere they can get back on an even keel.”
Since forming in 2014, they’ve supported 552 volunteers, averaging 50 a year.
Seagulls also runs a mosaic community art workshop. “We do large scale mosaics in subways, in schools, we’ve just done a huge one in Leeds market, a rainbow of hope.”
“We employ an artist to facilitate but it’s very much community based – schools, elderly groups, mental health groups. We have a small workshop which is free for people with severe mental health problems –they’ll smash a tile up and create something very beautiful. We have a gentleman with paranoid schizophrenia who’s been very troubled in his life, but since he’s been coming here he’s producing the most amazing pieces of art; his mental health has improved dramatically.”
Key Fund helped them expand after securing a five-year contract with the council. Once up to spec, they plan to provide screen printing and furniture upcycling.
They support a network and social life, with camping and cinema trips, giving lost souls a place to belong.
“It is life changing. Just because they’re not able to work for whatever reason doesn’t meant they haven’t got great value and are a part of society; we’ve got some fantastic young people here and I don’t know what they’d do if they didn’t have places like this to go.”
Their ambition is to keep growing.
“As a single parent who came to Leeds who didn’t know a soul and had depression for a while, the difference it’s made to me! And to be able to give that back to others, as cheesy as it sounds. We’re really passionate about the planet, we’re really passionate about people. We see the difference it makes to our lives, and others; that drives us.”
Testimonial
“To have a fund that will specifically support organisations like ours is fantastic, it enables us to grow and provide more resources in the community. Key Fund get it.”
Spotlight On: Ruksar Ajaml, 40
Ruskar came to Seagulls 12 years ago from prison and is one of their ‘most loyal and brilliant’ employees.
“I was involved with the wrong people from the age of 15. I went to prison, got six years; I went in at 21 and out at 27.” His relationship broke down with his baby son and partner.
While in an open prison, he signed up to a course at Leeds College and qualified in painting and decorating. He sent 50 or 60 letters applying for work, but doors remained firmly shut. “It makes no difference what you’ve been in for, it’s the whole prison thing.”
He started volunteering at Seagulls.
“They helped me along the road, and it got me into the world of work.” He started a decorating strand at Seagulls, with “the right energy, determination and focus.” That closed in 2014, and he’s now a shop floor supervisor. He says he’s progressed in so many ways.
“We work with prisoners, so with my insight, my experience –everyone’s story is unique but the underlying core of it is always the same.”
Which is?
“Which is how do I get back on track, who can help me, where can I get experience, where can I get training, where can I volunteer – this place ticks all those boxes.”
If it wasn’t for Seagulls, Ruksar believes he’d be back in prison, not just because he wouldn’t have a wage.
“It’s more than the money for me. If you don’t feel strongly about what you do, if there’s no passion, what is the point? It sounds cheesy but it’s true. It’s given me perspective, how I live my life, how I treat others. When I come into contact with others I’m a very chatty sociable person and Seagulls has bought that out.”
He’s now close to his family and his son is a grown man. As a mentor to others, “I can use my bad experiences for good.”