News

September 1, 2016

Community Ownership Awards

We are proud to be sponsoring the 2016 Community Ownership Awards.

If you have a community-run business in your region that you feel goes above and beyond to support the community then please nominate them here: communityownershipawards.com. Nominations close on Friday 14 October at 5pm. The winners will be announced at a special awards ceremony in London on Monday 28 November.

Maybush_opening The Community Ownership Awards are run by the Plunkett Foundation, a national charity that helps communities to set up and run community co-operatives. To date, 343 community shops and 43 pubs have been saved as community co-ops, with an increasing number of other businesses also choosing the model, from cafes and local hubs to farms and broadband projects.

Co-operative & Community Finance has worked closely with the Plunkett Foundation for many years. Investment Manager Ian Rothwell said: “We were one of the partners in the Village Core programme that was responsible for the start up of hundreds of community-owned shops and more recently we have been working with Plunkett in the More Than A Pub programme. We are delighted to sponsor this awards scheme that celebrates community ownership.”

The picture shows the Maybush in Great Oakley in Essex on the day it re-opened under community ownership earlier this year. We provided a loan to supplement the impressive £83,000 raised by the community share issue.

July 5, 2016

Free tour of co-operative pubs in Northern England

Alpha Communication Featured, News

Plunkett Foundation, our lead partner in the £3.62m programme for community pubs announced in March, is inviting community groups in Nothern England to a free, two-day tour of local pubs that have been saved successfully as co-operatives.

Plunkett Foundation is offering places to groups at the early stages of considering community ownership as an option for saving their local pub. The two-day tour will take in three thriving examples of co-operative pubs – The George and Dragon in Hudswell, The Foresters Arms in Carlton (both North Yorkshire) and The Dog Inn in Belthorn, Lancashire.

The tour offers people a unique opportunity to hear first-hand from communities who have already saved their pub as a co-operative, as well as the chance to speak one-to-one with the advisers responsible for supporting a large number of communities to save their pub – and other assets and services – using community ownership. It will also be a chance to network with others in a similar situation, to share experiences and support each other.

Agenda:

Day One: 21 July

10:00 Arrive, and tour of the George & Dragon
11:30 Expert workshop: Social Impact
12:30 Lunch
Travel to hotel (Scotch Corner)
17:00 Travel to Foresters Arms
18:00 Arrive at Foresters Arms; networking
19:30 Dinner
Return to hotel
Day Two: 22 July

09:00 Meet at hotel to travel to The Dog Inn
11:00 Welcome talk and short tour of The Dog Inn
12:00 Lunch
13:00 Expert workshop: Finance & Community Shares
14:00 Return to hotel. Close.
Included in the tour is:

One night’s accomodation at TravelLodge, Scotch Corner, Skeeby
All travel between the hotel and the three co-operative pubs
Lunch on Day 1 at the George & Dragon
Dinner on Day 1 at the Foresters Arms
Lunch on Day 2 at The Dog Inn
Two expert workshops: Social Impact and Finance & Community Shares

*Please note that soft drinks and alcoholic drinks are not included.

Places are limited and will be allocated on a first come, first served basis. This tour is aimed at community groups in the early stages of trying to save their pub. It is kindly funded by the More Than A Pub programme with support from the Esmee Fairbairn Foundation.
Booking must be made in advance, and we cannot accommodate anyone who hasn’t already reserved a place due to the nature of the tour. To book, or to find out more, please email our Events Manager Sarah Horth on sarah.horth@plunkett.co.uk or call 01993 810730.

March 11, 2016

Message to advisers to co-ops and community businesses

Alpha Communication Featured, News

I am writing to introduce myself as the New Business Development Manager at Co-operative & Community Finance. You may be aware that there have been a couple of changes to the team this year and I have been recruited to take over Ian Rothwell’s role as he moves into the Investment Manager position. This follows Ian Taylor’s pending retirement after over 25 years at ICOF and CCF.

My role is to help raise the profile of the organisation, build partnerships and develop finance packages. I have worked as a social and community enterprise adviser for over 10 years prior to taking up this position and bring experience of working with a range of charities and community and co-operative businesses.

