£10m fund launched to help social enterprises making a difference in the West Midlands

The Resonance Enterprise Investment (REI) fund will provide finance options to organisations tackling some of the country’s most pressing challenges, including improving health and wellbeing, reducing economic inequality and the transition to a low-carbon economy.

There will be an initial focus on those delivering in the region, the South West and the North West, but with the capacity to invest in enterprises across the rest of England if required.

REI aims to empower social enterprises that often struggle to access the right kind of investment by giving them access to funding to scale their work and deliver tangible benefits to communities.

Leila Sharland, acting head of growing enterprises at Resonance, said: “Social enterprises are driving real change, but they often face barriers to growth. REI is designed to remove those barriers.

“Our goal is to help these organisations expand their impact, improve lives and create a better living environment.”

The REI Fund launch follows the success of Resonance’s Social Investment Tax Relief (SITR) and growth funds, which successfully made 123 investments, with £9.9 million previously raised from 145 investors.

Investors, including Unity Trust Bank, Enterprise for Development and The Ceniarth UK Foundation, have already pledged to back the new fund.

Seb Elsworth, CEO of Access, said: “We’re pleased to see the launch of the Resonance Enterprise Investment fund, which has been part-funded through our Flexible Finance programme.

“The unique approach will help social enterprises access the kind of patient, flexible finance they need to grow and deliver lasting impact. By combining our grant - with backing from Unity Trust Bank and the British Business Bank’s guarantee scheme - this fund will strengthen the flow of capital into communities that need it most.”

Diane Isenberg, trustee of The Ceniarth UK Foundation said: “We were delighted to participate in the launch of the REI Fund and to provide catalytic capital in order to complete this blended facility.

“We are focused specifically on improving livelihoods for those in disinvested areas of the country. The type of community finance employed by REI is a key lever for development in these communities.”

Example initiatives that could attract investment through the REI Fund include a small social enterprise brewery expanding to create employment and support for adults with learning disabilities and autism and registering a domically care team specialised in end-of-life care with the Care Quality Council (CQC).

Also, in the pipeline for the fund, is a community wood project that trains people experiencing long-term unemployment while also offering local people access to high quality reused wood.

Keith Palmer, founder of Enterprise for Development, said: “We are delighted that Enterprise for Development is part of this exciting venture.

"The fund also benefits from the Growth Guarantee Scheme, provided by British Business Bank, and a substantial Access (the foundation for social investment) grant; both designed to lower the cost of capital to recipients of investment from the fund, enhancing affordability.”

Reinald de Monchy, chief banking officer at the British Business Bank, concluded: “One of our key priorities is supporting smaller businesses in underserved communities across the UK, and it’s good to see Resonance Enterprise Investment fund utilising our Growth Guarantee Scheme to help achieve that goal.

“We look forward to seeing the impact this fund will have across the South West, North West and West Midlands in 2026.”