What was their challenge?
Gateway into the Community have been offering support and services to people with learning disabilities since 1988. They are based in Hexham, in West Northumberland, and have been renting premises there since 2017. They have invested heavily into the building to make it perfect for their needs. However, in 2023 their landlord decided he wanted to sell the premises. The asking price was £550k. He gave Gateway first refusal to purchase the building, but as he wanted a quick sale, and their free reserves were limited, they were under pressure to raise the funds very quickly.
Gateway looked at various options for finance and decided that they would pursue a mix of grant funding and social investment. They approached Northstar Ventures, who manage the North East Social Investment Fund (NESIF), and were told they would need to write a business plan and financial forecasts to apply for social investment. Northstar helped them to secure REACH funding to pay for a consultant to support them in this, and Gateway appointed me to work with them on it.
Gateway looked at various options for finance and decided that they would pursue a mix of grant funding and social investment. They approached Northstar Ventures, who manage the North East Social Investment Fund (NESIF), and were told they would need to write a business plan and financial forecasts to apply for social investment. Northstar helped them to secure REACH funding to pay for a consultant to support them in this, and Gateway appointed me to work with them on it.
What was the support you provided / offered
Although Gateway already had a business plan and budgets which they used to direct their work, these were essentially internal documents, and the plan they needed for Northstar needed to focus on the project proposal and be convincing that the idea was robust and a sound investment.
The deadline was short, so we worked in a very focused way over a period of six weeks to produce a plan and forecasts for Northstar. (Normally completing a business plan for investment might take 12-24 weeks depending on how much of the activity is new for the organisation. )
I worked with Gateway’s Chief Executive (Julia Ferguson) and Finance Officer (Louise Humble) to develop and complete the business plan and supporting financial forecasts. We met two or three times each week to discuss different aspects of the work. I helped Julia to shape the plan and to focus her attention on the areas where she needed to draw on her organisational and sector knowledge and experience. I developed an Excel model for the financial forecasts and worked with Louise to populate it, and I extrapolated this to create profit and loss, balance sheets and cashflow forecasts and completed sensitivity analysis.
The deadline was short, so we worked in a very focused way over a period of six weeks to produce a plan and forecasts for Northstar. (Normally completing a business plan for investment might take 12-24 weeks depending on how much of the activity is new for the organisation. )
I worked with Gateway’s Chief Executive (Julia Ferguson) and Finance Officer (Louise Humble) to develop and complete the business plan and supporting financial forecasts. We met two or three times each week to discuss different aspects of the work. I helped Julia to shape the plan and to focus her attention on the areas where she needed to draw on her organisational and sector knowledge and experience. I developed an Excel model for the financial forecasts and worked with Louise to populate it, and I extrapolated this to create profit and loss, balance sheets and cashflow forecasts and completed sensitivity analysis.
What was the impact or outcome of support?
The plan and forecasts were completed in time for Northstar’s committee to consider the proposal at their December 2023 meeting. They agreed the investment, and this, together with a grant from Garfield Weston, enabled Gateway to make an offer for the building, which the landlord accepted.
After all the due diligence work was completed, the sale progressed, and was completed in March 2024.
Gateway into the Community are now the proud owners of their very own premises in the town they have operated from for over 35 years. This will provide a bedrock to sustain their activities and continue to develop the range of support they can offer to their members. They are now looking at ways to adapt the space to make it even more sustainable, including installing solar panels to reduce future energy costs.
After all the due diligence work was completed, the sale progressed, and was completed in March 2024.
Gateway into the Community are now the proud owners of their very own premises in the town they have operated from for over 35 years. This will provide a bedrock to sustain their activities and continue to develop the range of support they can offer to their members. They are now looking at ways to adapt the space to make it even more sustainable, including installing solar panels to reduce future energy costs.
I have worked within the Voluntary Sector for over 20 years and have experienced mentoring and received support around the different elements of running a charity. I have to say that out of all the training and experience I have gained throughout the years, the support I received from Margaret was without a doubt exceptional.
Margaret is a people person with an exceptional business mind. She understands the Voluntary Sector and I felt from day one, really understood who we were and what we are about. This was one of the most important things as our Charity is about people, their families and the community and Margaret really understood our passion.
I think that this understanding helped nurture and bring out the best of myself. She worked in a very methodical way with a step by step approach that did not overload with information and always ensured I understood every aspect of the business plan and finances.
This for me has been one of the best projects I have ever worked on and I have to say that I have enjoyed every minute of it. I feel that I have learnt a great deal and will be bringing this into my future planning and leadership. Margaret’s supportive manner meant that I honestly felt safe throughout the whole process considering the size and implications of the project we were working on.
I would endorse Margaret to any organisation looking for consultancy support around business planning, management and finance.
Margaret is a people person with an exceptional business mind. She understands the Voluntary Sector and I felt from day one, really understood who we were and what we are about. This was one of the most important things as our Charity is about people, their families and the community and Margaret really understood our passion.
I think that this understanding helped nurture and bring out the best of myself. She worked in a very methodical way with a step by step approach that did not overload with information and always ensured I understood every aspect of the business plan and finances.
This for me has been one of the best projects I have ever worked on and I have to say that I have enjoyed every minute of it. I feel that I have learnt a great deal and will be bringing this into my future planning and leadership. Margaret’s supportive manner meant that I honestly felt safe throughout the whole process considering the size and implications of the project we were working on.
I would endorse Margaret to any organisation looking for consultancy support around business planning, management and finance.