Community Interest Company / Social Enterprise Funding Criteria
We support social enterprises and Community Interest Companies (CICs) that deliver meaningful social impact in Suffolk. These organisations play an important role in strengthening communities through sustainable, income-generating activities. Unlike charities, social enterprises are expected to generate most of their income through trading, not grants. Our funding is designed to complement this model—not replace it.
Who we can fund
Legal Structure
- Must be a Company Limited by Guarantee (e.g. CIC)
- We cannot fund organisations limited by shares or profit-sharing models
- Must have been trading for at least two years
Governance
- Minimum 3 unrelated Directors
- Directors must share equal authority and decision-making
- No individual should have significant control
- Clear roles, regular meetings, and documented decisions required
Purpose & Community Benefit
Your organisation must:
- Be not-for-profit with a clear social mission
- Benefit a defined community, group, or area
- Actively engage with the community (e.g. consultations, partnerships)
Your governing document should include:
- A clear mission and impact goals
- An asset lock
- At least 3 unrelated Directors
Compliance
You must have:
- Up-to-date Safeguarding policies (reviewed annually)
- An Equity, Diversity and Inclusion (EDI) policy
Full requirements are available on our website.
Financial Requirements
You must provide:
- Two years of accounts
- Clear breakdown of income (including trading income), expenditure and reserves
We will also ask for:
- Income sources
- Details of paid Directors or contracts
- Information on loans and repayment plans
- Evidence of financial controls (e.g. separation of duties)
We cannot fund:
- Organisations trading for less than 2 years
- Start-up or set-up costs
Trading & Sustainability
- You should be/aim to be generating at least 50% of income through trading
- A clear business or trading plan is required
Your plan should outline:
- Your products or services and target customers
- Costs, income projections, and timelines
- How your organisation will become financially sustainable
Funding is not normally available for core running costs, as these should be covered by trading income.
Need Help?
- Take our eligibility quiz
- Explore our budgeting and business planning templates
- Contact our team for guidance at [email protected] or on 01473 602602
Key Takeaway
We fund established, well-governed social enterprises that:
- Deliver clear community benefit
- Are financially transparent
- Are working towards long-term sustainability through trading