SOCIAL enterprises have been urged to bid for funding of up to £50,000 from a scheme being launched by Santander.

The Santander Social Enterprise Development Awards open on June 3 with an increased number of prizes available this year for social enterprises in the North-East

The scheme offers social enterprises based in the North-East the opportunity to win funding and business support to help them grow and increase their social impact. 

The awards feature three prize funds - £50,000, £20,000 and £10,000 - dependent on turnover, for organisations working to improve social inclusion, support employment or create a greener environment.

Following the success of last year’s programme the number of awards has been increased to enable a greater number of social enterprises to be supported in 2013. 

To enter the competition, social enterprises should complete a short entry form downloadable from www.santanderseda.co.uk detailing how an award would be used to grow their business to benefit the community.

The deadline for applications is July 1 and the winners will be announced in September. 

Craig Iley, the regional director at Santander, said: “Social enterprises play a vital role in local communities and the Santander Social Enterprise Development Awards were set up to help these dynamic businesses increase the impact they have.

"We are committed to supporting the small business sector and we’re looking forward to supporting even more North-East social enterprises through the awards this year.”

Alongside the prize money, winning social enterprises receive a business support package from Santander including fully funded internships, business webinar presentations, consultancy days and the opportunity to network with other enterprises and small businesses.

Winning organisations will also receive valuable input from The Community Foundation Tyne & Wear and Northumberland which will work with them to assess the social impact of their business and the prize fund on local communities.