Sunday, August 30, 2009

Community Shares Project

Second Round of Community Shares Project opens
Community-owned enterprises can apply to take part in a
Government-funded research project which is looking at new ways for
social enterprises to attract more funding.

The research is examining the potential of community shares and bonds
as a way to attract extra investment. This includes inviting ten
projects to test the idea, looking at barriers that could restrict
their growth and how they can be overcome. Their experiences will be
used to benefit future learning.

Five projects have already been chosen to take part and in this second
round, another five will be chosen.

Any project for example, a small village shop, a large scale housing
development or a community recycling project is eligible to apply
providing they are community-owned and work for the benefit of the
community. Community-owned enterprises will receive a package of
funding and consultancy and must show that they:

* Intend to raise finance through community investment ie. “The
sale, or offer for sale, of more than £10,000 of shares or bonds to
communities of at least twenty people, to finance ventures serving a
community purpose.”
* Will issue non-transferable securities.
* Have a committed group of project champions and an established
steering group, unincorporated body, partnership, association, or
corporate body.
* Have community support for their venture.

More information:
http://www.communityshares.org.uk/news/round-two-applications-now-open