Open 4 Funding users secure £6.3 million in 12 months
- Published: 08 August 2016
Recent polling of Idox’s Open 4 Funding portals hosted by local support agencies across the UK demonstrates an impressive return on investment – with service users reporting a total of over £6.3 million in funding secured.
Open 4 Funding is used by local support bodies including local authorities, housing associations, voluntary umbrella bodies and Chambers of Commerce. It allows these organisations to provide a one-stop shop of EU, national and local Government, corporate, charitable trust and other funds available to businesses and communities in their region. Importantly, Open 4 Funding portals are entirely self-service for users – meaning no additional resources are required from the host organisation.
Open 4 Funding hosts gain insight into the use of the service through polling tools, helping them to measure engagement and return on investment. This feature invites service users to report funding they have received after identification on Open 4 Funding.
Polling data from the 12 months leading up to June 2016 for Open 4 Funding portals across the UK highlighted the following:
- Total value of reported successes: £6,322,272
- Highest total of returns reported in the year:
- £773,346 – a county-wide portal in the South East of England
- £680,000 – a London borough wide portal
- £662,586 – a county-wide portal in the Midlands
- £624,836 – a district county-wide portal in Scotland
- £447,150 – a metropolitan borough-wide portal in the North
The majority of portals reported successes in the £10,000-£60,000 range.
Commenting on the value of the Open 4 Funding service to her organisation, Development, Growth and Investment Project Manager Lavinia Ferguson of Tameside Metropolitan Borough Council said:
“We are always looking for innovative ways to support our residents and businesses to ensure they have access to all that is available, whether it is a grant, award or business support.
As a local authority, our residents and businesses contact us regularly for funding and support. We are able to signpost people to our Open 4 portals and allow them to seek funding and support as required, specifically relating to their area of business or community need.
Positive feedback to us shows how businesses and residents are benefiting from the funding opportunities they have identified through the portals.”
Further information about Open 4 Funding can be found at www.open4funding.co.uk