Glossary

A

Action Plans

A term generally used to activity in Priority 4a area, where a number of projects come together as one strategic package, rather than as a series of individual projects.

ACU

The Active Community Unit (ACU) is a unit in the Home Office which aims to promote the development of the voluntary and community sector and encourage people to become actively involved in their communities particularly in deprived areas.

Added Value

Added value occurs when grant funding purchases additional outputs or outcomes to those that would be achieved with mainstream budgets. What is new or additional to the area and/or initiative. This is used to show how the value of an initial investment can be upped or enhanced by what the organisation does with that investment. For example, a Trust might give £10k to a project, that then brings in volunteers and other expertise to run that project, thus adding to the original investment of £10k.

Additionality

A way of measuring the benefits of a project which highlights the changes brought about which wouldn't have occurred if the project had not taken place. Aims and objectives: the result a project is intended to achieve e.g. to create additional jobs for local people.

Aims

The overall result the project is expected to achieve. Specific tasks or things that you want to achieve. Often used interchangeably with "goals" or "objectives", although there is a difference between aims and objectives. For example, an aim might improve the quality of funding applications to charitable trusts. In order to reach that aim one objective might be to offer training, information and advice to applicants.

Appraisal

The process whereby project applications are assessed for eligibility, fit, value for money, and quality.

Asset Based Development

A development strategy that recognises that the possession of tangible assets - land, buildings or a dedicated income - is the key to achieving the goals of self-sufficiency, independence and sustainability, which underpin community based regeneration organisations.

B

BEM

Black & Ethnic Minority is a generic term used to embrace the Black Ethnic Minorities in the community. Ethnic Minority being a person or group of people from a different culture, religion or language to the main one in a particular place.

Benchmark

Benchmarks are a standard point of reference against which progress can be assessed.

Beneficiaries

People who benefit from the projects.

Best Value

Requires Local Authorities to review services - challenging whether they are still needed, whether they adequately meet current or expected future needs and whether the service should continue to be provided in the same way. Best Value is seen as a means of ensuring services are based on the priorities in the community strategy and expected to result in more diverse service provision with the private, voluntary and community sectors taking a greater role.

BITC

Business in the Community (BITC) is a unique movement of over 700 of the UK's top companies committed to improving their positive impact on society.

Business Plan

A written plan setting out what an organisation intends to do over the coming period of time, say 1 to 3 years, and what money and other resources it will need in order to achieve it.

C

Capacity Building

The use of organisational development models and training to develop a community's skills. The aim is to increase the ability and willingness of community members to initiate projects, programmes, and businesses, to organise these ventures, and to keep them running. This body of talent, skill and experience is known as a community organisational capacity. It is at once the key product, and driving force behind the community's economic development.

Capital

One-off purchases, normally referring to equipment and buildings.

Cash Flow

Month by month summary of cash inflows and outflows of a business

CBED

Community Based Economic Development

CBI

The Confederation of British Industry (CBI) is one of the UK's largest independent employers' organisation. Its mission statement is to help create and sustain the conditions in which business in the UK can compete and prosper to the benefit of all.

CDFI's

Community Development Finance Initiatives (CDFIs) deliver community development finance. The Association is a trade association for UK and describes them as "financial service providers whose mission specifically requires them to achieve social objectives." They look for financial stability as well as the effect on society (making a long-term and positive difference to the communities they work with. Both of these are essential to their mission and success). They supply capital and business support to individuals and organisations that are often refused these services by mainstream financial services providers, focusing on disadvantaged communities and under-served markets.

CDVCF

Community Development Venture Capital Fund (CDVCF) is a particular type of CDFI that specialises in equity investments as opposed to loan finance. CDVCFs are relatively new to the UK and are usually run for profit, offering a return to investors, although sometimes at a lower estimated return than conventional venture capital.

CED

Community Economic Development (CED) is about developing how goods, services and employment are provided at a local level, and developing the economic wealth of a neighbourhood. It has been defined by Greater London Enterprise as "a range of activities and interventions creating local wealth and employment, and pooling skills within the community for the benefit of local people."

CEN

The Community Empowerment Network (CEN) is an independent network within the Voluntary, Community and faith Sectors in Doncaster. It exists to provide a means by which the sector can play an active role and participate in the Neighbourhood Renewal of Doncaster.

Charity

A Charity is an organisation set up entirely for charitable purposes that acts for public benefit.

