Incorporation for local Partnership
A South Shropshire partnership had enjoyed fifteen years of successful trading in rehabilitation and recovery, building a reputation as the UK’s premier provider of those services. However, throughout those fifteen successful years it had consistently struggled to access external grant-based finance to support its projects.
58Twelve’s research revealed that many potential funders held a misplaced perception that any funds provided would ultimately be for the benefit of the partners. While the mis-perception could have been corrected in a face-to-face meeting, those face-to-face opportunities were not arising because applications were failing at the first stage.
We worked with the partners to unpack their options. An obvious solution would have been to leave things unchanged and abandon attempts to access third-party grant funding. However, it was clear that for the vision to reach its full potential, third party funding would be vital.
Working with the partnership lawyers and tax advisers, 58Twelve took the lead role in incorporating the partnership as a not-for-profit company, a process that was competed successfully with minimal operational impact.
Since then, the Company has secured several substantial grants, which have facilitated capital investment that has helped to move the organisation towards the fulfilment of its vision.
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