Forum 21 AGMCommunity Investment Paul Sander-JacksonExecutive Director, WCA

Wessex Community Assets

• Small not for profit organisation• Programme of support for

communities to develop assets and enterprises

• Mainly Somerset, Dorset and Devon• Working with projects in Exeter,

Torquay, Glastonbury

What is community investment?

• Members of a community buying shares or bonds in an enterprise that serves a community purpose

• Members receive a fair return on their investment as well as sharing in the social and environmental benefits of the enterprise

• Shares make people part-owners of the organisation with voting rights

• Different from a donation

Why community investment?

• Culture shift. Not waiting for permission -

taking power and control• Reconnection of people and money:

mutual responsibility • Investors make good customers, volunteers

and active members of society• Reduced availability of grants and public

finance

Some facts and figures

• At least 84 cases of enterprises with more than £10,000 of community investment

• Total community investment £298 million• Membership of over 6 million• 41 cases in last 10 years, raising £45 million

from 63,400 members• Median amount raised is £135,000

Community share issues using a Community Benefit Society (IPS)

• Wessex have developed a model for raising share capital at low cost

• This means members of a community can invest directly in community projects and services

• It is cheap to set up and acceptable to independent financial advisors

Who’s doing it?

• Renewable energy projects

• Village shops – over 300 nationally

• Pubs

• Land and local food projects

• Workspace and community buildings

• Housing – through Community Land Trusts

How it works

• One member one vote• Maximum shareholding £20k; you decide

the minimum• Can pay modest interest on shares• People can withdraw their investment

subject to certain conditions• Members elect a board to manage the

business

WCA support for pioneer projects

• 5 community investment projects have been selected

• Active support in developing and marketing a community investment offer over next year

• Condition - dissemination and sharing the learning

Red Brick Building Centre

Red Brick Building Centre

• Multi purpose community building• Arts, enterprise and sustainable

construction• Asset transfer from SWRDA• Finance package mixing shares, loan and

grants• Community share issue - £120,000 for

first stage

Somerset Land for Food

Somerset Land for Food

• Buying land for allotments, community gardens and market gardens/CSA’s

• Communities will manage land

• Future sale to community organisations

• Revolving fund

• Seeking £100,000 through community share issue

Exeter Local Food

Exeter Local Food

• Grew out of Transition Exeter Local Food Group

• Opening “Real Food Store” in central Exeter

• Local food shop and cafe

• Raised £135,000 target for launch through community share issue

Renewable Energy schemes

Renewable Energy schemes

• Mixing capital grant and community shares

• Torrs New Mill and SettleHydro - £100,000 each from community shares

• West Oxford Community Renweables – roof rental scheme supporting education and development work

Useful Contacts

Paul Sander-Jackson

• paul.sander-jackson @wessexca.co.uk

• 07795 528801

Sean Wheeldon

• sean.wheeldon@wessexca.co.uk

• 07792 348856

• http://www.communityshares.org.uk/• http://www.wessexca.co.uk