Future Jobs Fund RIP
The deadline for applications for the Future Jobs Fund has now passed. This leaves our plan to create an Incubator in Woking Surrey on hold. This would have taken 18-24 year old long term unemployed off the dole and into a training programme. Addressing their lack of self esteem and the ability to sell their skills to prospective employers.
When the Con Lib government came to power there was an element of throwing the baby out with the bath water. If it wasn’t invented by the new requiem it had to be cancelled to save money. I have spoken extensively in my blog about the failings of the Future Jobs Fund. But it at least gave funding to organisations to create opportunities for the long term unemployed.
We are left with the hope that after the Spending Review, on the 20th October, will introduce new schemes for the long termed unemployed. With the likelihood that these will start after Easter 2011.
The Big Society concept of payment by results will mean that any new Incubator will have to be properly capitalised. The Social IPO web site and events have been set up to address this.
It has also proposed that new job creation schemes and help for new businesses will not be targeted to the South East.
These factors point to the setting up of a national Incubator network called Small Business Success Centre.
I will post more on my blog, E newsletter and on this site about the development of this project.
Why cash shells rock
A cash shell is a simple way of taking a company public and achieving a cash injection. Some of these non trading vehicles are created intentionally by directors who are looking to reverse trading companies into the shell. These are defined as clean shells and are not likely to have any baggage.
Dirty shells have traded before and for some reason they have ceased trading in their previous form, but still have cash or assets linked to the company. Obviously these come with a health warning. There is a chance that the dirty shell will have someone with a grudge/law suit which will appear after the new owners take over. Very through due diligence is essential with any shell.
The management of a cash shell will be looking for a partner company that will give them a good return for their cash shell. Your company will have to have a strong board, good product and profit forecast.
So cash shells offer a quicker way to a small cap market, but come with some risks. They are more relevant now because they offer hard to find cash and company paper with a perceived value. Allowing the purchase of distressed companies for cash and company shares. Depending on the quality/price paid for the deal, it could help increase the share price of the new conglomerate.
£5000 prize competition
Your social enterprise could win £5000+ of active advise, software and links to potential investors. Leading to the chance to win £50,000 of investment.
Top Prize
Business plan boot camp and mentoring plus registration on the Angelsoft network of 20,000+ sophisticated investors.
Second Prize
Online network promotion and attending investor events
Third Prize
10 copies of Business Plan PC software
To enter goto http://socialenterprisecompetition.co.uk web site. Please read our competition terms before progressing.
Social Enterprise Competition is a non profit company run by David Bowman.
