Will you be at Co-operatives Congress? Got questions about finance for co-ops and community owned businesses? Come and talk to us!

It’s that time of year again, when co-operators gather for Co-operatives UK Flagship annual event, Congress. Taking place this year at The Eastside Rooms in Birmingham on Friday 14 June and Saturday 15 June, there is a packed programme of main-room sessions and fringe events, kicking off with a keynote on Climate Action from Ecotricity founder Dale Vince OBE.

We’re delighted to announce that we are once again sponsoring the Stir To Action Festival this summer.

Taking place on Wednesday 10th and Thursday 11th July at the Arts Mansion, Ashton Court Estate, Bristol, the ABCs Festival is a two-day interactive event bringing together hundreds of people who are transforming their local economy to participate in almost 30 practical workshops, inspirational panels, and ideas surgeries.

The programme has been announced and it covers everything from community shares to climate action, AI and sociocracy.

Finance for co-ops and community businesses will be discussed across multiple sessions.

On Wednesday morning. Jen Bird from Signalise  (a platform co-operative providing interpreting services for people who need to book BSL interpreters and other communication professionals who we featured recently for World Health Day ) will speak about Community Shares with Matt Otridge of the Music Venue Trust and Emma Moore of Zion Bristol

Later that day, our own Business Development Manager Tim Coomer will host the ‘We’re good for it’:  social investment stories session.

Then on Thursday, John Dawson from Co-operatives UK will talk about creating a community shares offer. A panel comprising Esther Foreman of the Social Change Agency, Paul Pizzala of Ethex and Blue O’Connor from the School for Social Entrepreneurs will discuss ‘An Introduction to Finance’ and then Bonnie Chiu of the Pathway Fund, Jonathan Levy from the Joseph Rowntree Foundation and the Good Ancestor Movement’s Kiki Mager will talk about Funding The Future.

It won’t all be talks – all festival participants will be treated to a free lunch from Coexist Community Kitchen and at night, there will be street food options from Wood Chop Pizza and family owned Mexican street food business The Little Taquero , as well as festival style music and entertainment.

The Stir to Action Festival has been a regular part of the calendar for those of us working to build a better future – and this year, with the launch of their ABCs behind them, is set to be the best yet.

Will we see you there? Book your place here.

The Better Community Business Network Grant Initiative is now open and accepting applications. Have you heard of this fund before?

Awarding just 12 grants of up to £3000 per year, competition may be stiff but the funds awarded can be for a range of purposes so they might be a good fit for a specific project. Previous awards have included community art installation workshops, a dishwasher for a community space, mentorship around employability for Muslim women, coffee tables for a social space to combat isolation, and more.

Who can apply?

Registered non-profit organisations, charities, and community groups (including local branches of national charities) that work for the betterment of local communities through charitable initiatives, who have submitted accounts.

An evaluation report will be required

Key dates:

• Applications open: 6 May  2024
• Application submission deadline: 16 June 2024
• Shortlisted applicants notified: 22 July 2024
• Awards announced: 9 August 2024

Find out if you are eligible by completing the grant eligibility quiz before downloading the application.

Power to Change  launched their new report, Financing The Future Economy, on 16th May.

Drawing on lessons learned since 2015, the report provides an overview of the finance and funding landscape for community business, outlining the challenges in accessing the right type of finance at the right time. Situating access to finance within the wider policy context, it also provides recommendations for the next Government to work alongside funders and social investors to provide the type and level of investment required.

Positioning community business as being ‘untapped potential’, the report shares that community businesses across England have a combined income of just under £1bn, and tend to operate in a hybrid fashion, with grants and earned/commercial income both playing a part.

The key facts:

• 48% of community businesses operate in the 30% most disadvantaged areas in England.
• 86% of paid staff live locally.
• 56p of every £1 stays in the local economy.

Tim Davies-Pugh, Chief Executive Officer of Power to Change, said:

“This research shows the complexities facing community businesses in financing their ambitions. They access support through a mosaic of different sources and overcome multiple hurdles that do not exist for the traditional business community.  It cannot be right that Hastings Commons – a community business leading the regeneration of its local town centre – has had to secure funding from nearly 100 separate grant, loan, and social investment awards to bring much-loved buildings back to life.

