A £12m fund which will encourage ambitious Third Sector organisations to become more enterprising is to open for applications in the new year.

The Scottish Government's Third Sector Enterprise Fund will offer between £25,000 and £100,000 to organisations wishing to build their capacity, capability and financial sustainability.

Enterprise Minister Jim Mather revealed details of the fund at today's Social Firms Scotland annual general meeting in Edinburgh and said supporting the Third Sector was a crucial element of the Scottish Government's economic recovery programme.

He said: "Scotland's Third Sector connects with some of the most vulnerable people in society, often creating valuable employment opportunities. In the current climate, when many people are feeling the effects of the global downturn, it is even more important to utilise the Third Sector's contribution towards increasing sustainable economic growth and helping Scotland to emerge stronger from the current downturn.

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"We want the Fund to help organisations demonstrate how enterprising approaches can strengthen their capacity and potential. In turn this will increase their contribution towards creating the wealthier and fairer nation we all seek."

Green MSPs have worked closely in developing the fund. Patrick Harvie MSP said the mid-sized organisations which the Third Sector Enterprise Fund will support are precisely those groups which are working hardest to weave the values of social enterprise into the fabric of Scottish society.

"There could not be a better time for this investment to kick in, given the urgency of both the economic situation and the climate crisis we all face. The Scottish Green MSPs are therefore delighted to have worked with the Scottish Government to support the development of this fund, which will help strengthen and grow the brightest and best of Scotland's social enterprises," he said.

The new fund has been welcomed by organisations including the Scottish Social Enterprise Coalition and Senscot, which works to support social entrepreneurs in Scotland.

(GK/JM)