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T A TIME WHEN COMPANIES SPEND MILLIONS OF POUNDS CREATING AND PROMOTING HERITAGE VALUES FOR BRANDS WHICH DATE BACK BARELY A FEW DECADES ) AM IN THE PRIVILEGED POSITION OF OVERSEEING ONE OF THE OLDEST AND MOST TRUSTED BRANDS IN THE 5+ n THE #O OP OR AS OUR NEW BRAND IDENTITY POSITIONS IT @4HE #O OPERATIVE

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4HE #O OPERATIVE SECTOR IN THE 5+ HAS A RICH HISTORY WHICH CAN BE TRACED BACK TO THE 2OCHDALE 0IONEERS WHO ESTABLISHED THE FIRST SUCCESSFUL CO OPERATIVE SOCIETY IN THE WORLD BACK IN (OWEVER THE #O OP AS IT IS AFFECTIONATELY KNOWN IS NOT ONE ORGANISATION BUT MADE UP OF MORE THAN INDEPENDENT RETAIL SOCIETIES THROUGHOUT THE COUNTRY %ACH SOCIETY IS AUTONOMOUS MEMBER OWNED AND OPERATES ACROSS NUMEROUS SECTORS ALL TRADING UNDER THE AUSPICES OF THE #O OP BUT WITH A PLETHORA OF DIFFERENT VISUAL IDENTITIES 4HE SIZE OF THE TOTAL OPERATION IS IMMENSE BECAUSE IN ADDITION TO FOOD AND NON FOOD RETAIL THE #O OP EMBRACES TRAVEL PHARMACY AND FUNERALS AS WELL AS FINANCIAL SERVICES IN THE FORM OF THE #O OPERATIVE "ANK AND #O OPERATIVE INSURANCE #)3 4HE LARGEST SINGLE SOCIETY WHICH IS BASED IN -ANCHESTER IS THE #O OPERATIVE 'ROUP WHICH IS RESPONSIBLE FOR TWO THIRDS OF THE TOTAL TURNOVER OF THE WHOLE SECTOR )NDEED IF IT WERE LISTED ON THE 3TOCK %XCHANGE IT WOULD BE COMFORTABLY WITHIN THE &43%

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)N 3EPTEMBER THE #O OPERATIVE 'ROUP WHICH OPERATES MORE THAN OUTLETS THROUGHOUT THE 5+ LAUNCHED A NEW MEMBERSHIP SCHEME )N THE PAST ONE OF THE MAJOR DIFFERENCES BETWEEN THE #O OP AND OTHER ORGANISATIONS WAS THAT SHOPPERS COULD BECOME MEMBERS AND SHARE IN THE PROFITS )N RECENT YEARS A REWARD CARD SIMILAR TO OTHER RETAILERS REPLACED THIS SHARE OF PROFIT OR DIVIDEND BUT NOW WE HAVE RE INTRODUCED IT AS INTEGRAL PART OF OUR NEW MEMBERSHIP SCHEME !ND FOR THE FIRST TIME MEMBERS WILL RECEIVE AN ANNUAL SHARE OF THE PROFITS BASED ON THEIR TRADING WITH THE #O OPERATIVE 'ROUP S ENTIRE FAMILY OF BUSINESSES WHICH INCLUDES CONVENIENCE STORES FUNERAL HOMES

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)N THE FIRST FEW WEEKS SINCE THE LAUNCH THE 'ROUP HAS RECEIVED NO FEWER THAN NEW MEMBERSHIP APPLICATIONS

BY POST TELEPHONE AND THE WEBSITE WITH MORE THAN PER CENT OF APPLICATIONS COMING VIA THE )NTERNET )N ADDITION NEARLY PERCENT OF ALL APPLICANTS HAVE CHOSEN TO DONATE PART OF THEIR SHARE IN THE PROFITS TO THE #OMMUNITY $IVIDEND 3CHEME AND THAT NUMBER RISES TO PERCENT FOR WEB APPLICATIONS -EMBERS WILL ALSO BE ENCOURAGED TO SUPPORT A SOCIAL GOALS AGENDA THAT WILL COLLECTIVELY ASSERT PRESSURE FOR CHANGE ON A RANGE OF CONTEMPORARY ISSUES INCLUDING CLIMATE CHANGE AND SOCIAL EXCLUSION 4HEY WILL ALSO HAVE THE OPPORTUNITY TO PROVIDE EXTRA SUPPORT TO LOCAL PROJECTS BY ELECTING TO DONATE ALL THEIR SHARE OF PROFITS TO THE 'ROUP S COMMUNITY DIVIDEND SCHEME THAT DISTRIBUTES GRANTS TO COMMUNITY GROUPS THROUGHOUT THE 5+

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!LTHOUGH AS ) STATED AT THE BEGINNING WE HAVE ONE OF THE MOST TRUSTED BRANDS WHICH REPRESENTS A DIFFERENT WAY OF DOING BUSINESS WE HAVE REAMS OF RESEARCH THAT SHOWS THAT FOR MANY CONSUMERS AND INDEED OUR OWN STAFF h#O OPv HAS LOST ITS ASSOCIATION WITH THE WORD AS AN ADJECTIVE OR A DESCRIPTION OF OUR BUSINESS %SPECIALLY AMONGST YOUNGER PEOPLE h#O OPv IS SIMPLY

A NAME OF A GROCERY STORE MADE UP OF FOUR ALMOST RANDOM LETTERS 4HAT IS WHY WE HAVE DEVELOPED A NEW BRAND WHICH ) BELIEVE WILL RE INVIGORATE THE #O OPERATIVE SECTOR IN THE 5+ )NITIALLY 4HE #O OPERATIVE 'ROUP HAS EMBARKED ON A PROGRAMME THAT WILL SEE ALL ITS FAMILY OF BUSINESSES RE BRANDED AS 4HE #O OPERATIVE AND THEN ) HOPE HAVING WITNESSED ITS SUCCESS OTHER SOCIETIES WILL ADOPT THE NEW BRAND ) BELIEVE THAT THERE ARE MILLIONS OF CONSUMERS ACROSS THE 5+ WHO SHARE OUR COMMITMENT TO SELF HELP SOCIAL RESPONSIBILITY AND DEMOCRACY AND LIKE US ARE PREPARED TO TAKE A STAND ON CONSUMER AND SOCIAL ISSUES !T A TIME WHEN COMMUNITIES ARE BECOMING INCREASINGLY D O M I N A T E D B Y A H A N D F U L O F L A R G E A N D I M P E R S O N A L BUSINESSES WE WANT TO SHOW 5+ CONSUMERS THAT THERE IS A BETTER ALTERNATIVE ONE THAT IS ULTIMATELY OWNED AND CONTROLLED BY THEM

Managing a Social Enterprise 2007

In Cambridge, Hatfield, and now back in three venues in Essex!

