We are delighted that our investment in The Boathouse CIC has been shortlisted for the Social Investment Deal of the Year at the UK Social Enterprise Awards 2024.
The £75,000 investment is notable for many reasons, not least because it forms part of the GROW Fund investment portfolio, which is the first 100% community-led investment fund in the UK.
The GROW Fund was designed by 12 local people and has helped hundreds of local entrepreneurs think bigger and bolder about their future. In the first round, it changed the trajectory of 10 social enterprises, which were awarded £25k in unrestricted grant funds and nine months of businesses development support through a partnership with Impact Hub London.
The Boathouse CIC, a multi-purpose arts and events space, is the first local enterprise to receive investment from the Fund.
About The Boathouse
The investment will accelerate the growth of The Boathouse by upgrading facilities and increasing brand recognition.
The GROW Fund enabled The Boathouse to test if minor facilities upgrades would increase revenue from event hires while the nine-month support programme helped The Boathouse understand alternative funding and to feel more comfortable with taking on debt.
The Boathouse’s growth is especially important for local people because with large tower block developments surrounding the venue, there is an increasing need for spaces for people to gather. The Boathouse is already hosting more birthdays, baby showers, mendhis, and has recently been granted ‘approved premises’ status for legal weddings and civil partnerships.
With £75,000 in investment from the GROW Fund, The Boathouse will further upgrade facilities and think more strategically about balancing commercial drivers with community projects like early childhood stay-and-plays, free performing arts events, and studio space for artist experimentation.
BD Giving and The Boathouse agree that other deprived areas can successfully build a social investment market if funders consider social investment as local partnerships.
“Our journey with BD Giving has been transformational. In my experience, the relationship with funders can feel arm's length and transactional, but this investment is not just about financial support; there's something deeply community about it. Together we’re creating space where community and creativity can thrive.”
About the Social Enterprise Awards
We’re nominated for the Social Investment Deal of the Year Award alongside Big Issue Invest, Great Western Credit Union, Impact Finance Consulting, Impact Hub London Ltd and Music Venue Properties Limited.
Run by Social Enterprise UK, the Awards celebrate the leading lights in the sector, showcasing diversity and impact across 15 categories.
Social enterprises are businesses that trade for a social or environmental purpose and reinvest at least half their profits to further that mission. There are around 131,000 social enterprises in the UK, employing 2.3 million people, and we’re delighted to be recognised as one of the best in this pioneering business movement.
We’ll join other finalists and VIP guests at a prestigious awards ceremony in London’s iconic Roundhouse on 4 December, when the winners will be revealed.
“We're honoured to see our investment in The Boathouse CIC recognised by Social Enterprise UK. If more funders rethink their approach to move beyond traditional models and embrace the potential that lies in community-led decisions, we can cultivate funding ecosystems that drive forward a new era of inclusive growth."
