The Dormant Assets consultation – what is it and why does it matter?
Over the weekend, government launched the long-awaited consultation on Dormant Assets. This will determine how dormant assets funding, the forgotten assets from long-lost bank accounts and insurance policies, will be spent in future.
With at least £880 million of new money for good causes in the UK on the table – this is a once in a decade opportunity to influence how best to spend this money. This type of funding does not come along very often – it is long-term, strategic investment that has the potential to drive real tangible change.
Make your views heard – when and how to respond
The consultation is open now until Sunday 9 October. There is a straightforward questionnaire that individuals and organisations can answer. And you don’t have to answer every question if you don’t want to.
You can view all the questions in a word document here or you can get cracking and start answering the online survey here (you can save a draft and return to it if you wish).
Showing support for the Community Enterprise Growth Plan
Investors, entrepreneurs and communities have come together to develop a Community Enterprise Growth Plan. The plan would use new Dormant Assets funding to invest in community enterprise – the community-based businesses, social enterprises and trading charities taking entrepreneurial approaches to tackling social problems.
An investment of £500m over ten years would unlock at least the same amount of private capital, doubling the amount available to communities, and multiplying its impact as the use of loans to enterprises allows it to be recycled and go even further.
To support those submitting a response to the consultation, we have put together a short briefing looking at how the Community Enterprise Growth Plan would work and why it is needed.