Improve your skills and your social enterprise performance in key areas

Project Management Money Management Marketing Business Planning Presentation Skills

3 3 3 3 3

Pick and mix one or more accredited modules from the list โ or do the lot!

To find out more please contact Carole Martindill from Anglia Ruskin University:

c.martindill@anglia.ac.uk - 0845 196 6833 - www.wiseproject.org.uk This training is supported by the East of England Development Agency, through its Investing in Communities Programme, and by the LSC Developing Skills programme, funded by the European Social Fund

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5NDOUBTEDLY WE NEED A DIFFERENT KIND OF MICROFINANCE TO "ANGLADESH BUT WE HAVE MORE OF THE SAME GENERAL PROBLEMS THAT CAUSED -UHAMMAD 9UNUS TO START THE WHOLE CONCEPT YEARS AGO THAN WE REALISE &OR STARTERS WE HAVE THE LOAN SHARKS ON THE ONE HAND AND THE hUNBANKABLEv INDEBTED POOR ON THE OTHER 4HE RECENT COMMENDABLE EFFORTS OF CREDIT UNIONS TO RESCUE SOME OF THE VICTIMS OF &AREPAK S COLLAPSE HIGHLIGHTED THE TIP OF THE PROVERBIAL ICEBERG BUT ALSO SHOWED WHAT CAN BE DONE SEE h#REDIT UNIONS STEP INv ON PAGE "UT WE NEED A STRONGER MORE COHESIVE Ì ÌiÃÊ C RE D I T U N I O N M I C RO C RE D I T £\Ê* VÞÊ-ÌÕ` iÃÊ ÃÌ ÌÕÌi Ó\Ê >Ì > Ê ÃÕ iÀÊ Õ V MOVEMENT )F ONE MAN AND Î\Ê9 À à ÀiÊ >«ÌiÀÊ vÊ Ài` ÌÊ1 à HIS 'RAMEEN "ANK CAN ACHIEVE {\Ê* VÞÊ-ÌÕ` iÃÊ ÃÌ ÌÕÌi x\Ê iÞ iÊ9 À à ÀiÊ `ÕÃÌÀ > Ê> `Ê*À Û `i ÌÊ- V iÌÞ THIS WHY CAN T WE È\Ê/ ÀÀ ܽÃÊ*i « i ­ Ê>V Ü i`}iÊ- ivv i ` `Êv ÀÊ«Õ }ÊÌ }iÌ iÀÊÌ iÊ >L ÛiÊà ÕÀViî Ç\Ê Õà }ÊEÊ i } L ÕÀ `ÃÊ Ì ÀÊ ÃÊ>Û> >L iÊvÀ Ê

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ECONDARY CO OPERATIVES OR CONSORTIA ARE WELL ESTABLISHED AS A FORM OF SOCIAL ENTERPRISES THAT BRING TOGETHER GROUPS OF ORGANISATIONS THAT WANT TO WORK IN A MUTUALLY SUPPORTIVE WAY 7HEN A GROUP OF US WERE PLANNING THE DEVELOPMENT OF A SOCIAL ENTERPRISE NETWORK FOR THE REGION WE DECIDED THIS WAS THE WAY THAT 3%%% SHOULD OPERATE 7E DECIDED THIS FOR THE FOLLOWING REASONS s 3%%% SHOULD OPERATE AS A NETWORK NOT AS A STAND ALONE AGENCY s 3%%% S MEMBERS ARE PART OF ITS RESOURCES AND THE STRUCTURE SHOULD ENABLE THEM TO DELIVER SERVICES ON 3%%% S BEHALF s 3%%% SHOULD BE OWNED AND CONTROLLED BY ITS MEMBERS s 3%%% S SUCCESSES SHOULD TRANSLATE DIRECTLY INTO BENEFITS FOR THE MEMBERS 7HEN WE WERE RESEARCHING THE OPTIONS AVAILABLE TO US WE CONTACTED A NUMBER OF OTHER REGIONAL SOCIAL ENTERPRISE NETWORKS AND ASKED THEM ABOUT WHAT LEGAL STRUCTURE THEY HAD AND WHETHER IT WAS WORKING FOR THEM OR NOT 4HE MOST COMMON RESPONSE WE HAD WAS hACTUALLY WE RE REVIEWING OUR STRUCTURE AT THE MOMENTv 3O WE REALISED THAT THE OBVIOUS MODELS SUCH AS COMPANIES LIMITED BY GUARANTEE OR CHARITIES WERE NOT NECESSARILY THE ANSWER 7E THOUGHT ABOUT WHAT 3%%% WOULD ACTUALLY BE DOING

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OF MATERIALS TRANSPORT AND MARKETING -ORE RECENTLY SMALL PRODUCERS OF ALL KINDS HAVE USED THE SAME MODEL INCLUDING #RAFTCO A CO OPERATIVE OF CRAFTS PEOPLE IN 3UFFOLK WHO SHARE A SHOP IN 3OUTHWOLD %AST !NGLIAN "REWERS A CO OPERATIVE OF MICRO BREWERS IN THE REGION WHO BUY INGREDIENTS n PARTICULARLY THOSE NEGOTIATED WITH LOCAL FARMERS WHO HAVE GROWN SPECIFIC

ORGANIC OATS FOR USE BY THE BREWERS n AND PROMOTE THEIR BEERS AND THE LOCAL BREWING INDUSTRY 4HEY ARE ALSO AIMING TO GAIN %UROPEAN RECOGNITION AS LOCAL PRODUCERS 0RODUCED IN .ORFOLK 0). IS A NEW BUT VERY ACTIVE SECONDARY CO OP THAT IS MARKETING THE PRODUCE OF ITS MEMBERS LOCAL FOOD AND CRAFT PRODUCERS WHO SOURCE MATERIALS LOCALLY 0I. WAS ALSO ABLE TO GENERATE FUNDING FROM %%$! TO SUPPORT LOCAL PRODUCERS AND IS NEGOTIATING JOINT TRAINING FOR ITS MEMBERS