CITR

Community Investment Tax Relief (CITR) is a tax credit worth 5% of the value of the investment each year over five years. Investments must be made through an accredited CDFI. This is discussed in detail in the section on Community Investment Tax Relief Schemes.

Co-operative

An autonomous association of persons united voluntarily to meet their common economic, social, and cultural needs and aspirations through a jointly-owned and democratically-controlled enterprise.

Common Bond

Credit unions all have a common bond, which determine who is able to join them. There are 4 main types of common bond: Community or Residential - anyone who lives within its boundary; Live or work - people who work within an area may join the credit union as well; Employment or Industrial - all employees in a company or group of companies; Associational - membership of a trade union, trade association or other group.

Community Business

A trading organisation which is set up, owned and controlled by the local community and which aims to create ultimately self-supporting jobs for local people and be a focus for local development. The term Community Business is normally used for social enterprises that have a strong geographical definition and focus on local markets and local services.

Community Development Finance

Providing debt and equity finance (loans and shares) in communities or markets where mainstream financial services are weak and which are said to be 'undercapitalised'. Community development finance provides financial services for for-private-profit businesses working in disadvantaged neighbourhoods and for social enterprise activity.

Community Empowerment Fund

A three-year funding programme administered by the Government Offices for the Regions to enable community and voluntary groups to get involved in Local Strategic Partnerships in the 88 most deprived Local Authority areas. Lead organisations in each area will bring together and develop a representative community network to link with Local Strategic Partnerships and decide how the Community Empowerment Fund should be used. Possible uses suggested include outreach, newsletters, surveys, training for community members of Local Strategic Partnerships.

Community Enterprise

Community enterprises are social enterprises that are community-led organisations. They support economic and community regeneration and renewal. They trade for a social purpose and invest surpluses in further enterprise development and for community benefit.

Community Foundations

These are grant-making trusts that build and manage endowments for the long-term benefit of voluntary and community groups within a specific geographic area. Donations are raised from the public and private sectors and from individuals to provide continuous income from the interest paid on the endowment.

Community Leadership

Term used to describe Local Authorities leadership role with communities. It includes involvement in and learning from communities, building vision and direction, standing up for communities, being accountable to communities and working in partnership.

Community Planning

The process that Local Authorities use to work with communities to produce a Community Strategy.

Community Strategies

Local Authorities now have to prepare a community strategy for promoting the economic, social and environmental well being of their area and a vision for the future. The expectation is that this will be produced with organisations in the private, voluntary and community sectors.

Compact

A term being used by the Government meaning reaching an agreement with the voluntary and community sector on a broad set of principles that will underpin the way every government department or agency will work with voluntary and community organisations.

Company Limited by Guarantee

A company where instead of buying shares, each member provides a guarantee to provide a pre-determined amount if needed when the firm is wound-up, which may be as low as £1. Charities, Development Trusts, Social Firms and Community Businesses frequently use this form of incorporation.

Connexions

A service for all 13 - 19 year olds, providing information and support on education, training, employment and a wide range of other services.

Constitution

A document that an organisation produces in order to define the way it will operate.

Core Costs

These are the general, central costs involved in running an organisation, such as rent, heating, lighting, administration and management cost, the costs needed to run the central administration and develop the organisation. They are usually looked at as separate from project costs, which are the costs directly linked to a particular project. But all projects need to use some of the central services which are considered as 'core costs'.

Credit Union

A financial co-operative, which is owned and controlled by its members. As well as being a good savings option, with successful credit unions paying an annual dividend of up to 8%, the money saved can be used to make low interest loans to other credit union members. Only people who come within the common bond of the credit union can join it and make use of its services. The credit union is directed and controlled by a volunteer Board of Directors.

Criteria

The priorities and requirements laid down by funding bodies, which you have to meet for an application to be successful.

Cross Cutting Themes

The Cross-cutting themes run through all parts of Objective 1. The six themes are: Equalities, Environment, Employability, Gender Mainstreaming, Social Inclusion and Information Technology. All of which fit under the broader umbrella of sustainability.

CSEP

Community & Social Enterprise Partnership (CSEP) is a partnership in Doncaster with the aim of having a voice and opportunity to influence strategic decision-making processes regarding social enterprises and service delivery.

