We are pleased to report on the Year 2 impact of Financial Resilience Broxtowe which is supported by Shared Prosperity Funding from the UK Government as part of the Broxtowe UK Shared Prosperity Plan. The project formed part of a Broxtowe Borough Council’s wider planning to provide support to residents who struggle financially. The whole programme includes:
- Cost of Living Working Group to ensure that services and partners have a joined up approach.
- Funding to support Citizens Advice Broxtowe’s Financial Resilience programme.
- £27,200 of direct support to residents through the Household Support Fund and additional support with the purchase of white goods.
- £10,000 extension of the Mayor’s Christmas Hamper Appeal to provide warm hampers and items like slow cookers and air fryers to help people reduce their energy usage and stay warm.
- £13,000 to support Broxtowe food banks and food clubs.
The full impact report can be downloaded below but in summary it concludes:
- The project offers effective support to communities which do not traditionally benefit from economic investment and growth.
- it exceeded the projected key performance indicators
- reaches a cohort of people who have become economically inactive due to poor health
- delivered £1.4 million in additional income for beneficiaries
- proactive intervention has lowered indebtedness for the client group
- provides beneficiaries with the skills to manage problems in the future
- improves mental wellbeing reducing isolation and increasing optimism
- 90% of beneficiaries report a measure of improved financial resilience
- 89 people accessed jobs and skills support
- Financial Resilience Broxtowe is a lead partner reducing the level of debt owed by the community in Broxtowe
- a social return on investment of 22:1 or £22 for every £1 invested.