As a development worker or adviser in the co-operative/community business sectors I am keen to make contact with you. Firstly to let you know I’m here and secondly to make myself available if you would like to discuss any opportunities to work together in future. CCF has always worked closely with development workers and advisers in the sector and I am eager to maintain these links and promote co-operation. Perhaps you have clients that would benefit from loan finance or need interim finance to support a community share issue or perhaps you have funds that require management through our FCA authorised back office facilities. Perhaps you are considering a bidding opportunity that could benefit from a lending partner? Whatever your circumstances it would be great to talk to you.

CCF has a range of finance options available with loans from£10k – £150k for organisations that are democratically controlled by their members; across a range of community and co-operative sectors. We pride ourselves on quick investment decisions, low loss rates and flexible finance arrangements for your clients.

If you wish to contact me to find out more about my role or a chat please email me at: tim@coopfinance.coop or call me on 07342 674673.

March 10, 2016

£3.62m programme for community-owned pubs

Alpha Communication Featured, News

A major new support and finance programme to help people take control of their local pub for the benefit of the community has been announced by Community Pubs Minister Marcus Jones MP.

More than a Pub: The Community Pub Business Support Programme is a £3.62 million, two-year programme that will see a comprehensive package of business development support, advice and loan and grant funding being delivered to community groups in England to help them establish community-owned pubs that can clearly demonstrate how they will bring significant social, economic and environmental benefits to their communities. Jointly funded by the Department for Communities and Local Government and Power to Change, the programme will be led by Plunkett Foundation and delivered in collaboration with leading organisations within the sector including Co-operative & Community Finance.

The programme aims to support 80 community-owned pubs to open over two years and will offer a flexible package of support including access to an advice line, events, workshops, peer-to-peer study visits, and business development advice. It will also offer flexible bursary awards to fund very early stage activity, such as community consultation work, and a grant and loan package.
Forty communities have already successfully taken ownership of their local pub under community ownership, and a further 1,250 have been listed as ‘assets of community value’ under community rights, highlighting the important role that pubs play in local communities.

Co-operative & Community Finance has helped several communities save their local pubs by providing long and short-term loan finance and by underwriting share issues (via the Community Shares Fund).

One example is The Fox and Hounds in Denmead on the outskirts of Portsmouth which reopened under community ownership In December 2014, after it had been derelict for over two years. The local community raised nearly £500,000 to buy and refurbish the 150 year building. The community share issue attracted £326,000 from 190 investors and the remainder came from loans from Co-operative & Community Finance and The Co-operative Loan Fund and a grant from Solent Local Enterprise Partnership.

Business Development Manager Tim Coomer said: “We are delighted by the launch of this long-awaited support programme. It should make a big difference to many local communities. We have worked with Plunkett on a similar programme to support community-owned shops and so we are confident that this one for pubs will be popular and successful.”
Peter Couchman, Chief Executive of Plunkett Foundation, said: “This programme will significantly increase the number of community-owned pubs open and trading, bringing far-reaching benefits to local people. For many communities, pubs are not just a place to drink; they are central to peoples’ sense of place and identity, they provide an important place for people to meet and help to build community cohesion.”

To find out more about the programme please call the programme advice line on 01993 810730 or visit www.plunkett.co.uk.

December 11, 2015

The Dog Inn

Alpha Communication News

Sometimes just the offer of finance can make all the difference to a community trying to raise funds.

Last year a commitment by the Community Shares Fund to invest £50,000 if required gave the people of Belthorn in Lancashire the confidence to proceed with the purchase of The Dog Inn before the community share issue had reached its target.

As it happens the investment target was achieved soon after the purchase was agreed so the money from the Community Shares Fund was not drawn down. It remains in the fund to support other community share issues.

The Dog Inn, which is said to be the highest pub in Lancashire, and certainly the first under community ownership, reopened in November 2015, exactly a year after it closed.

You can read more about the Dog Inn and other ventures supported by the Community Shares Fund on www.communitysharesfund.coop/who-we’ve-helped

The Community Shares Fund is one of the surprising secrets of co-operative fund raising. Everyone who has used it thinks it’s wonderful and yet many communities seeking investment seem to be unaware of it. Let’s spread the word that there is significant financial support available specifically for communities seeking to raise investment through community share issues.

