Resonance, the social impact investment company, has launched a social investment tax relief fund in the West Midlands. The fund opened last week and is inviting investment that will be deployed to help social enterprises across the region to grow and increase their impact. Social investment tax relief (SITR) was introduced in 2014 to encourage investment in social enterprises and allows investors to claim back 30% of the amount invested against their income tax bill. This is the second of the organisation’s SITR funds, following a successful launch in Bristol in 2016. The Resonance Bristol SITR fund has now raised £2.3m of its £5m target raise and has made its first six investments. In its first year it invested in local newspaper group Bristol 24/7 to help it set up local hubs and train people, the South Bristol Sports Centre, which uses sport to engage young people in deprived areas … (To read the full article, subscribe below)

Clare Goff

Clare Goff is editor of New Start magazine