Local Access is a joint funding programme, established by Access and Big Society Capital to test if we can build stronger, more resilient and sustainable social economies in disadvantaged places.
We will aim to provide better access to advice, learning and flexible capital to support early generation and establishment of enterprise models for charities and social enterprises in a place, in order to make that place more resilient; and encourage and enable collaboration between charities, social enterprises, investors and other actors in a place across a number of areas:
- Building strong and sustainable local support systems to underpin enterprise growth and resilience for charities and social enterprises;
- Pooling and sharing resources to support more efficient delivery models for investment or interventions;
- Promoting collaborative or joint access to local pots of funding incorporating both grant and repayable finance; and
- Promoting and strengthening local money flows to keep capital within local social economies (thus reducing ‘leakage’).
Local Access aims to develop blended finance provision with local partners, which may be delivered by selected social investors. Local Access will be financed by £10m of dormant accounts money allocated to us from the government’s Reclaim Fund, and around £15m of repayable finance provided by Big Society Capital.
More information about where Local Access will operate in England will be announced later in 2019.