September 24, 2015

Before you apply

Alpha Communication News

Before you start any application, make sure you have everything you might need at your fingertips; documents, contact details, photographs, promotional material, facts and figures. Preparation will make the process quicker and easier. Be sure to check out the organisation to which you are applying – check criteria, research what interests them, and follow any instructions closely. Make a note of the date on which you apply, and be sure to make follow up enquiries.

If you’re seeking investment or applying for a loan, here are some things you might find useful to consider:

Seek advice

Co-operative and social enterprise networks and advice organisations can help you formulate a business plan, offer strategic advice and assist with applications. There are over 30 of these organisations in the UK details of which can be found here. For some specialist advice (for housing co-ops, local food, community shops, etc) click here.

Ensure your business plan is concise

Your business plan should be clear and concise. It’s good to include an executive summary.

Is this finance appropriate?

Make sure the finance you are seeking is appropriate to your needs and show through projections that you can service the debt. Do not borrow for a term that exceeds the life of the asset you wish to purchase.

Your rules should reflect governance intentions

If you are a co-operative or community-owned business you need to ensure that your rules allow for your stated governance intentions (eg how decisions are made and what happens to any profits). Test them against the seven ICA principles. If you are a member of Co-operatives UK, you will have access to a specialist legal team which provides advice on all aspects of governance.

Understand your market and check out the competition

Be sure of your market and the competition. Define the gap in the market that you will fill, and how you’ll deal with the competition’s reaction to your presence. List your USPs (unique selling points). If you present a SWOT (strengths, weaknesses, opportunities, threats) analysis, ensure you describe how you will exploit your strengths, mitigate your weaknesses, seize opportunities and lessen threats.

Convey enthusiasm, belief and passion

If you want potential investors and financiers to believe in your project (which you do), then you really need to believe in your project. Think about how you can convey passion in every part of your application. Have your members invested their own time and money in the venture? What are your dreams for the project/business/organisation? Why do you want to do this? What values drive the project forward?

September 10, 2015

Working with Ecology Building Society

Alpha Communication Featured, News

Ethical finance groups work together

Two long-established ethical finance organisations have agreed new arrangements that will make more money available to democratic enterprises in disadvantaged communities.

Ecology Building Society has lent £500,000 to Co-operative & Community Finance, and under the terms of the government Community Investment Tax Relief (CITR) scheme this money will be used to stimulate enterprise in deprived parts of the UK.

Co-operative & Community Finance, established in 1973, is the oldest Community Development Finance Institution in the UK and one of the few that is authorised and regulated by the Financial Conduct Authority in the conduct of investment business. It normally has £4m to lend to member-owned enterprises but following a record year of lending in 2014 more funds were needed to meet the increasing demand.

Ecology Building Society was set up in 1981 with the aim of using members’ savings to provide mortgages and loans to properties and projects that have a positive impact on the environment and communities. It has over 9,000 members with a total of £138m savings.

The two organisations had worked together before in the joint funding of housing co-operatives and community-owned shops, so a closer partnership which benefited them both and helped them deliver their objectives made sense.

Ian Rothwell, Development Manager at Co-operative & Community Finance, said: “When we realised that we may need additional funds to meet the demand for our ethical finance it made sense to approach Ecology Building Society. We share similar values and are keen to invest in the same projects and enterprises.”

Paul Ellis, Chief Executive of Ecology Building Society, said: “We are pleased to be strengthening our links with Co-operative & Community Finance who have an excellent track record in working with start-ups in the community sector. We strongly believe in finance organisations pooling their respective skill-sets for the common good, enabling us to amplify our impact. This collaborative approach is something that our members welcome.”

In a further display of the growing closeness between the two ethical finance organisations, Ian Rothwell was invited to address Ecology Building Society’s well attended AGM in Liverpool.

The CITR scheme, launched in 2002 and revised in 2012, was devised to stimulate the flow of private finance to support enterprise in the UK’s deprived communities. This rare case of two member-owned enterprises using the scheme for mutual benefit is a pragmatic example of the co-operative value of self-help.