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AS A BUSINESS ADVISER IT HELPS IF PEOPLE DON T HAVE TOO CLEAR AN IDEA ABOUT THE BUSINESS STRUCTURE THEY WANT TO USE )T ISN T ALWAYS USEFUL TO HAVE CLIENTS WHO HAVE ALREADY DECIDED THEY SPECIFICALLY WANT TO SET UP A CO OPERATIVE OR A SOCIAL FIRM OR INCREASINGLY A #OMMUNITY )NTEREST #OMPANY #)# )T IS MORE IMPORTANT THAT THEY HAVE DECIDED WHAT THEIR BUSINESS IS GOING TO DO AND HOW THEY WANT IT TO OPERATE THEN WE CAN WORK TOGETHER TO IDENTIFY THE RIGHT BUSINESS STRUCTURE AND HELP THEM TO SET IT UP

4HERE ARE A LARGE NUMBER OF SECONDARY CO OPERATIVES IN THIS REGION n MOSTLY AGRICULTURAL CO OPS AS FARMERS HAVE LONG RECOGNISED THE BENEFITS OF GETTING TOGETHER TO SHARE COSTS

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HURSDAY TH .OVEMBER WAS 3OCIAL %NTERPRISE $AY AND .ICKY 3TEVENSON FROM 4HE 'UILD ATTENDED THE LAUNCH OF THE GOVERNMENT S NEW 3OCIAL %NTERPRISE !CTION 0LAN WITH 'ORDON "ROWN (ILARY !RMSTRONG AND %D -ILIBAND h)T WAS REALLY SIGNIFICANT THAT THE GOVERNMENT S NEW !CTION 0LAN WAS LAUNCHED BY THE #HANCELLOR AT .UMBER 'ORDON "ROWN S SPEECH SHOWED THAT HE IS REALLY ENGAGED WITH THE BENEFITS OF SOCIAL ENTERPRISES AND STRESSED THAT THEY MUST NOT JUST BE SEEN AS CONTRIBUTING TO THE '$0 BUT ALSO SUPPORTING COMMUNITIES AND BUILDING THE FABRIC OF OUR SOCIETY 7E ALSO HAD A RECORDED GOODWILL MESSAGE FROM 0ROFESSOR -UHAMMAD 9UNUS WHO RECENTLY WON THE .OBEL 0EACE 0RIZE n JOINTLY WITH THE 'RAMEEN "ANK HE FOUNDED n FOR HIS MICROCREDIT PROGRAMMES "REAKFAST WAS PROVIDED BY *AMIE /LIVER S &IFTEEN AND IT WAS FASCINATING TO BE INSIDE A BUILDING WITH SUCH AN IMPORTANT PAST AND TO SEE THE FAMOUS SELECTION OF "UDGET $AY CARTOONS AS YOU GO UPSTAIRSv SAID .ICKY 4HE !CTION 0LAN AIMS TO RAISE AWARENESS OF WHAT SOCIAL ENTERPRISES CAN ACHIEVE AND ENCOURAGE MORE PARTICIPATION AND INVESTMENT 9OU CAN DOWNLOAD THE PLAN

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HE 3EAMLESS 3UPPORT PROJECT WAS OFFICIALLY LAUNCHED ON 4HURSDAY TH .OVEMBER .ICKY 3TEVENSON WAS INTERVIEWED BY ""# 2ADIO .ORFOLK ABOUT THE PROJECT .ICKY TALKED ABOUT HOW IN THE PAST IT WAS DIFFICULT FOR PEOPLE WISHING TO START UP COMMUNITY GROUPS TO ACCESS BUSINESS ADVICE 4HE 3EAMLESS 3UPPORT PROJECT COMBATS THIS PROBLEM

BY OFFERING GOOD QUALITY FREE ADVICE TO GROUPS IN .ORFOLK !NYONE WHO HAS AN IDEA FOR A NEW ORGANISATION OR SEEKING HELP FOR AN EXISTING ONE CAN CONTACT ANY OF THE PARTNERS INVOLVED IN THE PROJECT AND THEY WILL BE REFERRED TO THE RIGHT PLACE 4HE PARTNERS ARE 4HE 'UILD .ORWICH AND .ORFOLK 6OLUNTARY 3ERVICES 7EST .ORFOLK 6#! AND .ORFOLK 2URAL #OMMUNITY #OUNCIL 7\ WWW SEAMLESSSUPPORT CO UK 4HE FIRST TRAINING SESSION FOR THE PROJECT IS ON 4HURSDAY $ECEMBER TH 'O TO 7\ WWW THE GUILD CO UK FOR MORE INFORMATION

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HE %SKIMOS H A V E O R M O R E WORDS FOR SNOW 9OU PROBABLY KNOW THAT BUT HAVE YOU EVER MARVELLED AT THIS LINGUISTIC EXCESS

WONDERING HOW DELICATELY THE SPEAKERS OF THE LANGUAGES n FOR THERE IS NOT ONE LANGUAGE BUT A NUMBER OF LANGUAGES WHICH ARE CALLED %SKALEUT OR ONE OF SEVERAL OTHER NAMES n MUST PICK THEIR WAY THROUGH THEIR VOCABULARY TO COME TO THE RIGHT TERM TO DESCRIBE WHAT IS FALLING OR HAS FALLEN FROM THE SKY 9ET HAVE YOU STOPPED TO MARVEL AT THE FACT THAT %NGLISH ITSELF HAS QUITE A FEW WORDS TO DESCRIBE SNOW AND EVEN MORE TO DESCRIBE RAIN 4HE POINT IS THAT WHETHER WE LIVE IN !LASKA OR THE 5+ WE MAKE OUR LANGUAGES WORK TO DESCRIBE ACCURATELY THE THINGS THAT MATTER TO US 4HE MAINSTREAM BUSINESS WORLD HAS A WHOLE VOCABULARY TO DESCRIBE AND COMMUNICATE THE IDEAS AND CONCEPTS THAT MATTER 3OMETIMES THIS LANGUAGE TIPS OVER ALARMINGLY INTO THE JARGONISTIC MEANINGLESS AND BIZARRE BUT FOR THE MOST PART IT IS USEFUL

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AND TO THE POINT 9ET IT SEEMS THAT THE SOCIAL ENTERPRISE MOVEMENT IS RELUCTANT TO SPEAK THE LANGUAGE OF BUSINESS 3HOULD WE SHUN IT OR EMBRACE IT

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) AM FIRMLY IN THE CAMP OF EMBRACING IT )N THE SOCIAL ENTERPRISE MOVEMENT WE ARE INVENTING NEW WAYS OF DOING BUSINESS NOT BUSINESS ITSELF 4HIS MEANS THAT WE NEED TO LOOK TOWARDS THE VOCABULARY OF BUSINESS

