With the investment from Resilient Scotland, ng2 will seek to build the capacity of the organisation, allowing them to develop new contract opportunities. The increased income they hope to create from new contracts will allow them to develop more community regeneration activities.
Margaret Thomson, Chair of ng2 said, “We are delighted that Resilient Scotland is supporting new community based social enterprises like ng2. With Resilient Scotland’s investment, ng2 will be able to grow as a business and increase the range of services it provides for people in North Glasgow.”
GalGael will create a new timber business, which will allow them to generate additional income, provide new training opportunities from those disengaged from the labour market.
Gehan Macleod Programme Director, GalGael said, ”Resilient’s investment is the catalyst to help us create a financially sustainable organisation. We will be able to create a sustainable income stream, reduce our reliance on grant income and maximise our social impact.”
Resilient Scotland is committed to growing the social enterprise sector across 13 local authority areas and it has now invested £1.4m since early 2013. Through investment packages, it is providing community organisations with capital, giving them the opportunity to operate on a more enterprising and sustainable footing.
Chris Holloway, Head of Resilient Scotland adds, “Our aim is to empower communities to promote their own regeneration. These latest investments in ng2 and Galgael will improve their financial sustainability and in turn help them play a pivotal role in the regeneration of two of Glasgow’s most deprived areas. We hope that their success will inspire similar organisations to approach us for investment solutions.”