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FIRST STEPS IN ACCESSING SOCIAL INVESTMENT Social Enterprise North West Salford – 27 February 2014 Dan Hird Head of Corp PowerPoint Presentation
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FIRST STEPS IN ACCESSING SOCIAL INVESTMENT Social Enterprise North West Salford – 27 February 2014 Dan Hird Head of Corporate Finance Triodos Bank. First Steps in accessing social investment. First steps - evaluation - is a blended social and financial return achievable?

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FIRST STEPS IN ACCESSING SOCIAL INVESTMENT

Social Enterprise North West

Salford – 27 February 2014

Dan Hird

Head of Corporate Finance

Triodos Bank

first steps in accessing social investment
First Steps in accessing social investment

First steps - evaluation

- is a blended social and financial return achievable?

- identify business case and finance requirement

Investment readiness – what does this entail?

- business planning and financial modelling

- advice on governance – contracts, management etc

- plan deal structure and type of finance?

- data-room

- produce financial promotional material

- marketing plan

Investment readiness

first steps in accessing social investment1
First steps in accessing social investment

Investment & Contract Readiness Fund (ICRF)

- £10m fund administered by SIB on behalf of Cabinet Office

- provides access to a list of accredited intermediaries

- aimed at SEs looking to raise at least £0.5m of social investment

- grants of £50k - £150k available

Other forms of investment readiness support

- Big Lottery Fund – Social Incubator Fund & others

Investment readiness – financing support

first steps in accessing social investment2
First steps in accessing social investment

Social investors – a definition?

- motivated by a blended social and financial return

Social investors – who are they?

- institutions – charitable foundations, family offices and trusts, social investment funds

- intermediaries – private banks, IFAs, wealth managers

- retail – HNW investors and members of the public

- potential new investors – housing associations, LA pension schemes, corporates, University endowment funds

Social investment - a developing market and a new asset class .............

- BSC, SIBs, SITR, public sector reform, charity bonds

Accessing social investors

first steps in accessing social investment3
First steps in accessing social investment

Principal features

- introduction – April 2014 (subject to Royal Assent in July 2014)

- offers 30% up front income tax relief against an eligible social investment

- eligibility – unsecured investment (can be in the form of debt (bonds) or equity)

- eligibility – charities, CICs and CBCs – with less than 250 employees

- intended to work in a similar way to existing tax reliefs such as EIS, SEIS and VCTs

State Aid rules

- initial relief limited to around £200,000 per issuer

- Government is applying to EU for increase in relief (aim £5m by 2016?)

What effect could SITR have on the social investment market?

Social Investment Tax Relief (SITR)

triodos
Triodos

Dan Hird

Head of Corporate Finance

0117 980 9588

dan.hird@triodos.co.uk

www.triodos.co.uk

Contact details