Rebecca White, CEO of Your Own Place CIC talking about her organisations’ experience of taking on social investment from Sumerian Partners, just before the COVID-19 hit. Listen to hear more about her patient equity investment deal that has allowed Your Own Place to scale up activity and employ a new member of the team.
Challenge
It costs the Government £26,000 per year, per person who becomes homeless. An eviction costs a social landlord £8,000. Homelessness prevention is key to not only saving money, but to removing barriers and liberating individuals who are disadvantaged by a flawed system.
Revenue Model
CIC with a huge diversity of income from donations, to restricted income and traded income. Your Own Place have secured patient capital to scale up activity and employ an Operations Manager in return for 20% of all profits. The capital will be repaid through income from traded services such as; a business mentoring programme, financial education in schools and a tenancy and independent living skills training programme.
Impact
Prevention is crucial to decrease unemployment and homelessness. By training and supporting individuals to become more confident and knowledgeable results in sustained tenancies, decreased homelessness and longer-term employment prospects.