CSO

Central Statistical Office

CSR

Corporate Social Responsibility (CSR) is a wide-ranging agenda that involves businesses looking at how to improve their social, environmental and local economic impact, their influence on society, social cohesion and human rights, and fair trade. CSR is an issue both for large multinationals and for small, locally based businesses.

CVS

Doncaster Council for Voluntary Service (CVS) is a local independent charity and company limited by guarantee that works to promote, co-ordinate and support voluntary and community action in Doncaster Metropolitan Borough that leads to social change.

D

DEC

The visionary Doncaster Education City (DEC) project, using state of the art learning methods and materials will make learning exciting as well as developing a range of attractive and locally assessable Centres. Encouraging more people into education in Doncaster, enabling them to secure better skills and qualifications, which will provide them with better prospects to gain from any opportunities in the workforce.

DEFRA

Department for Environment, Food & Rural Affairs

Delivery Plan

All Single regeneration Budget (SRB) schemes have to prepare an annual delivery plan, spelling out how money will be spent and what it will achieve.

Development Trusts

Defined by the Development Trusts Association (DTA) as "enterprises with social objectives actively engaged in the regeneration of an area". They are engaged in the economic, environmental & social regeneration of a defined area or community: Independent and aiming for self sufficiency: Not for profit: Community based and owned and involved in partnerships between the community, voluntary, private and public sectors. Providing a great range of local services such as sports and recreational facilities, childcare centres, skills training, small-business support, building refurbishment, and managed workspace.

DfES

The Department for Education and Skills (DfES) was formerly known as The Department for Education and Employment. The DfES is charged with raising education standards and skills, providing information for employers, students, teachers and parents.

DOSH

DOSH is a forum for practitioners who want to meet up and/or work with each other in a practical way, around funding for voluntary and community groups in Doncaster. They work together to make sure groups are able to access information about funding and to encourage them to explore appropriate types of funding for their communities and/or projects. Meeting around every two months at Doncaster CVS.

DP

Driver Partnership (DP) is a group who represent a Priority (or in some cases sub-priority) and make decisions on the Priorities way forward. A Multi-agency partnership established to drive forward Programmes and include representatives from the public, private and voluntary sectors, who meet on a regular basis to agree the strategic approach for the delivery of Priorities and to consider projects and activities to support.

DSP

Doncaster Strategic Partnership

DTI

Department of Trade & Industry

E

EAZ

Education Action Zone is a National Government initiative aimed at building on the roles of schools by using local partnerships and raising levels of attainment.

Economic Development Plan

Annual plan comprising the local authorities economic development expenditure intentions for the coming year.

ECSC

European Coal and Steel Community

EIB

European Investment Bank

EIS

Euro Information Services (Business advisory service on European affairs, market opportunities etc)

Empowerment

Enabling people to take responsibility for themselves and helping them to make decisions about their lives.

Enabling Body

An organisation involved in supporting and developing new economic activity (e.g. in the CBED and Arts Sectors)

Enterprise Clusters

An enterprise cluster is when a number of businesses, which supply a similar product or service, locate within a closely defined geographical area for mutual benefit.

Equity Share

capital in a business

ERDF

The European Regional Development Fund (ERDF) is a Structural Fund aimed at eliminating inequalities between areas in the European Union by priorities. Regional aid to stimulate economic and social developments in the poorer regions of the European Union.

ES

Employment Service

ESF

The European Social Fund (ESF) is money from Europe focusing on issues of unemployment and training in order to enhance work opportunities. What activities can be funded through ESF depends upon the Objectives set at local level through the Objective 1 programme in South Yorkshire.

ESOP

Employee Share Ownership Plan (ESOP) is a plan that allows employees to participate in their business on a significant scale in a tax efficient way. An ESOP is a combination of an employee benefit trust (EBT) and a share distribution mechanism approved by the Inland revenue (in the form of a profit-sharing trust, a company share option, or saving-related share option).

Ethical investment

This is investment that takes account of ethical considerations, avoiding certain businesses that are seen as 'unethical', or specifically targeting those that promote positive environmental or social effects. Naturally, there is no universally agreed definition of what is and is not 'ethical'. The term is often used with 'socially responsible investment' and is most commonly used in the financial services or retail market.

Exit Strategy

How the project will end its activities or continue to progress once the European (or other) grant finishes. A plan, normally written down, of what will happen at the end of a project and how the project will be wound up.

