During Covid, Key Fund worked with partners to distribute emergency grants. In the medium-term, there is a strong role for grants with an investment mind-set; enabling entrepreneurs to build resilient enterprises in a very deliberate way – not bootstrapping on a grant funded project, without the right time and space to learn and develop.

The key issues we now face include how we can support a ‘just-transition’ whilst also helping to reduce or stabilise the cost of energy, with products that enable retrofitting energy saving, or generating, technology in the buildings that our enterprises operate from.

How we ensure more people have access to affordable, good quality food, given that we have clients who are already doing really important work to address food poverty.

How we support those left struggling from the pandemic, such as those young people who lost crucial years of their education, and now need support with employment and training.

But we can only address these effectively if Key Fund’s supporters, partners, and funders come with us on this journey to use our collective skills, experience, knowledge, and resources to do more.

In addition, we are committed to continue to think deeply and to instigate actions to increase our equality, diversity, and inclusion work. It’s not just about reaching the most disadvantaged places, but the most marginalised groups in those places, who have traditionally been unable to access finance. Our mission to create successful communities can’t work if there are people still left behind.

There is much to do. We are in a space of profound need. Together, we have got to step up.

Matt Smith, CEO

We have to work collaboratively to work smarter, to do more with less. Key Fund has a strong reputation for reaching underserved communities, which is why many funding organisations work with us. We are well placed then to truly listen to our communities to really understand the kinds of support needed.

Social and community enterprises never fail to instil a sense of inspiration. They are run by remarkable people doing essential work in that gap between what people need and what the state can provide. The case studies in this report are humbling to read. They also give a renewed sense of urgency to our work.

I’m beyond proud of Matt Smith and all the Key Fund team, who continue to meet the on-going challenges head-on, with passion and with care. As a board, we work to instil confidence, to provide support and leadership, as well as challenge and scrutinise this incredible organisation so it continues to move in the right direction.

As more people in our communities make impossible decisions during this cost-of-living crisis, the Key Fund’s mission to get the right money and support into the right places at the right time, couldn’t be more important.

Sam Keighley, Chair