We listen with our hearts. We walk alongside our clients

In the pages of this report, you’ll glimpse behind the stats and figures of our investments, very human, and powerful, stories. There is endurance, action, compassion, innovation, resilience and courage – often in the face of daunting challenges. The stories of so-called ordinary folk doing extraordinary things.

Just like in a novel, a hero or heroine strives for a goal, while facing an enormous hurdle or obstacle, (in fact, the story of one of these case studies, Homebaked Bakery, was turned into a stage musical, described as ‘Bake Off meets Brassed Off’).

When it comes to the hurdles, it feels to me this last year has been characterised by uncertainty.

Just when you think you’ve got to the top of the mountain and the world will go back to normal, there’s another mountain, and then, another.

War in Ukraine and the Middle East, an energy and costof- living crisis, political uncertainty.

Operating in this backdrop, means we have had to flex and bend to support our clients, so they can deliver the vital work they do in our communities; work that has been put under increased pressure and faced rising demand, as the wider economic challenges lead to more societal ones.

Our Flexible Finance Fund for example, does what it says on the tin. There are examples in this report that show how it has helped our clients survive, then succeed, when contracts haven’t been paid on time.

We do that by listening to their needs, thoughtfully responding, and thinking ahead. By developing products and services that will meaningfully address these needs.

It’s why this year, we’re offering more new products and services, than at any other time.

For example, many of our clients reported huge hikes in their running costs. Our Energy Resilience Fund enables them to retrofit energy generating or saving technology on community owned or managed buildings to help reduce, or stabilise those costs. We help them to understand the benefits, to help future proof their enterprise.

It’s not about handing over the money and saying ‘job done.’ We’re investing our team’s time and expertise into their development. Going by the testimonials in these pages, it’s working. We listen with our hearts. We walk alongside our clients.

We do this so well, because we are them.

As a social enterprise ourselves, we have to get our funding mix right in order to ensure we can deliver the right products and services in an ever-changing market.

Our success is after all their success. And their success, is all of ours.

As you’ll see in these case studies, it goes beyond stats and figures. It’s immeasurable. It takes place in countless hearts and minds.

Matt Smith, CEO

Purpose, Responsibility, Respect, Integrity, and Courage

As Matt said in the introduction, this year has been another year of uncertainty. I am grateful to the whole Key Fund staff team for the tenacity and versatility they have shown, yet again, in supporting our clients to make sure they receive the right money, at the right time, into the right way. Clearly succeeding by modelling Key Fund values, Purpose, Responsibility, Respect, Integrity, and Courage.

Working in this way has resulted in a total investment this year of £3,965,000 into 100 organisations that have supported just over 526,000 individuals.

The investment, as the stories in this report testify, are transformative. Thoughtful, considered access to the right type of funding enables these extraordinary social enterprises to profoundly change lives. Which in turn can bolster communities.

The work these organisations do releases pressure on our statutory and public sector services, making our communities better places to live and work. They can even do the seemingly impossible: tackling entrenched, enduring challenges, from addiction to climate change.

Our funders are key. Their long-term funding stability allows us to address our clients’ needs in these times of instability.

Their support allows us to flex, while staying fixed to our values and focussed on delivering our continued mission.

It allows us to listen, adapt, and find meaningful solutions to support our clients in a shifting market, where the only constant is inconsistency.

This year shows how working collaboratively – with our partners and funders – has never been so pressing.

The enormity of the challenges facing these organisations, particularly those supporting most marginalised groups, means we can’t do this alone.

We need both local and national government, our funders, and partners, to be laser-focussed in how we can be the very best we can be – to get the funding right – so we can adapt to the challenges social enterprises face today and tomorrow.

Collectively, we can create the positive change we all want to see.

Sam Keighley, Chair