The Future Jobs Fund is a fund of around £1 billion to support the creation of jobs for long term unemployed young people and others who face significant disadvantage in the labour market.
The Fund was announced in Budget 2009 and is to be spent over the next two years. It is a challenge fund which invites organisations to submit bids for funding. The fund is run by the Department for Work and Pensions (DWP) in partnership with the Department for Communities and Local Government (CLG).

What is the funding for?
The Fund aims to create 150,000 jobs. These will be aimed primarily at 18-24 year olds who have been out of work for a year. The Government want to encourage innovative bids to create jobs and is keen to work with local authorities, social enterprises and charities to turn this important priority into a reality.

How much money is available?

The Future Jobs Fund contribution for each job will not exceed £6,500. We will welcome bids with a lower unit cost and/ or which align other funding streams to supplement Future Jobs Fund funding. All bids will also be expected to demonstrate value for money by delivering maximum benefit to individuals and communities for the cost incurred.

Who can apply?
Bids can come from anyone, but they have a strong preference for partnership bids. They expect the majority of bids to the Fund to be led by local authorities, sub-regional, city region and local partnerships, or by national or local public sector and third sector bodies.
They expect that bids to the Fund will be mainly from larger organisations - as a guide, bids should aim to create at least 30 jobs over a six month period. However, they are also keen for small and micro organisations, including social enterprises, to be involved, and so they strongly encourage such organisations to work in partnership with local authorities and/ or other third sector organisations to develop joint bids. They will continue to refine the bidding processes to ensure that we meet our aims and organisations of all sizes are involved.

When to apply
Assessment of bids will be continuous. Bids can be submitted at any time; the sooner the better. They will aim to notify bidders within 5 weeks of submitting a bid whether or not their bid was successful

It is essential to read all the criteria for this Fund . A complete guide to the Fund is available to download from http://www.dwp.gov.uk/campaigns/futurejobsfund/pdf/fjf-guide.pdf

How to apply
Bidding Forms and Guidance area available here.

Key words: job creation , social economy.