A Victorian jute philanthropist fund’s for social enterprise has managed to secure fresh finances.
The father of social enterprise in Dundee, John Sharp, known as ‘Honest John’, was a former mill owner who left a legacy to the city.
His money has helped the city create more social enterprises than anywhere else in Scotland, but now the pot will run dry.
The 19th Century jute-spinner and manufacturer was also president of the Dundee Chamber of Commerce and supported a variety of causes.
His company operated three mills employing more than 1,200 workers.
The original mill in Miln Street was demolished and is now a car park for Verdant Works, the former Bower Mill in Douglas Street is a car showroom, and the Edward Street Mill is a housing association property.
Now his legacy, the John Sharp Futures Fund, will make way for the Dundee Futures Fund.
The new scheme is being financed by the Rank Foundation and will ensure the development of social enterprise in the city continues over the next three years.
A celebration of the new chapter in Dundee’s social enterprise movement is to be held on Wednesday at the Fun Factory, just one of the city’s successful social enterprises.
A Dragons’ Den style event will mark the end of the grant support from the John Sharp Futures Fund and the launch of the Dundee Futures Fund at the centre on Balunie Drive, from 6.30pm.
Awards totalling £15,000 are to be made to those that make a successful ‘pitch’ and the final awardees of the John Sharp Futures Fund will also be announced.
Derek Marshall, chairman of Dundee Social Enterprise Network (DSEN) said: “Over the last two years, we have worked in partnership with the John Sharp Benevolent Trust to support new social enterprise start-ups and help existing companies to grow.
“We now have 46 social enterprises that are members of DSEN trading in the city. Together, they employ 750 people and have a business turnover of £19.5 million.
“We are seeing growing numbers of organisations and individuals choosing social enterprise as an attractive business option for generating income and profits to reinvest for the benefit of their community.
“This is an exciting time for social enterprise in Dundee and with the secure financial backing of the Rank Foundation we are set to deliver a major boost to the growth of the sector and create more new job opportunities over the next three years.
“As well as awarding grants, we are committed to supporting new start-ups or existing organisations developing new ideas, every step of the way.”