LEARN WHAT IT MEANS AND HOW TO USE IT TO DESCRIBE OUR BUSINESS ACTIVITY 7HY IS IT SO IMPORTANT /NE REASON IS THAT JUST AS THE IMPORTANCE OF BEING SPECIFIC ABOUT THE KIND OF RAIN DRIZZLE SLEET IS PART OF COMMUNICATING APPROPRIATE ACTION TAKE AN UMBRELLA STAY IN USING THE LANGUAGE OF BUSINESS INDICATES THE LEVEL OF IMPORTANCE OF THE SUBJECT AND HELPS WITH TAKING APPROPRIATE ACTION &OR EXAMPLE

TALKING ABOUT MARKET SEGMENTATION OR CASH FLOW FORECASTS GIVES US A TOOL TO DO MARKET SEGMENTATION OR CASH FLOW FORECASTING IN A MORE SPECIFIC AND CONSIDERED WAY n THE LANGUAGE INTERPRETS THE CONCEPT AND REINFORCES ITS IMPORTANCE "Y UNDERSTANDING THE LANGUAGE A WHOLE WORLD OF BUSINESS SUPPORT OPENS UP "Y NAMING AN ISSUE IN THE LANGUAGE OF BUSINESS

YOU CAN BROWSE THROUGH THOUSANDS OF BOOKS ON THE SUBJECT OR FIND RELEVANT HELP ON THE

INTERNET )T IS SO MUCH EASIER WHEN YOU KNOW HOW OTHER PEOPLE DESCRIBE THE ISSUE

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!NOTHER REASON IS THAT WE NEED TO LET THE BUSINESS COMMUNITY KNOW THAT WE HAVE SOMETHING IN COMMON n THAT WE TOO ARE CREDIBLE BUSINESSES WITH THE EXTRA DIMENSION THAT OUR BUSINESS ACTIVITY HAS A SOCIAL PURPOSE /NCE WE SPEAK THE SAME LANGUAGE THE OPTIONS OF NETWORKING WITH THE MAINSTREAM SMALL BUSINESS COMMUNITY OPEN UP WE CAN SWAP EXPERIENCE WHAT WORKS WHAT DOESN T ALL OF WHICH HELPS IN RUNNING THE BUSINESS )T IS AN ESTABLISHED FACT THAT SMALL BUSINESSES THAT NETWORK GET MOST OF THEIR USEFUL BUSINESS ADVICE AND SUPPORT FROM OTHER SMALL BUSINESSES SO SOCIAL ENTERPRISES NEED TO TAP INTO THAT RICH RESOURCE )T MAKES NO SENSE TO EXPECT MAINSTREAM SMALL BUSINESSES n OF THE MILLION BUSINESSES IN THE 5+ n TO LEARN HOW TO COMMUNICATE WITH THE SOCIAL ENTERPRISES IN THE COUNTRY )F WE WANT TO LIVE IN THEIR WORLD AND TAKE OUR IDEAS INTO IT IT IS UP TO US TO LEARN THE LANGUAGE 4HAT DOESN T MEAN THAT WE CAN T INTRODUCE A FEW VOCABULARY ITEMS OF OUR OWN 32/) IS A GOOD ONE TO START WITH "UT WE CAN DO THIS BETTER IF WE ALREADY HAVE A MUTUAL UNDERSTANDING BASED ON A COMMON LANGUAGE

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INCE ITS LAUNCH JUST OVER A YEAR AGO THE NEW LEGAL MODEL FOR SOCIAL ENTERPRISE THE #OMMUNITY )NTEREST #OMPANY #)# HAS ATTRACTED MUCH ATTENTION AND SUPPORT 4HIS IS PERHAPS DUE IN NO SMALL PART TO ITS ASSET LOCK n ALTHOUGH NOT UNIQUE TO THE #)# STRUCTURE IT IS THE MOST PUBLICLY VISIBLE AND ON THAT BASIS

MANY HAVE COME TO ACKNOWLEDGE THE #)# AS A VALUABLE MODEL FOR SOCIAL ENTERPRISES TO BADGE AND IDENTIFY THEMSELVES AS SUCH IN THEIR MARKETPLACES /VER THE LAST YEAR MANY VARIANTS WITHIN THE #)# HAVE EMERGED AS SOCIAL ENTERPRISES HAVE SOUGHT TO @TWEAK THE MODEL TO BEST FIT AND REFLECT THEIR PARTICULAR STRUCTURES AND FOCUSES (OWEVER CERTAIN ASPECTS OF A #)# REMAIN MANDATORY AND MUST BE ADOPTED AND ENFORCED IN ORDER FOR AN ENTERPRISE TO BE AWARDED #)# STATUS

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)T IS WITH REGARD TO SOME OF THESE MANDATORY REQUIREMENTS THAT ) HAVE BECOME INCREASINGLY CONCERNED AS ) SEE MANY GROUPS SEEKING TO BECOME #)#S WITHOUT APPRECIATING OR REALISING THEIR IMPLICATIONS )N THE ABSENCE OF AN OVERARCHING LEGAL DEFINITION SOCIAL ENTERPRISES ARE IDENTIFIED

BY THEIR VALUES AND HOW THEY ENACT THOSE VALUES )T THEREFORE SEEMS VITAL THAT THEIR CHOSEN LEGAL STRUCTURE ENABLE THEM TO PROTECT THESE BUT WITHIN THE #)# @RULE BOOK ) FEEL THAT THERE LURK SOME HIDDEN DANGERS )N PARTICULAR

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4 H I S N O T O N L Y B R I N G S I N T O QUESTION HOW WELL A CO OPERATIVELY STRUCTURED SOCIAL ENTERPRISE WOULD B E A B L E T O E N A C T T H E I R V A L U E O F EQUALITY BUT ALSO THAT OF SOLIDARITY n SURELY BETTER THAT DECISIONS BE CARRIED WITH A CONSENSUS MAJORITY VOTE )F A DECISION IS CONTENTIOUS ENOUGH TO EVENLY SPLIT OPINION THEN FORCING IT THROUGH ON THE SAY OF ONE MEMBER RISKS A FUTURE SPLIT IN THE GOVERNANCE OF THAT ENTERPRISE

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DIRECTORS WHO ARE NOT PRESENT AT MEETINGS MAY BE SUPPORTING OR OPPOSING MOTIONS THAT THEY HAVE NO KNOWLEDGE OF 4HIS IS NOT ONLY AN EVEN GREATER RISK TO THE GOOD GOVERNANCE OF THAT ENTERPRISE