F

Fair Trade

Is an alternative approach to conventional international trade. It is a trading partnership, which aims at sustainable development for excluded and disadvantaged producers. It seeks to do this by providing better trading conditions, by awareness raising and by campaigning. Examples include Cafédirect and Divine Chocolate. Many of the companies are structured as social enterprises.

Feasibility Study

A study that would identify whether a certain action should be carried out or not, and to help identify the best course of action.

G

GDP

Gross Domestic Product (GDP) is a measure of wealth of an area and its people.

Gender Inequalities

Differences between males and females that affect their ability to undertake activities like training and work.

Gender Mainstreaming

The process by which issues surrounding gender are incorporated in all policies, at all levels and at all stages.

Groundwork

A charity supporting regeneration through practical environmental work in deprived areas.

H

HAZ

Health Action Zones (HAZ) are partnerships between the NHS, local authorities, the voluntary and private sectors and local communities which represent a new approach to public health, linking health, regeneration, employment, education, housing and anti-poverty initiatives to respond to the needs of vulnerable groups and deprived communities.

HE/FE

Higher education / Further Education

Holistic

To consider the whole complete effect of a project or initiative, e.g. the whole of the New Deal Communities area, the people who live within the area and the groups operating within these areas and all the issues that are relevant.

I

I & PS

Industrial & Provident Society (I & PS) is a company incorporated under the Industrial and Provident Society Act, includes most co-operatives and some Development Trusts.

ICT

Information and Communication Technology - electronic communication systems.

ILM

Intermediate Labour Market is defined by the former Department of Transport, Local Government and the Regions, as a "a combination of training and employment which moves people off Income Support and into employment." Social firms (see also) operate in intermediate labour markets. ILM Projects provide training and work experience within the supportive structure of a community business. The work experience, often a year in length, provides a stepping stone to employment.

Inputs

The resources that go into a project to make it happen, like money, equipment and volunteers' time

IUK

Invest in UK (National inward investment agency)

J

Jargon

Specialised technical language of a particular subject. Learn Direct - an on-line learning project managed by the University for Industry.

K

Key Fund

The South Yorkshire Key Fund provides funding, support and advice to community and voluntary groups, projects and social enterprises across the region. It provides an innovative and dynamic approach to developments, helping promote and stimulate regeneration. With two main elements - The Key Fund for the Social Economy, working with social enterprises, offering grants, loans and business support for a wide range of community-focussed business ideas and Key Fund Global Grants to help community regeneration, developing skills, improving employability and developing resources. See also - South Yorkshire Key Fund - reference

L

Learning and Skills Council

The Government agency now responsible for adult training in England

LETS

Local Exchange Trading Schemes are community-based mutual aid networks in which people exchange all kinds of goods and services with one another, without the need for money. They are an organised form of barter.

Lifelong Learning

The continuos development of skills and knowledge to enhance quality of life and employment prospects.

Local Neighbourhood Renewal Strategies

A plan for positive change in neighbourhoods in need of renewal. The plan should contribute to the national strategy. Produced by Local Strategic Partnerships but should be agreed with and have commitment from key people and institutions who have a stake in the neighbourhood. Main stream funding programmes (existing long-term funds for education, health etc) should be "bent" (i.e. changed) to better address local priorities, especially in the most disadvantaged neighbourhoods.

LPSA

Local Public Service Agreements (LPSA) between individual local authorities and the Government setting out the authority´s commitment to deliver specific improvements in performance, and the Government commitment to reward these improvements. The agreement also records what the Government will do to help the authority achieve the improved performance.

LSP

Local Strategic Partnerships (LSP) bring together the different parts of the public sector with the private business, community and voluntary sectors in order to work together more effectively. They are expected to prepare and implement the community strategy and develop targets where there is to be a public service agreement. It is not a statutory requirement to have a Local Strategic Partnership but most Local Authorities (94%) are establishing or planning to establish one. In the 88 Local Authority areas eligible for the Neighbourhood Renewal Fund it is a condition of funding that a Partnership is developed. One of the roles of the Partnership will be to develop and deliver a local neighbourhood renewal strategy. Local Strategic Partnerships should rationalise and simplify other Local Partnerships arrangements and work with neighbourhood based partnerships.

M

Managed Work Space

Buildings, frequently converted buildings in deprived areas, that provide accommodation for start-up and existing businesses. In addition to leased space, new businesses also have access to training and advice. They also provide an important income stream to community regeneration organisations such as Development Trusts.

