Newry groups encouraged to consider Community Share option

Posted by
info@newrytimes.com
Tuesday, February 17th, 2015
Business, Community
Newry community groups, charities and social enterprises are being encouraged to consider community shares as a means of financing new socially minded projects. Tiziana O’Hara from Co-operative Alternatives said that in a time of public sector cuts when start-up capital and grants are increasingly hard to come by, community shares is a viable option for enterprises supporting a community need. She said help was available to any organisation wishing to learn more about launching a share offer. “There are many organisations in Newry working for the betterment of society that could benefit by the community share option. “We at Co-operative Alternatives offer free support and tailored training to any group wanting to explore this option. We can introduce you to organisations that have gone down this route, help with business plans and community engagement strategies and will help you write the share offer document – any practical advice and expert guidance that is required.” Co-operative Alternatives was commissioned by the Building Change Trust in 2013 to run its Community Shares, Ready! pilot project to increase awareness of Community Shares in Northern Ireland. Ms O’Hara, who manages the Community Shares Ready! Project, added, “Because members of the community are literally buying in to the business, they have a vested interest in the enterprise and are incredibly supportive of it. It gives many businesses a ready-made customer-base.” Community Shares are the sale of shares in enterprises that serve a community purpose. The shares are bought by members of the public who want to invest in a local enterprise that meets a community need and expect a modest return in investment. For more information about community shares go to: www.coopalternatives.coop or email Tiziana O’Hara on tiziana@coopalternatives.coop or call her on 07858317634.

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