August 25, 2015

Creating a co-operative pound

Alpha Communication News

How should co-operatives finance growth? It is one of the biggest questions facing co-operative businesses today. Not all co-operatives want to grow. But when they do – particularly when a co-operative wants to expand quickly – there is challenge. Congress 2015 is a step towards the UK co-operative sector providing its own answers to the finance debate. We’ve joined the ‘Co-operation: Now!’ finance debate with our idea for creating a co-operative pound:

Towns and cities throughout the world are developing local currencies to keep spending within their local area. Often supported by local authorities, goods and services can be purchased with a local currency and workers be paid in that local currency. The Austrian village of Langenegg issues its own Talente currency and Mayor Georg Moosbrugger sums it up when he says:

Wherever the money rolls, there it has an effect. Local money doesn’t roll very far and so it can get to work in my area.

Hundreds of local currency schemes are in operation throughout Africa, Asia, Australasia, Europe and North and South America. In the UK we have the Bristol Pound, the Brixton Pound, Calderdale Green Currency, the Eko issued in the Findhorn Ecovillage, the Lewes Pound, the Stroud Pound and the Totnes pound. Many other towns and cities are planning a local currency. After 2 years the Bristol£ was worth over half a million to the local economy and recent research has shown that the Bristol£ has a beneficial effect on both social and community bonds by shaping interactions, feelings of trust and how users feel about the bonds they hold with their co-users.

The Co-operative movement’s adherence to its 7 principles continues to strengthen the movement. Principle 6 – Co-operation among Co-operatives – could be effectively achieved with a Co-operative pound (Coop£) that, rather than for trading within a locality, would be used for trading with and between co-ops. The Coop£ would commit individuals and co-ops to spend and trade with other coops keeping finance within the movement.

Coop£s will be purchased for sterling at a rate of one Coop£1 to £1 sterling. There would need to be an electronic means of exchanging funds and possibly paper money. They would only be available to spend with co-ops.

Co-operatives will have Coop£ business accounts and be able to accept and pay with the Coop£ as Essential Trading Coop do with the Bristol£. Individuals could demonstrate support by having personal Coop£ accounts to pay for goods and services from co-ops. A few details will need sorting out such as finding a bank to operate the Coop£ accounts so I suppose the pitch to congress would be for the feasibility of a Coop£ to be explored.

Read more ideas – and pitch your own – at www.uk.coop/congress/thefinancedebate >>>>
Co-operative & Community Finance will be at Co-operative Congress in Birmingham on Saturday 27 June 2015. Visit us at Stand 2.

August 25, 2015

Funding boost for ‘real farming’

Alpha Communication Featured, News

A new package of funding and support for ‘real farming’ will be launched on 13 July.

The Just Growth programme aims to nurture the development of community enterprises that are farming and producing food in an environmentally and socially responsible way. Co-operative & Community Finance is working in partnership with the Real Farming Trust and the Esmée Fairbairn Foundation to deliver the programme in England, Scotland and Wales.

Over the next 18 months Just Growth plans to help up to 14 community-based farming projects to either start up, expand or develop new activities that make them more resilient and sustainable. Up to eight of these projects will receive a funding package made up of one third loan finance from Co-operative & Community Finance and one third grant funding from the Esmée Fairbairn Foundation. The remaining third has to be raised from the local community either through crowdfunding or community shares. The minimum loan amount is £15,000 and this must be matched or exceeded by the amount raised through community finance. The grant will match the loan but will be capped at £20,000. The eight projects receiving funding will also get three days of specialist advice. The other projects will receive one and a half days of expert support to help them develop their business plans so they are more ready for future investment.

Clare Horrell has been appointed to manage Just Growth. She has over seven years’ experience of working with community-supported food and agriculture projects for Sustain: the alliance for better food and farming. She said: “We believe that agriculture needs to be just and fair for people and the environment. Just Growth aims to nurture a just agricultural model through encouraging and supporting small scale farming. We are particularly keen to see more community ownership in food and farming and we will be looking for organisations with strong co-operative principles embedded in their structure.”

The three-pronged approach to funding the projects using an equal mix of loan, grant and community finance has been used very successfully in the past by Co-operative & Community Finance and the Esmée Fairbairn Foundation to support community-owned shops.

