Homeless Charities Given &poound;5m in Payment By Results
- 28 Nov
London Charities tackling rough sleeping who miss out on support, have been given a potential £5 million boost in a payment by results scheme.
The Greater London Authority has commissioned homelessness charities St Mungo's and Thames Reach to provide the new homelessness service as part of a social investment plan to help 831 rough sleepers.
It is designed to work with rough sleepers who miss out on support because they are neither long-term rough sleepers nor new to the streets.
This group accounted for almost half of all rough sleepers in London over the past year.
The GLA worked with the Communities and Local Government department and social finance advisory service Social Finance to develop the homelessness bond, which will run for three years.
Its aim is to reduce rough sleeping by helping people into stable accommodation, getting them into employment and managing their health better.
Social impact bonds allow private investors and philanthropists to support a project but only pay out if the project is successful.
Mayor of London Boris Johnson said:
I am determined to halt the persistent problem of rough sleeping in London, and while we have made great strides in cutting the number of entrenched rough sleepers there is still much more to do. This complex issue requires innovative solutions, and our social impact bond is a good opportunity to encourage philanthropists and the private sector to help deliver a vital public service.
Housing minister Mark Prisk said:
The mayor's pioneering social impact bond for London's rough sleepers, backed by government funding, is already leading the way, giving the capital's homelessness charities the freedom to try new ideas to help the city's most frequent rough sleepers - who account for nearly half of all rough sleeping in London.
By paying them by results the government can ensure the best value for money, and we can help find the services that really do transform lives for the better.
The government is keen to develop more social impact bonds and announced a £20 million social outcomes fund last week for more SIBs. This was alongside the homelessness SIB and a five-year programme commissioned by Essex Council to try to prevent 100 teenagers ending up in care.
Prime minister David Cameron said:
I'm delighted that we're taking another lead in launching the social outcomes fund, which will enable more innovative social impact bonds like the two announced.
By providing new forms of finance to invest in more early intervention programmes we can help the most vulnerable and reduce demands on the state.
Source: Inside Housing
- 06 Feb
Housing association helps the environment and homeless at the same time
Northward Housing and The Mustard Tree homeless charity have teamed up to help get people back into work. The charity's Standfirm enterprise sees properties left by Northward's tenants, who have...
- 03 Feb
Trash to treasure scheme
Mr Pearce, from Broughton, Salford, is launching a new social enterprise ‘Old to New Furnishings', with the help of a grant from social housing provider Salix Homes. This new enterprise renovates...
- 27 Jan
WakeOrDonate app helps charity's gain donations
WakeOrDonate is a mobile phone app which will make a donation to a charity each time the snooze button is pressed on someone's phone alarm. The app has been developed by Ronan Finnegan, a nineteen...
- 06 Sep
A new approach to help people find care
A peer-support model is a way of working that allows the sector to save money whilst also giving reliable support and care to those needing it. Peer brokers will help other care-users manage their...
- 07 Jun
Pilot Project Shows Social Enterprises Can Tackle Local Problems
The JRF pilot project in Bradford shows the untapped potential that locally based social enterprises have to solve local problems.The report also says that local authorities should place a higher...
- 29 May
Charities would rather trade as a Social Enterprise
The results of the survey showed 92% said they would like to increase their income from trading and government contracts in the next three years.From asking 100 charities, the results shows that more...
- 03 May
Charities and Businesses form New Social Enterprise
New methods need to be found for funding new social enterprises to free them from traditional methods and generate new methods of spending as well as methods of funding.Foundations traditionally...
- 27 Mar
Social Enterprise to help those with learning difficulties is expanding!
Loddon Social Enterprise will from next month be able to provide facilities where cooking, artwork and computer skills can be learned to increase the work experience for adults who have learning...
- 08 Mar
Social enterprise spending to reduce reoffending
The process still seems to be a learning process at present, and the ministry have recently completed a consultation on the sector to gain helpful feedback.They will be giving out a second grant to...
- 28 Feb
Remploy Workers want to buy Factory as Social Enterprise
The factories that make components and assemble car parts in Birmingham, Coventry and Derby, will lose all funding from the government by September.They were left open when thirty four Remploy...
Revenue Optimisation "I am really impressed with Support Solutions and how small organisations are supported with information and training" Susan Harrison (Tenant Support Services)