Social and Sustainable Capital (SASC), a UK fund manager and social enterprise has invested £250,000 in Futures, a social enterprise which provides jobs and skills advice, training and apprenticeships in Nottinghamshire.
SASC has provided a loan of £250,000 to fund the expansion of the organisation’s support services for young people at risk of being not in education, employment or training (NEET) in Nottinghamshire.
Through an innovative project called Future Impact, developed in collaboration with local commissioners, Futures will address the hardest to reach part of their NEET cohort – young people with special education needs and disability.
The new service aims to work with 560 young people over a five year contract and support them into sustained employment. Young people are expected to benefit in several ways including overcoming barriers to learning and achievement, achieving at school or college, and moving from education or training into employment.
Ben Rick, Managing Director of SASC said, “Increased pressure on local authority budgets and increasing NEET numbers, mean these young people are at increased risk of becoming and staying out of education, employment or training.
“Futures has been awarded a contract to deliver this much needed service on a payment by results (PbR) basis. We’re delighted to invest in Futures and to be able to cover their working capital requirements before results can be evidenced.”
Sandra Cowley, Interim Chief Executive of Futures comments, “The work we do to help these young people is vital. Funding like this ensures they have access to long-term intensive support, which enables them to learn new skills and make a positive impact on their lives and the communities they live in.”