Bootstrap Company
About the investee
Website
http://www.bootstrapcompany.co.uk/
Twitter
@bootstrapco
Spokesperson and contact
Sarah Turnbull: [email protected]
Status
Social enterprise
What problem are they trying to
Lack of support for Small to Medium Enterprises.
tackle?
Bootstrap Company believes in the power of creativity and
micro-enterprises. They combine these elements to form a vital
asset within Dalston. Their core activities are focused on three
things:

Supporting lndividuals and Small to Medium Enterprises

Piloting innovative educational projects

Creating a space for cultural exchange
What services or interventions do
As well as providing high quality, affordable managed
they run?
workspace, they also support their tenants by providing
tailored business support, providing networking opportunities
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and promoting their work.
By leveraging the creative enterprises that are part of the
Bootstrap community, they develop programs that focus on
creative learning and career building.
Striving to push borders on re-imagining space and creating
unconventional experiences are vital to their enterprise. They
have created Print House Gallery, regenerated a WW2 bunker
space and pioneered Dalston Roof Park.
Who are their beneficiaries?
Young people (14-16 years old) who require alternative
education due to a variety of reasons. They may be affected by
dyslexia, behavioural issues, attention deficit disorder or they
might have poor basic skills or be more vocationally minded.
The majority of the service users are black & ethnic minorities,
groups in which crime and unemployment is often high and
educational attainment is very low.
Area of service
Regional- Dalston, London
Investment Overview
Amount
Adventure Capital Fund (AFC):
June 2008 - £198,600 loan and £132,400 grant
October 2008 - £48,540 grant
March 2011 - £15,000 loan and £10,000 grant
ACF’s total investment in Bootstrap between 2008 and
2011 was £404,540
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Date paid back
Active investment
Purpose
The initial ACF payment of £379,540 in 2008 (part loan, part
grant) was to pay creditors, cover Bootstrap’s liability for rent
deposits and overpaid rents and to help with refurbishments.
A later ACF investment of £25,000 in 2011 offered a further
investment of £25,000 (£15,000 loan and £10,000 grant) to
cover the costs of repairing the flat roof of the Print House and
the purchase of an inflatable roof cover for the roof garden.
Outcomes
For Bootstrap to become successful again, to be relieved from
a tight cash flow situation and to have refurbishment works
paid for.
Themes
☐ Becoming investment ready
☒Taking on debt finance for the first time
☐Taking on a community building
☐Helped by our investee support services
☒Running a local service
Impact Story
The Bootstrap Company was established in 1977 in Dalston, Hackney. Initially much of its work was
focussed on the provision of training and employment support for local
unemployed residents. In 2005, it underwent a restructure as a result of
accumulated debt and dropped the training activities to develop a property
as a base for training and employment programmes as well as to provide
rental income.
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In 2008 Bootstrap found itself in a very tight cashflow position resulting from its difficult history,
unforeseen capital expenditure and a previous financial arrangement with HSBC which resulted in
monthly bank charges of £2,770. Bootstrap applied to ACF and received an investment of £331,000
(£198,600 loan and £132,400 grant) to help with refurbishment works, pay creditors and provide some
working capital. As a result of ACF’s investment together with other funding, a favourable negotiation of
the HSBC facility and a restructure, Bootstrap was in a stable position and progressed well. At this point,
occupancy was at 100% and the hot-desk facility, which had 47 spaces for hire, was full and had a
waiting list. Since then, there has been further developments in the form of an impressive roof garden,
funded by £10,000 of Big Lottery money, donations of seedlings and 250 grow bags. This space is now
not only used by tenants but is also available to the local community through a membership scheme.
Bootstrap is now at the stage where they have an extensive school programme which provides a basic
curriculum for 14 –16 year olds who have either special needs or have been excluded from their
previous educational establishment.
They also manage three leased buildings from Hackney council located next to each other: The Print
House, Fitzroy House and the Colour Works. They have 2,045 new members.
Recent events include a Turkish Film Festival and Bootcamp Live, both of which received lots of
attention, especially on social media. In fact their roof top garden was listed by Time Out as the best in
London!
Sara Turnbull, Chief Executive of Boostrap Company spoke about the impact of the ACF
investment:
How did the investment from ACF make a difference to your organisation?
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The investment from ACF allowed us to reshape as an organisation- it detoxified our balance sheet and
gave us practical support to turn the business around. We were able to save an important community
asset and generate funds ourselves to help us find breathing space to make our charity work again.
How did the investment make a difference to the people your organisation serves?
Following your investment we have been able to reinvigorate our charitable work - launching Bootstrap
Campus a programme to help 16-24 year olds get into work.
What was the support like that you received from ACF following the investment?
We have had direct support from you on getting our business plan together, devising a reserves policy,
risk framework and governance procedures - you have been there every step of the way.
Was there anything specific to the structure of the investment that made the investment
attractive?
We like the way that it was part grant and part loan investment. It was also clear that you had a long term
interest and belief in our aims.
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