Social Enterprises Delivering Health Services to Get Extended Support
New as well as existing social enterprises delivering health care services are provided investment by the Social Enterprise Investment Fund (SEIF). In 2007, this fund was set up in order to stimulate the expansion of social enterprises providing health care facilities in the UK. The main aim of Social Enterprise Investment Fund is to enhance the quality of services being offered to patients across the country. This objective is being met by enabling social firms to provide quality social and health care services to the patients.
Futurebuilders England manages this fund on behalf of the Department for Health. In association with Partnerships UK, it provides extended services to this department in order to extend support to organizations that aim to become a social enterprise delivering health as well as social care services. Futurebuilders England and Partnerships UK will also be working in co-ordination with an independent investment panel to support and manage investments made by the Social Enterprise Investment Fund.
Social enterprises that are looking for ways to expand their services in the health sector can apply to this investment fund. The fund also receives applications from group of professionals such as nurse and doctors who want to form a social enterprise and offer quality health care services. Enterprises that apply to this investment fund are required to be working as a non-profit organization.
In an attempt to encourage more applications, Futurebuilders England will be coming up with new financial solutions such as grants, equity investment products and loans. The fund will also offer business support services for the development of social enterprises. In order to bring new as well as existing social firms together, SEIF conducts workshops where the firm owners can get a clear idea of the potential challenges companies might face in this sector. With the help of these workshops SEIF plans to develop understanding of the present and future contribution of social firms in community and primary care. These are also effective in making the benefits and opportunities of a good relation between public sector and service providers prominent.