A guide to third sector trading - WCVA

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It’s an idea, but is it business? A guide to third sector trading 1: Getting started 2: First steps 3: Business planning 4: Legal and governance 5: Funding and resourcing 6: Financial controls 7: Managing growth 8: Management and governance 9: Social enterprise 10: Sources of support − other income generating activities which may be successful in themselves, but are being bled financially by the key project and by the need to fund the management team − a core management team which is grant funded separately or as part of the social activities – and whose vulnerability could bring the whole organisation down if support for it is withdrawn − staff and volunteer goodwill but not necessarily good practice • A model for sustainability: Not everyone can achieve all these characteristics, but becoming more sustainable involves a shift to: − recognising a new central role for the more vibrant, resilient, profitable and promising of the existing trading activities − recognising the potential to charge for existing free services − retaining the cherished activity which gives the organisation its social and ethical heart, but giving it a new place – where it faces the same economies and demands to generate income as everything else, but where its more modest role leaves it less exposed − new ‘add on’ projects and activities which can be developed at any time (and closed if they do not work or when funding runs out) but which do little to threaten the sustainable core. − fewer large ‘indispensable’ grants − fewer large irreplaceable contracts − a management and administrative core for the organisation which if at all possible is actually generating money as well as spending it on expensive staff (this could include regular income from building rents, or selling senior staff time and expertise through consultancies) 116
It’s an idea, but is it business? A guide to third sector trading 1: Getting started 2: First steps 3: Business planning 4: Legal and governance 5: Funding and resourcing 6: Financial controls 7: Managing growth 8: Management and governance 9: Social enterprise 10: Sources of support Flexible and diversified funding The flexible, sustainable Press – a case study: Wales’ first community business, Cwmbran Community Press became a genuinely sustainable enterprise with the capacity to donate its profits to a sister charity some seven years after it started. It achieved this with a mix of business and community project responses to a succession of crises: • starting as a grant-funded community newspaper run by community development staff • switching to commercial advertising and business sponsorship under volunteer control after two years when grant funding ended • buying a printing press so that the paper could be printed in-house when outside printing bills rose dramatically • starting a grant-funded book publishing project to expand the work of the printing business • starting a second hand bookshop to pay the rent when a tenant left • raising grant money for new projects to attract management fees and rental income – successively a volunteer officer, a parallel community newspaper in the neighbouring town of Pontypool,and a community information and training initiative related to the community paper. Cwmbran Community Press survived for 14 years in all and recycled profits of about £10,000 for its charity. This flexibility is not exceptional among long-lasting social enterprises – Amman Valley Enterprise took a similarly diverse course and survived for 20 years. • setting up a jobbing printing business to create jobs for two full-time volunteers who were under pressure to leave for paid work elsewhere 117
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