We look forward, through our work on Financing the Future Economy, to collaborating with partners to turn these recommendations into reality so that community business has access to the right finance at the right time. Together we will harness this untapped potential and ensure community businesses play an even bigger role in our social and economic life.”

Want to know more about the types of finance available, the challenges currently being faced, or what P2C are recommending for the future? Read the full report here.

The Future Economy Alliance (FEA), which we are proud to support, is working to build an economy where society profits.

As we approach a General Election, they want to build a movement that can’t be ignored, to make sure our next government takes a new political approach to business: doing what’s best for people and planet, not just for profits.

Business is a huge driver for change. It’s already making an enormous impact, but not the one we want – that can change. Co-ops and community businesses have long centred people and planet alongside necessary and proportionate profit. We agree with the FEA that the challenges of today – post Brexit, post Covid, the ongoing cost of living crisis – need a new, joined up approach. Business has to work for everybody, sharing profits and power with communities, actively tackling social and environmental issues.

Ahead of the next General Election, there is a golden opportunity to build the case for business with a purpose beyond profit. Economic reform, a partnership state, climate action and local power will all be part of building a a stronger, fairer, greener economic climate for the UK.

Made up of business leaders, activists, entrepreneurs, investors, fundraisers and third sector experts, and representing social enterprises, co-operatives, mutuals, employee-owned businesses, social investors, and community-led organisations, the FEA is united in the vision of an economy where our entire society profits.

Do you want to be part of this change? Find out how to get involved here and mark your diary for the 18th June. A Day of Action will champion the value of mission-led businesses and show parliamentarians why and how these businesses hold the key to fixing our economy.

Find out more here.

Are you part of a co-op or community owned business in England looking to green your business?

Funding matched to community shares is now available to help you invest in energy efficiency measures which will reduce your energy bills and carbon footprint. This could include specific items such as heat pumps or solar panels, double glazing or LED lighting, as well as supporting the purchase of energy-efficient equipment and transport.

Co-operatives UK and Crowdfunder have launched the £250,000 Energy Efficiency Sharematch fund to support community businesses as they invest in greener ways of operating. Provided by Access – The Foundation for Social Investment Sharematch uses funds from the Dormant Assets Scheme, which redirects money from forgotten accounts to good causes.

Find out more here and find the full eligibility criteria here. Ready to go? Fill in the Expression of Interest form here.

Not considering a crowdfunder? We might be able to help through The Energy Resilience Fund – a blended loan and grant finance scheme helping co-operatives, community businesses and social enterprises to retrofit energy generating/saving technology on community owned or managed buildings. Find out more right here.

This week, 13th to 19th May, is Mental Health Awareness Week

More and more conversations are being had about Mental Health, in homes, organisations and across the nation. A broader understanding of what’s needed for good mental health is – thankfully – becoming more widespread. You may have heard that some of the key factors for good mental health are Autonomy and Agency.

Autonomy – knowing we have the right to make choices about our lives

Agency – having the capacity to act on those choices, and take our life in the direction we want

On the flip side, it’s understood that a lack of these things can contribute to poor mental health.

Work is a big part of life for many of us, and the quality of our work is critical. In 2022, Co-operatives UK published a report called Offering Hope. Updated in 2023, this report, ‘finds that mental health, job security, career prospects, a lack of control over working lives and climate change are major causes of stress in young people.’. It also finds that co-operatives, due to the very nature of their structures, and the values they are based on, can support improved mental health outcomes. In the report, Steph Rutherford of Village Greens is quoted as saying, “Every day I go into work I come out feeling better, which I know is incredibly rare; knowing you’ve got a support network around you.”

This Mental Health Week we are celebrating the good work and good working environments created by co-operatives and community owned businesses – those we work with, and those we don’t. Co-operatives offer hope, and a better way, and we are proud to be part of supporting that change.