Match Funding

European funding does not provide 100% funding for projects. Therefore money has to be found from other sources to fund a project. This other money is match funding, the part of the projects' funding that comes from outside the structural funds. All Structural Funds resources have to be matched by other funds.

Micro - Business

Business Employing 1 - 5 Employees

Micro - Enterprise

A very small business usually defined as "a business with fewer than 10 staff". Sometimes defined as "a business with fewer than 5 staff". 89% of all UK businesses have fewer than 5 employees. Some Social Enterprise such as Development Trusts run programmes to assist Micro-enterprise.

Micro - loan Fund

A fund providing small loans (i.e., a particular form of micro-finance). A micro-loan fund is a specialised form of financial service based on distinct products specially designed to service micro-enterprises and is not merely the occasional provision of

Micro Finance

Small loans; savings facilities with no (or a very low) minimum deposit; and other financial services like insurance, money transfer or bill payment designed for people on low incomes.

Milestones

Key events with dates, marking a clear stage in completing a phase of the project or programme, i.e. towards a final outcome. Sometimes referred to as Landmarks or Targets. Usually identified in advance as part of a plan as important dates and measured to determine the success of the plan.

Mission Statement

A brief and broad statement of the overall goals and values that underpin the organisation and its work.

Monitoring

Regular collection and analysis of input, output and outcome date, along with information concerning the problems being tackled. Monitoring is a key part of "evaluation" and refers to the process by which you gather and record information about your work in order to evaluate its usefulness.

Mutualisation

Refers to the increased use of mutual organisation to provide services under contact to Local Authorities, either new services or existing services transferred to new mutual structures.

Mutuals

Take many forms: credit unions, co-operatives, building societies, and employee-owned businesses. They are organised by their members, who band together with the common purpose of providing a shared service from which they all benefit.

N

National Strategy for Neighbourhood Renewal

A strategy to tackle the problems of England's most deprived neighbourhoods arising out of work undertaken by the Social Exclusion Unit. Aims to ensure that in 10 -20 years time no one is deprived by where they live. Concentrates on improvements in health, education, housing and the physical environment and reductions in crime and unemployment. Emphasises the importance of involvement by local people.

NCVO

National Council for Voluntary Organisations - The charity in England that aims to speak for the voluntary sector. It gets involved in discussions over policy at a government level and attempts to represent the views of the voluntary sector to politicians and others.

NDC

New Deal for Communities is a government programme to regenerate 39 very deprived areas across England over a ten-year period.

Neighbourhood Renewal Community Chests Programme

Provides small grants to support and increase mutual self help and community activity in the 88 most deprived Local Authority areas.

Non-profit or 'Not-for-profit'

Terms commonly used to describe organisations, which do not distribute profits, although they seek to make an operating surplus.

NRF

Neighbourhood Renewal Fund is specific additional funding available over the next 3 years to provide public services and communities in the 88 poorest local authority districts with extra funds to tackle deprivation. The NRF Programme is part of the Government's £1.05bn commitment to tackle deprivation and improving disadvantaged areas (including mainstream services such as education, health and police).

O

Objective

The means by which you will achieve your aims

Objective 1

Objective 1 programmes help regions lagging behind the European Union average restructure.

Objective 1 Priorities

Within the Single Programming Document (SPD) there are six main areas of work. Each of these is areas are known as a Priority.

Objective 1 Programme Period

The Objective 1 programme runs from 2000 to 2006. Expenditure must all be made by 31st December 2008.

Objective 2

Objective 2 programmes help regions with specific incidences of industrial decline converge or re-convert.

Objective 3

Objective 3 programmes are not geographically targeted and deliver the European Employment Strategy

ODPM

Office of the Deputy Prime Minister (ODPM) is the Government department responsible for neighbourhood renewal, housing and urban policy. The ODPM includes the Neighbourhood Renewal Unit, the Regional Co-ordination Unit and Social Exclusion.

Outcomes

Outcomes measure the longer-term changes in an area that were brought about by the activity. For example the reduction of unemployment or crime, or the increase in wealth over a set period of time. An outcome is something that follows from an action e.g. as a result of an intiative the crime rate dropped by 15%.

