Tim Coomer

The Social Investment Forum (SIF) is undertaking a piece of research under its ‘Future Needs’ working group that aims to move beyond asking what form of money organisations want (loan, grant, blended, equity etc), and focus instead on assessing the product features that are most appropriate and desirable for charities and social enterprises when they are looking to take on investment.

This survey will develop our sector’s understanding of the current and future needs of the social economy – incorporating all elements of product design and development – to help ensure that we can offer products which are built around the needs of charities and social enterprises.

This is YOUR CHANCE to help them understand what YOU need.

It should only take 5-10 minutes to complete and is for any charity, social enterprise or other social purpose organisation based in the UK, regardless of whether you are currently seeking funding.

The survey is open until the 10th June and can be accessed here

The SIF is the national forum for social investment and finance intermediaries (SIFIs). Activities of the SIF aim towards the betterment of the UK’s social investment market, through advancing the work of cross-sector initiatives, as well as advocacy and policy work to influence the Government’s legislative and regulatory agenda. You can find out more about the SIF here.

This blog was edited on Wednesday 8th June to include the closing date for the survey.

As we approach our 2022 AGM in June, we are delighted to share this post from Trustee Nankunda Katangaza, who joined our Board in 2021. Here, Nankunda talks about being a Trustee, and her thoughts on how ethical finance can drive women’s empowerment.

Joining Co-operative and Community Finance (CCF) felt very serendipitous to me. I’ve done volunteer work since I was 15, from hands on helping out in a youth club every weekend to volunteering for an HIV/AIDS awareness organisation working in the African & Caribbean community as a university student to more strategic and governance-based roles over the years. It’s a great way of meeting people and getting involved in one’s community that also bring depth to one’s career.

Most recently, I was on the Board of a theatre company for 6 years, which recently completed a chapter and started a new one – a physical relocation to a new, purpose-built theatre, 70 years since it first opened its doors. So the time was right to make room for new blood to continue that journey and for me to find something new. Just then, the CCF opportunity popped up on my Linked In. The Board roles I’ve held previously have always been quite complementary to my interests both professionally and personally – in the arts, as a school governor and in the legal services sector – but this time I was looking for something a little further afield and that would also broaden my skills and experience as an entrepreneur.

I’d been thinking about a board in the financial services sector but most of the opportunities arising were with big banks and financial institutions that didn’t quite fit what I had in mind. CCF was firmly in the financial services world but with values that were in keeping with my own and serving businesses that do not traditionally have much access to financing – co-operatives, social enterprises, employee-owned businesses, women-owned businesses etc. CCF offered the potential to really get involved with and support the types of businesses similar to mine and also understand more about investment and finance – it felt perfect. Everyone at CCF is committed, passionate and knowledgeable and I’m enjoying getting to know the people and the organisation and looking forward to contributing to the organisation’s work.

CCF’s recent blog on the 2022 Earth Day theme ‘Investing in our Planet’ is part of an increasingly urgent push for change. CCF should be at the heart of shaping a more ethical way of doing business, the co-op way. It is also an opportune moment to observe and learn from some of the large finance houses out there on how to maximise resources and communicate effectively to our target business communities. I’m also pleased that CCF is signing up to the Diversity Forum Manifesto 2.0.  When there are different voices committed to the same cause, there is a broadness of approach which can be transformative. It can truly elevate and accelerate change I am excited about the potential there is for CCF and ambitious for what the organisation can do.

I’ve been thinking recently about women and finance, and investment in women’s enterprises. How can we at CCF really contribute to greater and innovative investment and financing of women-owned businesses? In my view, this can best be addressed by taking a gendered approach to financing that has the empowerment of women at its heart, whilst also tackling existing social, economic and institutional barriers.

We all know that women bore the brunt of the pandemic both socially and economically. They were first to lose low-paid work, over-represented in jobs ineligible for furlough, took on most of the home-schooling responsibilities and the domestic work burden etc. Violence against women and girls, already endemic, increased dramatically globally. In a world where this is the reality, how can we invest in or finance women’s enterprises and deliberately, purposefully address the broader gender inequalities in society? Approximately 30% of all businesses globally are owned by women but under 1% of corporate and government spend goes to them. We still have situations in many countries where access to a bank account must be under-written by a man, and men make all decisions about how household income money is spent. How can we invest to balance creating real, social impact and also a return on investment?

There are already interesting initiatives taking place globally on innovative financing structures and deployment of investment through a gender lens that can provide useful lessons – for examples see this article from the World Bank and this one from the European Investment Bank . This could be done, for example, by creating dedicated funds for women-owned businesses and financial instruments that specifically support women’s entrepreneurship. Of course, businesses don’t have to be women-owned to achieve gender equality outcomes and different incentives can be created. For example, a requirement for a gender equality assessment of supply chains to secure eligibility for financing. Or offering higher value loans or finance for specific outcomes, or lower interest rates for businesses that achieve gender equality goals. 

As an ethical financing entity, CCF already provides technical support and financial awareness and access for small co-ops and therefore has the experience and expertise to target women-owned businesses and design activities that meet their particular needs whether they are large companies, SMEs or micro-enterprises. There is so much that could be done and I’m excited to be part of the team at CCF, driving this forward.

Does this sound like the kind of conversation you’d like to be involved in?

There is still time to put yourself forward to join Nankunda and our other Trustees as we are recruiting now -the deadline in noon on May 9th. We would love to hear from you if this sounds like something you’d be interested in.

Lending and Relationship Manager Kevin Lloyd-Evans joined our team in January. Here, at 100 days in post, he reflects on what he’s seen and learned so far.

