SWEDA seeks support for ‘Give Me 5’ Project

Give Me 5The concept is based on Micro-finance principles and SWEDA plans to run an initial pilot with local Colleges, schools and youth groups.

Give me 5 – will be a challenge where students and groups are brought together to create a local social enterprise and as such will undertake all of the associated enterprise activity. This will fulfil the requirements of one or more modules needed to complete their qualification but could also potentially lead to a more sustainable social enterprise – which may be able to be adopted by the sponsoring academy or associated college.

The Give me 5 principles are:

  • Groups are formed and generate ideas through the identification of areas of need within the local community. This can either be stand alone or alongside other provision (service providers) but their concept / idea / income generation should be able to be audited independently – and the impact (financial and non-financial can be verified)
  • Groups can be any size, but recommended min 5 – max 10
  • Groups will be provided with initial brief including background on social enterprise / legal structures and offered ‘introductory workshop’
  • Groups will be required to undertake some research in their local area to identify possible activity – community they wish to support (this can include an environmental project)
  • Groups can then apply for initial seed funding £5, £50, or £500. The requirements for each level are:

£5 – short term project up to 3 months – target return min £25 (keeping with the theme give me 5 in this case 5 times the initial seed funding) There should also be 1 other impact – this being the focus of the project e.g. health awareness or anti bullying or similar project. It may be theme based or seasonality based could like to an associated fair or similar.  At the end of the project not looking for sustainability – all profits made returned to SWEDA (giveme5.org.uk) to help fund future projects.

£50 – Medium Term around 6 months, target return £250, but could be a pilot for a more sustainable project – probably focus on a group or groups of individuals needing support, with 2 or 3 impact areas – all profits made returned to SWEDA (giveme5.org.uk) to help fund future projects. However if identified sustainable project developed and following return of target £250 further £500+ available – group and retain their own £500 (which they raised through the project) and move into sustainable stage. But agree to support Give Me 5 by 5% share of profits on an ongoing basis.

To find out more about how you may be able to get involved in the project, just get in touch.