The Community Business Fund has been launched by Power to Change and offers grants ranging from £50,000 to £300,000 to community businesses across the country.
Community businesses helped share news of the launch yesterday by sharing images of themselves on social media with their hands in the air celebrating their success using #handsupforCB.
One example of a community business in action is Kiveton Park and Wales CDT (Community Development Trust) in Rotherham, South Yorkshire.
The trust is transforming derelict land in the town into a state-of-the-art football pitch to help improve the health and wellbeing of the community using a £300,000 grant.
The trust is led by local people and has 200 members and community groups that feed into development plans.
Steph Hryschko, chair of Kiveton Park and Wales CDT, said: “My dad worked underground at Kiveton Colliery for 27 years.
“It destroyed his health and he died of emphysema like so many of his generation from our community.
“It is a sweet irony that we will have such an amazing facility on top of that same land to improve the health of this generation and the next. A great legacy our mining forebears would be proud of.
“It’s amazing for a small community like ours to have the best facility now in all of South Yorkshire! There is great excitement in the community ahead of the pitch opening next month and we want everyone to enjoy the new facilities and improve their wellbeing through sport.”
Speaking on the launch, Vidhya Alakeson, chief executive of Power to Change, added: “We are proud to celebrate the achievements of community businesses today and raise awareness of the valuable contribution they make.
“Community businesses are boosting their local economies, creating jobs, and like Kiveton Park and Wales CDT, improving local people’s lives and making their local area a better place to live.
“Our new £10m fund which we are launching today will support existing community businesses to continue to grow, prosper and to sustain themselves long into the future.
“If you know or run a great community business in your area, tweet about it using #handsupforCB and join in the discussion and celebration.”
To find out more about the fund and for details on eligibility, click here.