The rapid growth in the number of community-owned businesses was underlined today this week when the Co-operative Group revealed it had supported 1,000 grassroots mutual organisations since it launched its Enterprise Hub three years ago.
Since 2009, the Co-operative Enterprise Hub service has delivered almost 3,500 days of free specialist support, providing the tools, skills, knowledge and confidence to drive community-led regeneration UK-wide.
From pubs to post offices and retail to renewables, the country is witnessing a resurgence in enterprises set up, run and controlled for the benefit of the community, with latest figures showing a near ten per cent year-on-year rise in such enterprises using the co-operative model of business ownership.
In a move to maintain the momentum of community-led solutions to the running of businesses and services, the Co-operative has pledged a further £5m over the next three years (2013-15) to developing the service.
Michael Fairclough, the Co-operative's head of community and co-operative investment, said: "Communities across the country, driven by needs other than to maximise profit, are turning to co-operatively-owned solutions for the provision of businesses and services.
"These enterprises are operated by a general public increasingly concerned for accountability, transparency and sustainability and, collectively they are making a significant contribution to the rebalancing of the UK economy."
In addition to its core service of specialist advice and training to support the creation and growth of member-owned enterprises, the Co-operative Enterprise Hub has extended its offer to include dedicated support for community-owned renewables and a unique scheme to underwrite community share issues.
Further information about setting up a community-owned enterprise is available at www.co-operative.coop/enterprisehub
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