Community share issues given a boost by Co-op
Your support helps us to tell the story
From reproductive rights to climate change to Big Tech, The Independent is on the ground when the story is developing. Whether it's investigating the financials of Elon Musk's pro-Trump PAC or producing our latest documentary, 'The A Word', which shines a light on the American women fighting for reproductive rights, we know how important it is to parse out the facts from the messaging.
At such a critical moment in US history, we need reporters on the ground. Your donation allows us to keep sending journalists to speak to both sides of the story.
The Independent is trusted by Americans across the entire political spectrum. And unlike many other quality news outlets, we choose not to lock Americans out of our reporting and analysis with paywalls. We believe quality journalism should be available to everyone, paid for by those who can afford it.
Your support makes all the difference.The Co-operative this week launched a new scheme to help community projects that are struggling to get off the ground because of problems raising finance.
The scheme will underwrite community share issues for such projects as pubs to post offices.
There has been a boom in such initiatives as local people look to repair the damage of lost amenities by setting up their own.
It's a growing movement. The latest figures show a near 10 per cent, year-on-year growth in enterprises set up, run and controlled for the benefit of the community by local people.
To help communities gain investor confidence in their projects, the Co-operative Enterprise Hub has set up a revolving fund of £500,000 that will underwrite a community share issue by up to £50,000.
The hope is that the move will reassure investors, explained Ian Rothwell, development manager for Co-operative and Community Finance.
"Our support could mean that the share issue will reach its target without needing our investment," he said.
"Our approach also ensures that community enterprises have access to providers of specialist support and advice on planning and community participation – steps critical to the success of a community share issue," Mr Rothwell added.
For more information about the support available for community share issues and full details of how the new underwriting scheme works, go to www.communitysharesfund.coop.
Join our commenting forum
Join thought-provoking conversations, follow other Independent readers and see their replies
Comments