This page will help you prepare for your Community Asset Transfer (CAT) application, by looking at business planning and managing risks.
Business planning is about how to plan for your project.
If you are invited to submit a CAT application, a business plan template will be provided.
- Can you show that you have a good business plan?
- Financial strength, can you show that the project is sustainable?
- Community support, is your organisation able to demonstrate local need and community support?
Things to think about
- What is the demand for using the asset, in the local neighbourhood or as a citywide resource?
- How will you find this out?
- How will you market your project? You’ll need to develop clear marketing plans on how you plan to market your project and attract the community and other users
- How will you sustain existing use?
- How will you assess what is affordable?
- Costs to hire the asset - will you introduce different hiring rates? For example, lower rate for local community groups
- How could you support new groups to help them develop?
- How could you harness more volunteers and expertise from the local community or businesses?
- Are there other funds and new initiatives you could tap into?
- How can you generate additional funding, for example, targeted fund raising?
- Is there an opportunity to develop a trading arm, for example. a community café, becoming a local training provider, providing office space and support for small businesses?
- How will you encourage innovation in the running of the asset or within the community?
- How will you assess risks throughout the project? How you will you work out solutions to manage these risks?
Monitoring and evaluation
- Have you got clear aims and objectives for this project?
- Are all the key people signed up to these?
- Have you allowed for flexibility and dealing with the unexpected?
- How will you know you have achieved the aims and objectives for using this asset? What will success look like?
- What steps and checks will you put in to ensure your plans are reviewed and evaluated on a regular basis?
- How will you include users and/or local people in monitoring progress and informing them of progress?
- What will you do if things are not going to plan?