The Social Enterprise Investment Fund (SEIF) is a Department of Health fund which provides investment to assist social enterprises delivering health and social care services. Since June 2009, the fund has been managed on behalf of the Department for Health by a consortium consisting of Futurebuilders England and Partnerships UK.
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The Strategic Context
The Government's vision for reform in health and social care services includes developing a provider market that is increasingly plural and diverse. This sets the context for new kinds of organizations to emerge, including social enterprises which provide more choices for patients and a higher quality, more responsive service.
The White Paper, 'Our Health, Our Care, Our Say' (January 2006) identified social enterprises as key means of delivering high quality health and social care services tailored to the needs of communities. It included a commitment to establish a SEIF from April 2007 to:
Most recently the High Quality Care For All: NHS Next Stage Review Final Report and the Primary and Community Care Strategy set out a vision for this change, stating the need to empower staff and give patients more choice.
The NHS Next Stage Review includes a number of recommendations that present huge opportunities for new and existing social enterprises. Significant recommendations include:
What the fund provides
The SEIF provides investment to new and existing social enterprises that are delivering or planning to bid for health and social care services contracts. The investments take the forms of loans, grants and professional support.