9/7/2023 0 Comments Open road alliance![]() ![]() In a three-month period over the spring, the ORA had 1500 inquiries, triple what the funder normally gets in an entire year. It’s therefore little surprise that Open Road Alliance, a market leader in social sector bridge funding, has seen a huge uptick in demand for its services. Yet overnight these enterprises have themselves become vulnerable to forces beyond their control. They often employ those furthest from the labour market such as the homeless, those with disabilities, veterans and youth. Ironically, social enterprises work hard to expose the inequalities and cracks in our system that affect the most vulnerable and disadvantaged. The decisions for social entrepreneurs can be tough: choose between slowing down impact, for instance, or letting some people go.Ī survey of over 200 social enterprises in the UK earlier this year found that 61% expected to make staff redundant as a result of COVID-19. Meanwhile, fundraising is more difficult as things move online, investors shore up their own portfolios and tighten their belts to reduce their exposure to risk. Many social entrepreneurs are facing cash flow challenges with funding that is often unpredictable and tight. ![]() For some, the hit is personal for others working in certain sectors, it’s a financial catastrophe. Dominated by a global pandemic that shows little signs of abating, the wide-ranging and complex consequences are still largely uncertain. No one would claim that 2020 has been an easy year. ![]()
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