The chance for people and communities to grow ideas into small businesses.
Find out how Purple Shoots can help you
Get Involved – it doesn’t take much to turn someone’s life around using their own talents
Purple Shoots has achieved a lot but the demand and need for more support is huge. You could help by:
If you’d like to get involved or just find out more, click on any of the above links and contact us at:
Purple Shoots is able to accept loans from individuals or businesses and can pay interest on these loans.
In addition, lenders could be eligible for 25% tax relief over 5 years under the Community Investment Tax Relief Scheme. This scheme is intended to stimulate private investment in disadvantaged communities by providing a tax incentive to individuals and companies who invest in Purple Shoots (or other accredited CDFIs) for on-lending.
This tax relief scheme is available to both individuals and companies (subject to certain conditions) and is worth up to 25% of the value of the investment over 5 years starting in the year the investment is made. For more information, please see our guidance notes HERE.
The HMRC website also has guidance for investors who may be considering investing under the scheme and a helpsheet about claiming the relief. The scheme is jointly administered by HMRC and the Department of Business Innovation and Skills.
Please ensure that professional investment advice has been obtained before investing.
Please let us know what skills you are able to offer, any particular sectors or types of business you feel able to help, where you are located and how much time you are prepared to give and we will link you with one or more borrower. Mentoring is not giving advice, it is about listening, encouraging and helping the business owner reach his own decisions.