VENTURE CAPITAL OR VENTURE SOCIAL?
The Beautiful Ideas Co. is led by a collective of local entrepreneurs and leaders committed to North Liverpool:
Although Beautiful Ideas Co. is a relatively new Community Interest Company (well, 3 or so years old), our collective experience is drawn from across the public, private and community sectors. We can demonstrate a track record of delivering comparable schemes, often in unlikely and challenging environments.
The Board has invested £225,000 so far and that investment has already attracted another £100,000 of investment in the enterprise portfolio. BICo asks for 1% of turnover and repayment of the debt, although agreements are customised to suit each venture. Enterprises can take a repayment holiday of up to three years as long as funds are repaid within ten years and BICo has committed to never taking funds that will put an enterprise at risk, put anyone out of a job, or put a trading business into the red.
Based only on those investments approved to date, the enterprises launched so far collectively aim to turnover £1.5 million in year one, generating a return of £15,000 for BICo to reinvest, rising to a projected £2 million by year three, when BICO anticipate a 1% revenue participation return of circa £20,000 and the start of most loan repayments delivering around £30,000 each year.
Article taken from Beautiful Ideas Prospectus and written by Erika Rushton.