Outputs

The physical or measurable results of a project (what the project produces or delivers) for example the number of people attending the projects training courses

P

PCT

Primary Care in the care provided by people you normally see when you first have a health problem. It might be a visit to a doctor or dentist, an optician for an eye test or just a trip to a pharmacy to buy cough mixture. NHS Walk-in Centers and the phone line service NHS Direct are also part of primary care. All of these services are managed by the local Primary Care Trust (PCT) and there are 302 of these, covering the whole of the UK.

PRI

Programme Related Investments (PRI) are a type of social investment that can be made by charities. They are charitable objectives and a financial return - although the financial return may be at a lower rate than an investment made with only a financial return as its aim. When making programme-related investments, the usual rules (as set out in the 2000 Trustee Act) obliging trustees to make the highest possible financial return do not apply. For example, a large operating charity may choose to lend money to a smaller charity with similar charitable purposes: the larger charity accepts that it could have made more financially if it invested in the commercial markets, but it is giving up part of the financial return to boost its social return.

Project Appraisal

The process of evaluating a proposed project to see if it is worth investing in.

Public Service Agreements

An agreement between Local Authorities and Central Government. Local Authorities will deliver agreed priorities in return for pump priming funds, financial rewards for meeting targets and the removal of some imposed regulations and requirements (such as the requirements to produce some plans). This will start with 20 Local Authorities and apply to a further 130 over the next 2 years.

Q

Quality Assurance

Evidence of clear, minimum standards to work to.

QUANGO

Quasi Autominous Non-Government Organisation (QUANGO) Semi-independent, non-elected bodies normally appointed by government, such as LSC's.

R

R & D

Research & Development

RDA

Regional Development Agency. Yorkshire Forwards RDA's have responsibility for directing economic development in the Yorkshire Region and for managing the relevant funds.

RECHAR

European Structural Fund for former coalfields communities coping with the effects of the decline of the industry

Regeneration

Action which leads to the solving of urban problems in areas, which have undergone decline. This action aims to achieve a lasting improvement in the physical, economic, social and environmental nature of an area.

RES

Regional Economic Strategy.

Revenue

A budgeting term for ongoing items of expenditure, such as wages rent, heating, lighting, travelling expenses etc.

RIF

A Registration of Interest (RIF) is a form used to log interest in delivering activity, outlining a basic project idea, within Objective 1. RIF's are filled in as part of the Commissioning process.

S

Sectors

Groupings of similar industrial / economic activities

SEN

Social Enterprise Network

SIA

Strategic Investment Areas

Single Pot

Successor funding to SRB and managed by the RDA - Yorkshire Forward and aimed at economic priorities.

SLA

Service Level Agreement (Agreements incorporating conditions of grant aid and outputs)

SME´s

Short for small and medium sized enterprises, i.e. companies employing less than 250 employees.

Social Audits

Social and ethical accounting and auditing are all methods of measuring and reporting on an organisation's social and ethical performance. An organisation which takes on an audit makes itself accountable to its stakeholders and commits itself to following the audit's recommendations.

Social Business

Term sometimes used by social enterprises where there is a small core of members who act in a similar way to trustees. These social businesses often focus on providing an income or employment opportunity for disadvantaged groups, or providing a service to the community.

Social Capital

By analogy with notions of physical capital and human capital--tools and training that enhance individual productivity--"social capital" refers to features of social organisation, such as networks, norms, and trust that facilitate co-ordination and co-operation for mutual benefit. Social capital enhances the benefits of investment in physical and human capital.

Social Economy

Is seen as existing between the private, market sector on the one hand and the public sector on the other and is separate from both. It includes not only Social Enterprise organisations but also voluntary organisations, foundations, trade unions, religious bodies and housing associations.

Social Enterprise

Businesses or organisations which have no shareholders and which are established and run by people in the voluntary and community sector

Social Entrepreneurs

An entrepreneur has imagination to identify new opportunities and determination to bring them to fruition. A social entrepreneur does so for public good rather than private profit.

Social Exclusion

Is a shorthand term for what can happen when individual or areas suffer from a combination of linked problems such as unemployment, poor skills, low incomes, poor housing, high crime environments, bad health and family breakdown. It can also have a wider meaning, which encompasses the exclusion of people from the normal exchanges, practices and rights of society.

Social Firm

Is a business created for the employment of people with a disability or other disadvantage in the labour market. It is a business which uses its market-oriented production of goods and services to pursue its social mission. A significant number of its employees will be people with a disability or other disadvantage in the labour market. Every worker is paid a market rate wage or salaries appropriate to the work whatever his/her productive capacity. Work opportunities are equal between disadvantaged and non-disadvantaged employees. All employees have the same employment rights and obligations.

