Funding news

New support service launched - 12 October 2012

The Department for Communities and Local Government have funded a Community Shares Unit to help communities take ownership of their resources.

The Community Shares Unit, which will have a budget of £590,000 over three years, will be run by Co-operatives UK, a trade body that promotes cooperative enterprises, with support from Locality, the network for community-led organisations.

The unit will support the use of community shares and bonds, which allow large numbers of people to invest small amounts of capital in local projects without the costly regulation involved in a standard share issue.

Community share issues have increasingly been used to take over ownership of local resources, such as shops, pubs and sports clubs, as well as to set up green energy projects.

According to previously released statements, the unit will aim to support 500 social ventures and back 200 share issues. It will act as a central resource for social investment intermediaries, government and other stakeholders. It will also collect data and publish best practice.

For full details see the Community Shares Unit website.

Source: http://www.thirdsector.co.uk/bulletin/third_sector_daily_bulletin/article/115375