BUT ALSO ALLOWS FOR A REMOVAL AND CONTRADICTION OF SELF RESPONSIBILITY IF ANOTHER DIRECTOR MAY VOTE ON YOUR BEHALF

WHY SHOULD YOU BOTHER TAKING THE INTEREST OR RESPONSIBILITY OF BEING INVOLVED IN THE MANAGEMENT OF THAT ENTERPRISE 4HESE CLAUSES ARE LISTED IN THE MODEL #)# MEMORANDUM AND ARTICLES OF ASSOCIATION

AND FROM EXPERIENCE ATTEMPTS TO CHANGE OR REMOVE THEM FROM AN APPLYING ENTERPRISE LEADS TO THE APPLICATION BEING DEFERRED WITH A REQUEST THAT THEY BE RE INSERTED 'IVEN ALL THE HYPE AND EXCITEMENT THAT SEEM TO BE SURROUNDING #)#S APPARENTLY

WHEREVER *OHN (ANLON THE CHIEF REGULATOR OF #)#S SPEAKS THERE S IMMEDIATELY A SURGE IN APPLICATIONS FROM THAT AREA

) M CONCERNED THAT MANY ENTERPRISES ARE RUSHING IN TO ADOPT THE MODEL WITHOUT BEING MADE FULLY AWARE OF THE IMPLICATIONS AND ALTERNATIVE OPTIONS THAT MAY EXIST 3OME SOCIAL ENTERPRISES WHO ARE AWARE OF THIS @SMALL PRINT AND ITS IMPLICATIONS

BUT ARE CLEAR THAT THE #)# IS THE RIGHT MODEL FOR THEM ) WISH ALL THE LUCK IN THE WORLD "UT MANY ADVISERS AND ENTERPRISES AREN T AWARE OF THESE CLAUSES OR THE IMPLICATION THAT THEY MAY BE COMPROMISING THEIR VALUES THAT THEY HOLD SO DEAR IN DEFINING THEMSELVES

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" 1 /9Ê / , -/Ê " * 9Ê ) WOULD LIKE TO THANK YOU FOR CONTACTING ME ON /CTOBER ABOUT THE #O OPERATIVE COMMUNITY INTEREST COMPANY #)# MODEL 9OU ARE PARTICULARLY CONCERNED ABOUT THE REQUIREMENT THAT #)#S INCLUDE IN THEIR MEMORANDUM OR ARTICLES OF ASSOCIATION A PROVISION ABOUT THE CHAIRMAN HAVING A CASTING VOTE AT DIRECTORS MEETINGS

AND ABOUT THE PROVISIONS WHICH THEY ARE REQUIRED TO MAKE IN THEIR MEMORANDUM OR ARTICLES ABOUT ALTERNATE DIRECTORS ! S RE G A RD S T H E F I R S T O F T H E S E REQUIREMENTS YOU SUGGEST THAT THIS hNOT ONLY BRINGS INTO QUESTION HOW WELL A CO OP WILL BE ABLE TO ENACT THE VALUE OF EQUALITY BUT ALSO THAT OF SOLIDARITY v !S REGARDS ALTERNATE DIRECTORS YOU SUGGEST THAT THE REQUIREMENT hALLOWS FOR AN UNEQUAL BALANCE OF VOTING RIGHTS BUT ADDITIONALLY ALLOWS FOR DIRECTORS TO VOTE ON BEHALF OF EACH OTHER IN THEIR ABSENCE n IN SUCH AN ENVIRONMENT DIRECTORS WHO ARE NOT PRESENT MAY BE SUPPORTING OR OPPOSING MOTIONS THAT THEY HAVE NO KNOWLEDGE OF 4HIS IS NOT ONLY AN EVEN GREATER RISK TO THE GOOD GOVERNANCE OF THE ENTERPRISE BUT ALSO ALLOWS FOR A REMOVAL AND CONTRADICTION WITH THE CO OP VALUE OF SELF RESPONSIBILITY IF ANOTHER DIRECTOR MAY VOTE ON YOUR BEHALF WHY SHOULD YOU BOTHER TAKING THE INTEREST OR RESPONSIBILITY

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4HE 2EGULATIONS PROVIDE THAT EVERY COMMUNITY INTEREST COMPANY MUST INCLUDE IN ITS MEMORANDUM OR ARTICLES PROVISION TO THE EFFECT THAT QUESTIONS ARISING AT A MEETING OF DIRECTORS SHALL BE DECIDED BY A MAJORITY OF VOTES IN CASE OF AN EQUALITY OF VOTES THE CHAIRMAN SHALL HAVE A SECOND OR CASTING VOTE SEE REGULATIONS AND OF AND PARAGRAPH OF 3CHEDULES TO TO THE 2EGULATIONS 4HE 2EGULATOR S ROLE IS SIMPLY TO ENFORCE COMPLIANCE WITH THIS STATUTORY REQUIREMENT NOT TO JUSTIFY ITS EXISTENCE (OWEVER ) THINK THAT THE THINKING BEHIND IT MAY BE AS FOLLOWS A #)#S SHOULD NOT FALL UNDER THE CONTROL OF INDIVIDUALS OR ORGANISATIONS WHO ARE NOT MEMBERS OF THE #)# B )T IS THEREFORE IMPORTANT THAT #)#S SHOULD NOT GET INTO A POSITION WHERE A MAJORITY OF THE BOARD OF DIRECTORS HAVE BEEN APPOINTED BY NON MEMBERS C 4HE 2EGULATIONS THEREFORE REQUIRE THAT NON MEMBERS SHOULD NOT BE GIVEN THE RIGHT TO APPOINT OR DISMISS A MAJORITY OF THE BOARD SEE PARAGRAPH OF 3CHEDULES TO TO THE 2EGULATIONS D (OWEVER THIS RAISES THE PROSPECT OF DEADLOCK IF ALL THE DIRECTORS APPOINTED

