If creativity is about having ideas and innovation is about turning those ideas into solutions, then enterprise is about making those solutions sustainable through generating income from a mixed economy, as well as developing skills, capacity and impact. At its best, enterprise enables organisations to grow roots and wings at the same time.
This is easier said than done, especially when working tirelessly to deliver front-line services, but the benefits are high; more income, more freedom to operate, greater social impact and becoming less reliant on grants.
Enterprise is a vital part of social production and is a more recently defined aspect of The Rank Foundation’s strategy.
It’s aims are:
- To be more enterprising about how we support and fund organisations. This includes:
- awarding grants that enable organisations to increase sustainability through generating income in diverse ways
- offering repayable grants to those who have a well developed product and business plan
- being more enterprising in how we support organisations, particularly through development bursaries and RankNet
- To support enterprising initiatives that stimulate the job market and encourage entrepreneurial endeavour; providing employment or employability opportunities for those furthest from paid work opportunities.
The Rank Foundation is committed to supporting organisations to be resilient and sustainable in the years ahead, in order to maintain impact for the communities they serve.