Social Investment

Social investment is often used to mean the same thing as socially responsible investment (SRI). However, it is increasingly used by some people to mean investment that builds human or social capital. These people would say that whereas SRI uses more traditional commercial and financial ways of making investments (for example, ethical ISAs and pension funds), social investment uses non-traditional investment methods (in particular Community Development Finance Institutions) and targets under-invested communities. For more information on this subject, see Section C.

Socially Responsible

Investment Socially responsible investment combines investors' financial objectives with their commitment to social concerns, such as social justice, economic development or a healthy environment. It describes investment that takes account of the investors' values and objectives, whether social or environmental, while also delivering a financial return. The term is often used to mean the same as ethical investment and social investment. The UK Social Investment Forum (UKSIF) supports all types of socially responsible investment (see appendix A for useful contacts).

SPD

Single Programming Document (SPD) is the plan agreed between the European Commission on how Structural Funds will be spent in South Yorkshire. It incorporates a business plan or strategy outlining the Objectives of the Programme and a series of Priorities and Measures that outline the scope for projects which the Programme will fund.

SRB

Single Regeneration Budget (SRB) was money introduced to encourage a more co-ordinated approach to regeneration.

Stakeholder

A Group or an individual with an interest, usually physical or financial, in an initiative, project or activity and its outcomes.

Strategic Spatial Development

The development of geographical areas which have been identified.

Strategy

An overall plan which can be short, medium or long term, which clearly shows what is going to be achieved. A very broad plan defining your overall approach and direction.

Structural Funds

European financial instruments designed to assist states cope with industrial decline and redress economic and social disparities between regions. These are the main funds, within them you find ERDF, ESF and Community initiatives.

Surplus

The profit in many social enterprise organisations is referred to as surplus, to reflect their 'not-for-profit' status.

Sustainability

How the project will continue its activities once the funding expires.

SYFAB

South Yorkshire Funding Advice Bureau (SYFAB) is a voluntary organisation and registered charity set up to help voluntary and community organisations get the resources they need.

Synergy

How projects work together, avoiding duplication but creating partnerships by which the whole is greater that the parts.

T

Targets

Pre-set measures or achievements that the project hopes to meet.

Telematics

Transmission of information by telecommunication systems, specifically computers

The Power to Promote Well Being

A new general power that Local Authorities have to promote or improve the economic, social and environmental well being of their area.

The Social Investment Taskforce

The Social Investment Taskforce reported in November 2000 to the Chancellor of the Exchequer after having investigated how under-invested communities could encourage the input of finance and skills in order to develop strong local economies. Several of its recommendations are now in design - including the Community Investment Tax Credit, giving incentives to private investment. It is based on the principle that for too long public spending has compensated people for being poor, as opposed to building their wealth.

Third Sector

Term used to describe the voluntary and community sector.

Transformational Projects

A project of significant economic importance to the development of the town.

U

UfI

University for Industry

User-Friendly

Easy to approach, use or understand

V

Value For Money

Value for money is a term that is used to assess whether the grant is getting sufficient impact for the money spent. It is often calculated by dividing the total project costs by the number of beneficiaries that the project will reach. A study of the project to show that the work is effective (meets its aims) efficient and economic.

VAT

Value Added Tax

Venture Capital

Finance for a growing business whereby a portion of equity is sold for a major investment in the business

Venture Philanthropy

Venture Philanthropy is the process where individuals donate money, time and skills in social organisations. It takes the principles of venture capitalism and applies them to developing charitable organisations. According to US not-for-profit Social Venture Partners, "Venture philanthropy means funding organisations with not only financial resources, but also management and technical support. This support is focused on enabling non-profits to build greater organisational capacity and infrastructure through long-term, engaged relationships with investees."

Voluntary Sector

Independent voluntary or community groups that are not for profit organisations formed by people who have come together of their own free will to respond to issues regarding the quality of life of themselves or fellow citizens.

Y

Yorkshire Forward

The RDA for Yorkshire and the Humber is called Yorkshire Forward. It has teams based in each of Yorkshire's sub regions. In each team there is a regeneration programme manager with specific responsibilities for SRB schemes within the area and the single pot.