Ian Rothwell of Co-operative & Community Finance said: “We are very excited by the Just Growth programme. We are using a funding model that has been tried and tested with great success, so we are as confident as we can be that it will work with community-supported agriculture.”

Projects interested in applying to the Just Growth programme should visit feanetwork.org/our-projects/just-growth for more information and an application form.

Just Growth is a project of the Funding Enlightened Agriculture network which itself is a project of the Real Farming Trust. The mission of the Real Farming Trust is to enable the growth of farming and food production practices that are economically sound and democratic, socially just, humane to animals, and promote the long-term protection of natural resources.

July 3, 2015

Our members are… the owners!

Alpha Communication News

Today (Friday 3 July 2015) is Employee Ownership Day; a unique opportunity to highlight and celebrate the significant benefits employee ownership delivers to the UK economy. Whether you are employee owned, interested in what employee ownership might do for your business, work with employee-owned businesses, or have a general interest in employee ownership, now is the time to get involved. Follow The Employee Ownership Associaton on Twitter @employeeowned, and join the conversation by using the hashtags, #EODay and #EmployeeOwnership. For more information about employee ownership visit www.employeeownership.co.uk >>>>

In celebration of Employee Ownership day, we’re highlighting some Co-operative & Community Finance members who’ve worked hard to take ownership of their businesses and communities. From manufacturing to care, product packaging to play equipment, school uniforms to journalism – these organisations display the very best of what employee ownership can accomplish.

Sutcliffe Play

Sutcliffe Play, based in West Yorkshire, is well known for its design-led, child-centred, innovative, outdoor play equipment. It has over 100 years experience and supplies its products worldwide. A loan from us helped the employees of this leading manufacturing and design company to buy the business in 2010. Since then, it has been named one of Yorkshire’s fastest growing companies. In 2011, Managing Director Viv Jebson was invited to share the company’s experience of becoming a employee-owned business at a parliamentary meeting, forming the basis of a government report about the benefits of employee ownership.

Clansman Dynamics

Clansman Dynamics is one of Scotland’s leading design and technology companies. It designs and builds robotic handling equipment which is used in forges and foundries in 35 different countries. It is one of the top three companies in the world working in this highly specialised field. It was set up in 1994 and was sold to the employees in 2009 with the full backing of the original owner, who wanted to ensure the ongoing success of the enterprise by transferring ownership to the employees who had helped to build the business.

Visit www.clansmandynamics.com >>>>

Highland Home Carers

Highland Home Carers – the second largest employee-owned business in Scotland – is one of the UK’s most successful providers of home care. They provide care and support for elderly, disabled and vulnerable people to allow them to remain in their own homes and retain their independence. In 2013, loans from Co-operative & Community Finance, The Co-operative Loan Fund and Big Issue Invest gave Highland Home Carers the capacity and incentive to win more contracts across the Scottish Highlands.

Visit www.highland-home-carers.co.uk for more info >>>>

PrimePac Solutions

PrimePac Solutions is a workers co-operative and factory in Wales, which produces bespoke, custom packaging solutions. The co-op was formed through an employee buy-out in the summer of 2005; following the closure of the Budelpack Rhymney factory. The facility hosts 27,000 square feet of factory space, and is home to 22 member-employees.

Ecosulis

Ecosulis is the UK’s most experienced ecological consultancy and contractor. Its services include ecological consultancy, countryside management, environmental impact assessment, research and development; implementing practical solutions that benefit both people and wildlife. With a Head Office in Bath and regional offices in Exeter, Monmouth, London and Chester, Ecosulis is able to provide ecological and contracting services throughout the UK. The business has been trading since 1990, and became employee-owned in 2007.

Visit www.ecosulis.co.uk for more info >>>>

School Trends

School uniform supplier School Trends is made up of 125 employees, all of whom own the business. After selling their building to a commercial landlord, they bought the property back in 2013 at a lower price than what it previously sold for. The profits were used to fund the employee ownership process.

Visit www.schooltrends.co.uk for more info >>>>

West Highland Free Press

In 2009, West Highland Free Press became the UK’s first employee-owned newspaper. Loans and business support from Co-operative & Community Finance and Baxi Partnership helped the 10 employees ensure that the paper remained independent and rooted in the community.