What is Profit for Good?

Profit for Good was launched in June 2019 with the aim of increasing enterprise within the social sector. Its two primary purposes are to:

1. Increase the likelihood of involved organisations to generate and sustain earned income.

2. Enable leader(s) within the organisation to be agile under pressure, adopt a flexible mindset and embrace complexity.

Each year 10 organisations from Rank’s Network are selected to be part of the programme. Organisations are supported to build their enterprising project with:

  • Access to a 3-year grant. Up to £10,000 in the first year, and a mix of pure grant and matched trading in years 2 and 3 to incentivise earned income, with a maximum grant value of £22.5K.
  • A place on a 3-month social enterprise accelerator programme delivered online by Social Enterprise Academy.
  • A full funded place in an Action Learning Set, where leaders are provided with a space for peer-learning and solution-based discussions.
  • Participants will get to showcase their enterprise projects at a Rank Foundation event attended by the Rank team, Trustees, and Network members.

Successful organisations will support one leader with business growth and development including:

  • grant and match funding
  • exploring alternative sources of finance
  • expanding their innovative idea
  • allowing space and time to evaluate innovative approaches
  • developing technical skills
  • peer learning and support
  • pitch and presentation practice

Applications are open to Rank Network members that have been operating a not-for-profit for at least 3 years, with plans to generate income through enterprise.

Enterprise that have already received funding from Profit for Good Programme or Plymouth Rise Trade Up Programme are not eligible to apply.