1. Forum 21 AGM Community Investment Paul Sander-Jackson Executive Director, WCA

2. 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

3. 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

4. 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

5. 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

6. 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

7. 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

8. 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

9. 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

10. Red Brick Building Centre

11. 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

12. Somerset Land for Food

13. 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

14. Exeter Local Food

15. 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

16. Renewable Energy schemes

17. 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

18. 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