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 • plan effectively for the long-term future of government regeneration and funding programmes, in order to preserve their achievements and foster realistic engagement by partnerships in trading activities, by: − equipping partnerships and projects to operate on a sufficiently large scale to achieve sustainability − encouraging community groups and projects to trade with one another more effectively (as already happens in the private sector) − gearing funding to discourage grant dependency and to encourage collaboration. 236
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 9.2 Working with development workers Third sector trading organisations commonly enjoy excellent relationships with social enterprise development staff in support agencies. But there is need for improvements in the way support overall is managed and delivered in Wales so that limited resources can be deployed most effectively. The challenges: Resourcing for enterprise development in the third sector has tended to be patchy and unco-ordinated. Public spending cuts will certainly make matters worse at a time when the need for trading by community groups and charities is growing substantially. The possibilities: Developing and sustaining a vibrant and successful trading third sector requires business and third sector support agencies of all kinds to: • Develop greater levels of specialism among staff so that workers have in-depth knowledge on issues such as finance, business planning, legal structures, quality and service procurement. • Co-ordinate with other agencies to make best use of resources. • Encourage links between funding and development support, so that trading organisations can get the best possible value from their grants, and technical expertise is delivered to initiatives which will make best use of it (it’s an unpalatable truth that social enterprise support is often rather wasteful, as some sceptics delight in pointing out.) • Recognise the value of: − supporting networking between social enterprise practitioners − encouraging the sharing of knowledge and experience among enterprises through conferences, workshops, and case studies − assisting organisations which host research and learning visits from other groups to generate consultancy income from doing so. 237
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A guide to third sector trading - WCVA

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