BY MEMBERS VOTE ONE WAY AND ALL THOSE APPOINTED BY NON MEMBERS VOTE THE OTHER WAY E )N ORDER TO AVOID SUCH DEADLOCK THE 2EGULATIONS REQUIRE THE CHAIRMAN TO HAVE A CASTING VOTE 4HE EFFECT OF THE CASTING VOTE PROVISION IS TO ENSURE THAT WHOEVER THE CHAIRMAN IS THE CHAIRMAN WILL DECIDE THE MATTER IN THE BEST INTERESTS OF THE COMPANY 4HIS IS BECAUSE IN THE WORDS OF "UCKLEY ON THE #OMPANIES !CTS hTHE POWERS ENTRUSTED TO THE CHAIRMAN IN HIS CAPACITY AS SUCH ARE NOT PERSONAL RIGHTS TO BE EXERCISED ACCORDING TO HIS FANCY BUT MUST BE EXERCISED IN GOOD FAITH FOR THE PURPOSE FOR WHICH THEY WERE CONFERREDv 4HIS IS OF COURSE ONLY ONE PARTICULAR EXAMPLE OF THE BROADER PRINCIPLE THAT THE DIRECTORS POSITION IS A FIDUCIARY ONE *UST AS IN EXERCISING THE CASTING VOTE THE CHAIRMAN SHOULD CONSIDER WHETHER OR NOT THE PASSING OF A RESOLUTION BY SUCH A VOTE IS IN THE BEST INTERESTS OF THE COMPANY SO EACH DIRECTOR SHOULD DECIDE HOW TO VOTE IN BOARD MEETINGS ON THE BASIS NOT OF HIS OWN PERSONAL INTERESTS OR THE INTERESTS OF ANY BODY WHOSE REPRESENTATIVE HE MAY BE

BUT ON HIS INDEPENDENT JUDGMENT OF WHAT THE BEST INTERESTS OF THE COMPANY ARE )N THE CASE OF A #)# DIRECTORS SHOULD ALSO BE

GUIDED BY THE NEED TO SERVE THE INTERESTS OF WHATEVER COMMUNITY IT IS FOR WHOSE BENEFIT THE #)# HAS BEEN SET UP 'IVEN THE GENERAL FIDUCIARY DUTIES OF DIRECTORS IT IS OPEN TO QUESTION WHETHER THE PROVISION GIVING THE CHAIRMAN A CASTING VOTE IS REALLY NECESSARY (OWEVER

BECAUSE OF THE CHAIRMAN S FIDUCIARY DUTIES

) DO NOT THINK THAT IT IS LIKELY TO CAUSE PROBLEMS IN PRACTICE 4HE 2EGULATIONS ALSO PROVIDE THAT A DIRECTOR WHO IS ALSO AN ALTERNATE DIRECTOR SHALL BE ENTITLED IN THE ABSENCE OF HIS APPOINTER TO A SEPARATE VOTE ON BEHALF OF HIS APPOINTER IN ADDITION TO HIS OWN VOTE SEE REGULATIONS AND OF AND PARAGRAPH OF 3CHEDULES TO TO THE 2EGULATIONS 4HIS PROVISION AS ) UNDERSTAND IT IS DESIGNED TO PRESERVE THE BALANCE BETWEEN DIRECTORS APPOINTED BY MEMBERS AND NON MEMBERS IN CASES WHERE DIRECTORS HAVE APPOINTED EACH OTHER AS ALTERNATES (OWEVER THE 2EGULATIONS DO NOT REQUIRE #)#S TO PROVIDE IN THEIR MEMORANDUM OR ARTICLES FOR THE APPOINTMENT OF ALTERNATE DIRECTORS AND IN THE ABSENCE OF EXPLICIT PROVISION FOR SUCH APPOINTMENT

DIRECTORS HAVE NO POWER TO MAKE SUCH APPOINTMENTS

«« V>Ì Ê vÊÌ iÊ >ÜÊqÊÜ i ÊÌ iÀiÊ ÃÊ> ÊiµÕ> ÌÞÊ vÊÛ ÌiÃÊ ) HAVE RECENTLY AGREED A MODEL MEMORANDUM AND ARTICLES OF ASSOCIATION WITH #O OPERATIVES 5+ 4HE MODEL INCLUDES A REQUIREMENT THAT AT BOTH GENERAL AND DIRECTORS MEETING IN CASE OF AN EQUALITY OF VOTES THE CHAIRMAN SHALL HAVE A SECOND OR CASTING VOTE ) HAVE DISCUSSED THIS MODEL WITH #O OPERATIVES 5+ AND THEY HAVE CONFIRMED THAT THE REQUIREMENT IN RESPECT OF A GENERAL MEETING SHOULD BE TREATED AS AN OPTIONAL CLAUSE AND NOT AS MANDATORY 4HE REQUIREMENT ABOUT THE CHAIRMAN S CASTING VOTE IS MANDATORY BEING PROVIDED FOR IN THE 2EGULATIONS AS SET OUT ABOVE !S 2EGULATOR OF #OMMUNITY )NTEREST #OMPANIES ) DO NOT PRESUME TO JUDGE THE COMPATIBILITY OR OTHERWISE OF ANY PROVISION WITH CO OPERATIVE PRINCIPLES (OWEVER FOR THE REASONS ) HAVE GIVEN ABOVE ) BELIEVE THAT IF THE PROVISION IS READ IN THE BROADER CONTEXT OF COMPANY LAW IT SHOULD NOT BE SEEN AS UNDERMINING ANY #)# S ABILITY TO BENEFIT THE COMMUNITY WHICH IT IS ESTABLISHED TO SERVE

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4HE FIRST POINT TO MAKE ABOUT THE REQUIREMENT TO INCLUDE A PROVISION ABOUT VOTING BY ALTERNATE DIRECTORS IS THAT THERE IS NO REQUIREMENT FOR ANY #)# TO ALLOW ITS DIRECTORS TO APPOINT ALTERNATES 4HE REQUIREMENT IS SIMPLY THERE TO DEAL WITH

THE MECHANICS OF VOTING IN THE EVENT THAT A #)# DOES MAKE PROVISION FOR THE APPOINTMENT OF ALTERNATE DIRECTORS n EITHER ON ITS FORMATION OR SUBSEQUENTLY .EITHER THE MODEL #)# CO OPERATIVE CONSTITUTION WHICH ) HAVE AGREED WITH #O OPERATIVES 5+ NOR THE OTHER CONSTITUTIONS WHICH ) HAVE PUBLISHED FOR USE BY #)#S GENERALLY MAKE ANY SUCH PROVISION (OWEVER WHERE ALTERNATES ARE APPOINTED ) AM NOT SURE WHETHER THEY REPRESENT SUCH A THREAT TO CO OPERATIVE PRINCIPLES AS YOU SUGGEST ! DIRECTOR MUST NOT DELEGATE HIS FUNCTIONS TO ANOTHER PERSON IN AN IRRESPONSIBLE MANNER THAT WOULD BE INCONSISTENT WITH HIS FIDUCIARY DUTIES -OREOVER ANY ALTERNATE DIRECTOR IS BOUND BY THE SAME FIDUCIARY DUTIES AS THE DIRECTOR WHO APPOINTED HIM TO ACT IN THE BEST INTERESTS OF THE COMPANY

