Interior Savings and Valley First have teamed up once again to support social enterprise in Kamloops and surrounding area. For the fourth year in a row, the credit unions will sponsor social enterprises to participate in the Resilience & Recovery Program, a 6-12 month entrepreneurial coaching program, co-delivered by Purppl and Kamloops Innovation. The program helps social enterprises and social purpose organizations (SPOs) build sustainability and resilience in four key areas: revenue, operations, people, and impact.
KAMLOOPS APPLICATIONS OPEN
Applications are now open for Kamloops social purpose organizations who are looking for entrepreneurial coaching and are dedicated to advancing a social, cultural or environmental mission. “Our purpose at Friendly Composting will always be our guiding principle” says Katie Forsyth, Co-Founder of Friendly Composting, “and we are so grateful to have been able to access business support like Purppl’s coaching program, to help us focus on revenue sustainability and customer relations”
45% INCREASE IN DEMAND FOR SOCIAL ENTERPRISE SERVICES MEANS NON-PROFITS SEEK NEW WAYS TO FUND THEIR PROGRAMS TOO
“Overlapping challenges like the pandemic, climate change, and the overdose crisis highlight the valuable services social enterprise and social purpose organizations provide in our communities. The last 2 years have seen a reported 45% increase in demand for social services with many seeing demand grow faster than their capacity. Innovation and experimentation has increased dramatically to meet those needs,” says Andrew Greer, Managing Director at Purppl.
“Social enterprises use entrepreneurship as a tool to create revenue and positive social impact. Many employ local staff and create employment opportunities while also solving a systemic social challenge. . Social entrepreneurship is a critical part of a just, regenerative economy.”
A key benefit of the social enterprise approach is that you not only create individual businesses, but develop a network of social purpose organizations that is dedicated to economic growth and reinvestment in local neighborhoods. Credit Unions such as Interior Savings and Valley First have long supported local, and the pandemic has reaffirmed their commitment to programs such as this.
ENTREPRENEURIAL COACHING AND SUPPORT
Successful applicants will receive a one-time grant, subsidizing their participation in Purppl’s Resilience & Recovery Program for 6-12 months. Social purpose organizations work with an entrepreneur-in-residence to build financial resilience, improve their impact, and develop their leadership skills.
In the past 12 months, the program has helped participating social enterprises to launch and grow social enterprise revenue streams, improve internal and external communication, redesign programs and services, improve financial sustainability, and to support new leadership. This coaching helps to provide the capacity and capability leaders need to succeed in these challenging times.
Kamloops Innovation has been a longtime delivery partner of the program in Kamloops. Executive Director, Dr. Lincoln Smith sees the need. “As our community grows, so does the need for innovation around cultural, social, and environmental challenges. This program provides real time coaching and expertise to help social entrepreneurs build sustainable revenue streams in order to build sustainable social impact.”
ORGANIZATION ELIGIBILITY CRITERIA
- Must be a social purpose organization (charity, nonprofit, social enterprise, co-operative, or for-profit social enterprise), with preference given to social enterprise initiatives
- Facing challenges or opportunities in one or more of the four sustainability focus areas (revenue, operations, leadership, impact)
- Must have at least one paid staff position
- Located in the Kamloops and surrounding region (includes Shuswap, Salmon Arm, Ashcroft etc)
- Able to contribute a minimum of 25% of the program costs ($400-$500 per month) for the duration of the 6 or 12-month program. Some organizations with greater ability to contribute more may be asked, but not required, to do so.
PROGRAM FOCUS AREAS
- Revenue: Build, refine, and grow a sustainable revenue model.
- Operations: Improve capacity and operational efficiency. Evolve products, services, or technology to meet changing demands.
- Leadership: Strengthen teams, culture, and leadership.
- Impact: Define your desired community impact, develop steps to get there, and relevant impact metrics.
Eligible organizations are invited to submit a short application before September 9th, 2022 at 5:00 PDT.
Shortlisted applicants may be contacted for a short discovery call in September. Successful applicants will be notified in mid to late September/early October 2022.
For more information about the application or program, please contact Domenica Chieffo, Operations Coordinator of Purppl CCC at email@example.com.