An initiative to support local social enterprises in Lambeth, the Metropolitan Business Incubator, was launched on April 24 by local MP Chuka Umunna. The incubator will provide small social enterprises in Lambeth with the space and opportunity to grow.
The Young Foundation is proud to be involved in the project – providing advice and support to the early-stage ventures on how to develop business models and win contracts. Metropolitan has provided space at the incubator, which was once an empty retail unit, as part of the £500 million regeneration of Clapham Park.
The incubator will help businesses which address a social need get their ventures off the ground. Two are already operating from the incubator space: Urban Construction Services which focuses on employment for young people; and Community Therapy and Training Services offering talking therapies and social empowerment models to help people lead fulfilled lives.
Sandra Ferguson, Head of Community Regeneration at Metropolitan, said: “In partnering with The Young Foundation to provide work space, business support, advice and vital connections, we are lowering start-up costs and risks and improving the chances of these fantastic local ventures succeeding. They have great potential to contribute to solving real problems affecting the lives of the people who live in our communities.”