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9OU ARE NOT THE FIRST PERSON TO QUESTION THE APPROPRIATENESS OF THE REQUIREMENTS IN PARAGRAPHS OF 3CHEDULES

OF THE #OMMUNITY )NTEREST #OMPANY 2EGULATIONS TO A PARTICULAR TYPE OF COMPANY &OR THE REASONS ) HAVE GIVEN ABOVE ) DO NOT THINK THAT THEY DO ANY HARM IN THEIR PRESENT FORM (OWEVER IT IS NOT CLEAR TO ME THAT THERE IS SUFFICIENT JUSTIFICATION FOR A STATUTORY REQUIREMENT TO INCLUDE THESE PROVISIONS IN EVERY #)# S MEMORANDUM OR ARTICLES )N THE INTERESTS OF BETTER REGULATION ) HAVE RECOMMENDED TO THE $EPARTMENT OF 4RADE AND )NDUSTRY WHICH IS RESPONSIBLE FOR THE #)#S LEGISLATION THAT THEY CONSIDER REMOVING THESE REQUIREMENTS ) HAVE ALSO DISCUSSED THE MATTER WITH #O OPERATIVES 5+ AND THEY HAVE INDICATED THAT THEY WOULD ALSO WELCOME SUCH A CHANGE &INALLY ) WOULD LIKE TO THANK YOU FOR TAKING THE TIME TO PUT YOUR THOUGHTS ON PAPER AND FOR OPENING UP THE DEBATE 9OU MAY BE ASSURED THAT ANY SUBSEQUENT CHANGES IN THE COMMUNITY INTEREST COMPANY LEGISLATION IN THIS RESPECT WILL BE NOTIFIED TO YOU PERSONALLY AND ON THE WEBSITE WWW CICREGULATOR GOV UK 9OURS SINCERELY

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HEN FORCES FITNESS INSTRUCTOR 4OM (OWAT LEFT THE ARMY IN

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T ON THE MORNING OF THE TH .OVEMBER 3OCIAL %NTERPRISE $AY THE LUXURIOUSLY EQUIPPED RIVERBOAT 'EORGINA SLIPPED HER MOORINGS IN #AMBRIDGE AT THE START OF A TWO AND A HALF HOUR CRUISE ALONG THE RIVER #AM /N BOARD WERE A PARTY OF GUESTS DRAWN FROM SOCIAL ENTERPRISES ACROSS THE REGION WHO HAD BEEN INVITED BY 4HE 3OCIAL %NTERPRISE 0EOPLE 43%0 TO CELEBRATE 3OCIAL %NTERPRISE $AY

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&OUNDED IN AS THE #AMBRIDGE #O OPERATIVE $EVELOPMENT !GENCY TO OFFER BUSINESS SUPPORT TO CO OPERATIVES IN THE AREA THE AGENCY FOUND THAT THERE WERE LESS AND LESS CO OPERATIVES THAT NEEDED THEIR HELP AND INCREASINGLY MORE OF THE NEWER SOCIAL ENTERPRISES THAT DID "ECAUSE OF THE CHANGING DEMANDS THE AGENCY RESPONDED TO THE NEW NEEDS BY DEVELOPING 43%0 AS A NETWORKING VEHICLE FOR SOCIAL ENTERPRISES AND TO REBRAND THE ORGANISATION TO ENHANCE ITS VISIBILITY IN THE SECTOR 43%0 OFFERS A RANGE OF SPECIALIST SUPPORT SERVICES FOR EMERGING GROWING AND IMPROVING SOCIAL BUSINESSES )N ADDITION

THEY AIM TO ACT AS A CATALYST FOR THE TRANSFER OF BEST PRACTICE AND KNOWLEDGE &OR EXAMPLE THEY ARE RUNNING A SOCIAL ACCOUNTING PILOT SCHEME WHICH IS ALREADY PRODUCING POSITIVE RESULTS !LTHOUGH THE 'EORGINA IS KNOWN AS MUCH FOR HER CUISINE AS FOR HER RIVER CRUISES THIS WAS NOT JUST AN EXCUSE FOR A LONG LEISURELY LUNCH CRUISING ALONG THE RIVER IN LUXURY BUT A SERIOUS IF HUGELY ENJOYABLE WORKING LUNCH

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43%0 0ROGRAMME -ANAGER OPENED THE PROCEEDINGS WITH A BRIEF HISTORY OF .ATIONAL %NTERPRISE 7EEK AND 3OCIAL %NTERPRISE $AY BEFORE INTRODUCING THE GUEST SPEAKER 2OBERT !SHTON THE WELL KNOWN AUTHOR ENTREPRENEUR AND BUSINESS CONSULTANT ! KEY MESSAGE THAT 2OBERT

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SO IT BECOMES A POINT OF DIFFERENCE 2OBERT GAVE THE GUESTS HIS TOP TEN TIPS FOR STARTING UP AND MANAGING A SOCIAL ENTERPRISE !MONG OTHER THINGS HE EMPHASISED s SOCIAL ENTERPRISES SHOULD NOT SELL THEIR SERVICES TOO CHEAPLY WHICH TOO MANY TEND TO DO s DON T FOCUS SOLELY ON ONE IDEA TO THE EXTENT THAT IT CONSUMES ALL AVAILABLE RESOURCES A COMMON MISTAKE IN THE SECTOR s CRUCIALLY DO NOT ALLOW THE DELIVERY PART OF RUNNING A BUSINESS TO EXCLUDE THE SELLING PART WHICH IS JUST AS IMPORTANT 2OBERT S TALK ENDED JUST AS THE BOAT TURNED ROUND FOR THE JOURNEY BACK TO #AMBRIDGE TIME FOR THE EQUALLY SERIOUS BUSINESS OF LUNCH 4HE GUESTS HAD ALL MADE THEIR SELECTION FROM THE MENU A FEW DAYS IN ADVANCE AND THE FOOD FULLY LIVED UP TO 'EORGINA S WELL DESERVED REPUTATION

WITH THE CHOCOLATE ROULADE EARNING SPECIAL PRAISE FROM THE GUESTS

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,UNCH AND THE REMAINDER OF THE TRIP GAVE THE GUESTS A CHANCE FOR SOME INTENSE NETWORKING AND THE BOAT QUICKLY BECAME A HUBBUB OF EXCITED CONVERSATIONS 4HE GUESTS INCLUDED PEOPLE IN THE EARLY STAGES OF STARTING UP A SOCIAL ENTERPRISE

