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The Community Shares Booster Programme is a funding scheme to support community share offers. It will invest equity up to £100,000 to match community shares societies that can demonstrate higher than average levels of community impact, innovation and engagement.
The programme will also provide development grants of up to £10,000 to help societies get investment ready and meet standards of good practice. Match funding will be in the form of equity held on equal terms with other community shareholders.
The programme is aimed at new and existing community businesses; it is not suitable for newly formed community groups that are in the early stages of a community business proposal.
Power to Change has provided £3 million funding for the Booster Programme over a five-year period from 2017-22.
The programme is expected to match fund around 60 share offers in the first three years of the programme and then provide active investor support to societies on a continuing basis. The programme is run by the Community Share Unit, a joint initiative between Co-operatives UK and Locality.
The Community Shares Unit was established in 2012, since then there have been over 350 community share offers in the UK, raising more than £120 million in share capital form, over 100,000 people. Community shares are defined as non-transferable, withdrawable shares in an asset locked society that has at least 20 member-stakeholders and £10,000 in share capital.
To find out more about this programme, please visit the Community Shares Booster Programme website using the link provided on the right hand side.