Co-operative and Community Finance (CCF) will celebrate its 50^th year in 2023. Since 1973 we have been responding to the needs of Co-ops and Community Business across the UK. I joined in January 2022, and have spent three months learning about the organisation, its history, people, culture, partners, and the customers we serve.  I have really enjoyed learning about the Co-op Movement. Two things have really stood out for me at this early stage and partly explains the longevity of the company’s success: its values, and the depth of support it provides across the UK. 

Values

CCF is built on core Co-op principles and values. These principles give clarity and cohesion to activities which underpin all aspects of work. Not only is CCF clear about the social outcomes it seeks to achieve, but it is clear about the way those social outcomes are achieved. This really gives the organisation a clear sense of social mission and purpose.

Equity, Equality and Caring for Others are embedded in the Co-op Movement and part of the DNA. Recent research by Co-ops UK has stated that young people align closely with Co-op values when looking to start new businesses. The social nature of work and related benefits of a positive work environment were brought into focus with the Covid-19 pandemic. Many people are now looking for new ways to live and work more aligned with Co-op approaches and philosophy.

UK Lending

CCF is a national lender across Wales, Scotland, Northern Ireland, and England. It is great to see Co-ops flourishing across the UK. I recently visited Boundary Brewery in Belfast who are opening Northern Ireland’s first community pub. CCF has helped Boundary Brewery expand and grow, with two previous loans. We are now working with other partners and alongside a community share raise to support the opening of Taproom (a bar directly connected to a brewery).  The taproom will create ten new jobs and embraces community ownership.

In Scotland we are supporting Dunbar Bakery based in the Coastal Town of Dunbar, East Lothian. We were able to provide investment support to purchase new equipment. The bakery is helping keep the local high street active and employs local people. Young people benefit from apprenticeships opportunities.

In Wales we are working with Co-ops on community housing. Having a national presence has helped CCF respond to regional demand and better serve the sector. 

Another couple of days to look forward to are the Worker Co-op Weekend at the end of the month. This is an opportunity to meet Co-operators from across the UK who have helped create and steer the sector over recent years.

At 100 day in, I can say I am really enjoying being part of the CCF team and the broader Co-op Movement. Working directly with businesses who are rooted in their communities is like nothing else – I’m looking forward to my next 200 days, and beyond.

I am always happy to talk about any potential or existing lending – my contact details are on this page

The theme for Earth Day 2022 is ‘Invest in our Planet’ and this year the day is focused on accelerating solutions to combat our greatest threat, climate change, and to activate everyone – governments, citizens, and businesses – to do their part.

As a responsible finance provider, this is something we are 100% behind. The campaign website says this:

This is the moment to change it all — the business climate, the political climate, and how we take action on climate. Now is the time for the unstoppable courage to preserve and protect our health, our families, and our livelihoods.

For Earth Day 2022, we need to act (boldly), innovate (broadly), and implement (equitably). It’s going to take all of us. All in. Businesses, governments, and citizens — everyone accounted for, and everyone accountable. A partnership for the planet.

We couldn’t agree more. With our lending, we seek to build the world we want to see and our Ethical Policy includes both positive and negative criteria which guide our investment decisions. On environmental matters, these include the following positive criteria

• Companies which provide solutions to climate change through the development, promotion and/or use of renewable energy and energy efficiency.
• Companies which promote recycling and sustainable waste management.
• Companies which operate good environmental practice.

and negative criteria

• Companies which have been convicted of serious environmental pollution.
• Companies which use timber from unsustainable sources.
• Companies which manufacture and/or distribute pesticide products which are harmful to the environment.

It is clear that business is powerful – we can all see the harms that have been caused by doing things the old way. We urge other finance providers to follow our lead and commit to building a better world, for us all, this Earth Day and beyond.

FInd out more about Earth Day here

After saying goodbye to CCF stalwart Ian Rothwell at the beginning of 2022, and as we move into the new financial year, we’re also saying goodbye to our home of 16 years, our offices in Brunswick Court, Bristol.

We have had 16 happy years at Brunswick Court – as you can see in our photos above – and were delighted to be able to rent the space from an ethical landlord. We are really pleased to have found carbon neutral, sustainable business hub Future Leap, again in Bristol, which we will be using for meetings and regular days of working together.

In some ways, this is a huge change but, like so many organisations, we have found that a 99% shift to working from home has worked really well for us. We’re a core team of four and have always had remote work and regular office days together as part of our employee offer. As a responsible financier, we couldn’t ignore the fact that when we support borrowers, we would encourage them to look at their budget and identify any marginal, flexible or unnecessary expenses – and it felt morally imperative that we practiced what we preach. We have always enjoyed our work together days and really are looking forward to meeting each other, and connecting with other, like minded organisations, in the sustainable space provided by Future Leap.

Operations and FCA Compliance Manager Alain says,

When I first joined CCF in April 2006, I started working part-time at our former office in a building that used to be a bank in Old Street, London. I was living in Bristol, so the plan was always to move the office there and we found a new home and new friends in Brunswick Court, an Ethical Property Company building, full of likeminded organisations and charities. 

It has been a wonderful home over the last 16 years, but the pandemic distanced us from a rigid head office setup as we all settled into home working. When Anne and I spent a week recently clearing out the office, we weighed in 1.175 tonnes of paper from 12 filing cabinets to be securely shredded! Suffice to say we had not looked in those filing cabinets for two years!

I would like to thank our former landlord, EPC for their support over the years and helping with the move. A new era has begun as we move to Futureleap where we look froward to meeting and working with a new set of likeminded people and businesses.  

Our updated contact details are below and our old details will redirect for the first three months.

1-3 Gloucester Road Bristol BS7 8AA    Tel: 0800 464 7262

Members, friends, supporters and interested parties – please save the date now for our 2022 AGM

It will be held on Thursday 30th June 2022.

More info to follow.