Oxford Wood Recycling, a member of the Community Wood Recycling network founded in 2005, has been awarded £250,000 by the Postcode Innovation Trust, which provides sustainable funding for social enterprises with money raised by players of People’s Postcode Lottery. The aim of the Postcode Innovation Trust is to support social enterprises in Britain who wish to deliver innovative and effective projects to their local community and beyond.
The Social Investment Programme, which this award was part of, provides a blended finance of grant and loan that will allow Oxford Wood Recycling to continue its mission of social inclusion, giving back to the community and lessening the impact on our environment.
The money will be used for:
- Expansion and re-development of the existing premises in Abingdon
- A new mezzanine, creating extra workshop and manufacturing space, as well as a training area, and possible future classroom
- Replacing 2 ageing vehicles over the next 2 years
- Sponsoring the appointment of a full-time Collections Manager and a Lead Carpenter
- Performing annual impact reviews and training
Richard Snow, founder of Oxford Wood Recycling, said:
“The award from Postcode Innovation Trust has allowed us to put in place a dynamic and ambitious three-year business plan for resilience and growth when current global conditions make business planning a real challenge.
We are very passionate about sustainability and for us it means paying special attention to people as well as to our environment. We hope to help prove over the next three years that values-led business, social enterprise or business with purpose – whatever you want to call it – is the key to economic success in a changing world where the light shines ever brighter on inequality and injustice. Thanks to all of the players of People’s Postcode Lottery for the support.”