Impact Hub Inverness worked with Portgordon Community Tust to help them develop efficient financial management systems so they can better manage their different projects and funding streams. PCT were able to access this support for free through the Just Enterprise programme.
Here's what Michelle Good from Portgordon Community Trust had to say about the support they received.
Here's what Michelle Good from Portgordon Community Trust had to say about the support they received.
Tell us a little bit about the organisation
"The organisation became Portgordon Community Trust Limited in Q3 2021, with a new name and revised constitution. The Trust currently has 7 directors and over 80 members.
PCT expanded its remit to support wider village aims. This was in response to the needs identified in multiple community consultations since 2017.
PCT is the lead organisation acting on behalf of the local community, not only for the future of the old Richmond Arms but also for regeneration initiatives at the harbour and right across the village. It incorporates Portgordon Community Hub Business Plan, the work of the previous Harbour Group as part of its operational activities and has brought other community groups into its activities. Though the focus is on the Richmond Arms development, this is the leading anchor organisation for the area and will become involved in wider regeneration initiatives over the years – fundamentally its objective is community regeneration."
Why did the organisation apply for support through Just Enterprise?
"I was struggling to keep an overview of the multiple project finances. As a new organisation that is now responsible for the management of multiple funding streams, it was presenting a real challenge to have a holistic overview of them all in one place"
What did the Just Enterprise support help the organisation with?
"Clarrie supported me to bring all the funds together an develop a spreadsheet that links all the funds with an overview, which allows me too keep track of income and expenditure."
What were the main things that happened as a result of the Just Enterprise support?
"It has increased our capacity and understanding of our finances in a holistic way and improved the overall management, overview and ability to respond, predict and manage our finances regarding projects and funders.
It has enabled me to liaise with the finance team in a more structured and responsive way, allowing us to reconcile bank/invoices and ensure that we are prepared to respond to invoice payments and draw down funding in a timely manner"
What are the organisation's plans for the future?
"The Portgordon Community Trust (PCT) have been involved in a vision for the development of the harbour and the surrounding area as part of a major regeneration of that part of Portgordon. The group are engaging with the Crown Estate Scotland (CES), who are keen to stimulate development of assets around the harbour by working in partnership with the community to enhance the historic harbour asset and its environs as a draw for locals and visitors. Our business plan sets out the viability of a community Hub for Portgordon, but it sits within a wider vision for a specific area of the village. PCT is a company limited by guarantee, that brings together a number of organisations in the village, including its predecessor organisation, Portgordon Harbour Group, who were the main drivers behind this project. There is a wider momentum from previous research, towards the creation of a single effective Hub for the village. Through a series of community engagements, the former Richmond Arms emerged as a strong development opportunity. CES purchased the Richmond Arms from its previous private owner to allow the community time to develop a robust business and funding plan for the purchase of the asset. PCT will be working towards ownership of the entire harbour over the next years, and the development of such a Hub is a crucial part of that."
Is there anything else you would like to add?
“It was getting to the point where I was having sleepless nights trying to “see” and manage multiple funding streams in a way that I could connect with and made sense. Clarrie met with me in person and really understood my needs. Using my efforts to date, she was able to adapt and produce a financial structure that really worked for me to support tour Finance Team . We are now able to monitor and manage our funds in a way that works for our organisation. It is with sincere thanks to Clarrie and the team at Impact Hub for their support.“
"The organisation became Portgordon Community Trust Limited in Q3 2021, with a new name and revised constitution. The Trust currently has 7 directors and over 80 members.
PCT expanded its remit to support wider village aims. This was in response to the needs identified in multiple community consultations since 2017.
PCT is the lead organisation acting on behalf of the local community, not only for the future of the old Richmond Arms but also for regeneration initiatives at the harbour and right across the village. It incorporates Portgordon Community Hub Business Plan, the work of the previous Harbour Group as part of its operational activities and has brought other community groups into its activities. Though the focus is on the Richmond Arms development, this is the leading anchor organisation for the area and will become involved in wider regeneration initiatives over the years – fundamentally its objective is community regeneration."
Why did the organisation apply for support through Just Enterprise?
"I was struggling to keep an overview of the multiple project finances. As a new organisation that is now responsible for the management of multiple funding streams, it was presenting a real challenge to have a holistic overview of them all in one place"
What did the Just Enterprise support help the organisation with?
"Clarrie supported me to bring all the funds together an develop a spreadsheet that links all the funds with an overview, which allows me too keep track of income and expenditure."
What were the main things that happened as a result of the Just Enterprise support?
"It has increased our capacity and understanding of our finances in a holistic way and improved the overall management, overview and ability to respond, predict and manage our finances regarding projects and funders.
It has enabled me to liaise with the finance team in a more structured and responsive way, allowing us to reconcile bank/invoices and ensure that we are prepared to respond to invoice payments and draw down funding in a timely manner"
What are the organisation's plans for the future?
"The Portgordon Community Trust (PCT) have been involved in a vision for the development of the harbour and the surrounding area as part of a major regeneration of that part of Portgordon. The group are engaging with the Crown Estate Scotland (CES), who are keen to stimulate development of assets around the harbour by working in partnership with the community to enhance the historic harbour asset and its environs as a draw for locals and visitors. Our business plan sets out the viability of a community Hub for Portgordon, but it sits within a wider vision for a specific area of the village. PCT is a company limited by guarantee, that brings together a number of organisations in the village, including its predecessor organisation, Portgordon Harbour Group, who were the main drivers behind this project. There is a wider momentum from previous research, towards the creation of a single effective Hub for the village. Through a series of community engagements, the former Richmond Arms emerged as a strong development opportunity. CES purchased the Richmond Arms from its previous private owner to allow the community time to develop a robust business and funding plan for the purchase of the asset. PCT will be working towards ownership of the entire harbour over the next years, and the development of such a Hub is a crucial part of that."
Is there anything else you would like to add?
“It was getting to the point where I was having sleepless nights trying to “see” and manage multiple funding streams in a way that I could connect with and made sense. Clarrie met with me in person and really understood my needs. Using my efforts to date, she was able to adapt and produce a financial structure that really worked for me to support tour Finance Team . We are now able to monitor and manage our funds in a way that works for our organisation. It is with sincere thanks to Clarrie and the team at Impact Hub for their support.“