STAFF FROM ESTABLISHED SOCIAL ENTERPRISES

BUSINESS ADVISORS AND LOCAL AUTHORITY STAFF

SO THERE WAS PLENTY OF @QUALITY NETWORKING FOR EVERYONE TO ENGAGE IN !T THE END OF THE CRUISE ALL THE GUESTS AGREED THAT IT HAD BEEN A WORTHWHILE AS WELL AS AN EXTREMELY PLEASANT WAY TO CELEBRATE 3OCIAL %NTERPRISE $AY AND ALL PARTICULARLY PRAISED THE NETWORKING OPPORTUNITIES IT HAD PROVIDED !LL IN ALL

THE DAY WAS HAILED AS A GREAT SUCCESS FOR 43%0 / iÊ- V > Ê ÌiÀ«À ÃiÊ*i « i / Ê >À`i /\Êä£ÓÓÎÊÎÈä ÇÇ \Ê v JÌ ià V > i ÌiÀ«À Ãi«i « i°V °Õ

4OM *OINED 4RAINING &OR ,IFE 4&, 4&, IS A ,ONDON BASED CHARITY THAT RUNS PERSONAL DEVELOPMENT PROGRAMMES

TRAINING COURSES AND @BACK TO WORK S C H E M E S F O R T H E D I S A D V A N T A G E D

PARTICULARLY FOR THE HOMELESS AND THE UNEMPLOYED 4OM STARTED AS 0ERSONNEL -ANAGER RISING TO 'ENERAL -ANAGER BEFORE BECOMING 3ENIOR 4RAINER AND EVENTUALLY

(EAD OF (OMELESS 0ROGRAMMES !MONG MANY OTHER THINGS DURING HIS TIME THERE 4OM DESIGNED MANAGED AND DELIVERED CUSTOMISED PERSONAL DEVELOPMENT COURSES DESIGNED FOR PARTICULAR DISADVANTAGED GROUPS SUCH AS LONE PARENTS EX FORCES PERSONNEL EX OFFENDERS AND ASYLUM SEEKERS 4OM GAINED A GREAT DEAL OF EXPERIENCE DURING HIS TIME AT 4&, AS WELL AS HONING HIS EXISTING SKILLS

HE ALSO LEARNT NEW ONES AND ALSO BEGAN TO THINK ABOUT STARTING HIS OWN PROJECT

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IS ONE OF THE REGION S GREAT SOCIAL ENTERPRISE SUCCESS STORIES ! NOT FOR PROFIT CO OPERATIVE RUN BY PRODUCERS FOR PRODUCERS

ITS AIM IS TO PROMOTE HIGH QUALITY FOOD

CRAFTS AND GIFTS GENUINELY PRODUCED IN THE COUNTY

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7HAT MAKES 0). S SUCCESS ALL THE MORE ASTONISHING IS THAT IT WAS FOUNDED A LITTLE OVER A YEAR AGO )N THIS RELATIVELY SHORT SPACE OF TIME IT HAS GROWN TO OVER MEMBERS AND IS ALREADY HAVING A MEASURABLE EFFECT 7ITH MEMBERS AS DIVERSE AS CHEESE MAKERS AND MILLINERS TO PROMOTE 0). HAS BEEN RESPONSIBLE FOR THE CREATION OF A RECOGNISABLE .ORFOLK BRAND 4HIS SORT OF SUCCESS DOES NOT JUST FALL INTO PLACE IT IS THE RESULT OF HARD WORK AND METICULOUS PLANNING &OR TWO YEARS BEFORE THE OFFICIAL LAUNCH IN -AY *ANE 4AYLOR AND THE SIX PERSON STEERING COMMITTEE LAID THE GROUNDWORK FOR THIS SUCCESS THROUGH EXTENSIVE MARKET RESEARCH AND A CAREFULLY WORKED OUT BUSINESS PLAN )T WAS

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4HERE WAS ONE PARTICULAR PROJECT THAT 4OM DESIGNED AND MANAGED FOR 4&, THAT GAVE HIM FOOD FOR THOUGHT ! KEEN DIVER

4OM HAD TAKEN A PARTY OF YOUNG PEOPLE AGED SOME OF THEM WITH PHYSICAL DISABILITIES TO -INORCA TO COMPLETE THEIR /PEN 7ATER COURSE AFTER FIRST PUTTING THEM THROUGH THEIR THEORY AND PRACTICAL TRAINING IN ,ONDON 2UNNING THAT COURSE INSPIRED 4OM TO FOUND "ALEARIC "EDROCK "" "" PROVIDES ACTIVITY HOLIDAYS FOR CORPORATE CLIENTS ADVENTURE HOLIDAY SEEKERS AND PEOPLE LIVING ON -INORCA 4HESE COMMERCIAL HOLIDAYS PARTLY PAY FOR SIMILAR HOLIDAYS DESIGNED FOR PEOPLE WITH DISABILITIES AND OTHERS WHO ARE SOCIALLY EXCLUDED 4OM CONTINUED TO REFINE HIS IDEAS AND

IN PARTICULAR THE WAY THAT COMMERCIAL HEALTH AND FITNESS PROGRAMMES CAN FINANCE SIMILAR PROGRAMMES FOR THE DISADVANTAGED AND HOW THESE MIGHT BE USED BY SOCIAL ENTERPRISES TO FUND THEIR WORK

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4O CELEBRATE 3OCIAL %NTERPRISE $AY 4OM

LAUNCHED HIS (EALTHY .ETWORKING SCHEME THE INAUGURAL SESSION WAS ATTENDED BY PEOPLE AT $ANBURY 3PORTS AND 3OCIAL #ENTRE IN %SSEX 0EOPLE PAIRED UP FOR FIVE MINUTES OF NETWORKING AT ONE EXERCISE STATION AT THE FITNESS CENTRE BEFORE MOVING ON TO OTHER EXERCISE EQUIPMENT AND ANOTHER PARTNER 4HE SESSION CONTINUED UNTIL EACH PERSON HAD PAIRED UP WITH EACH OF THE OTHER PEOPLE THERE 4HE PEOPLE THERE ALL FOUND THAT THE NATURAL LOWERING OF INTERPERSONAL BARRIERS THAT TAKES PLACE IN THE GYMNASIUM MADE NETWORKING BOTH EASIER AND A LOT MORE FUN "Y THE END OF THE SESSION THE DISPARATE PEOPLE WHO STARTED THE SESSION HAD BECOME A GROUP AND EVERYONE FELT

THAT THE DAY HAD BEEN A GREAT SUCCESS 4OM WAS DELIGHTED WITH THE LAUNCH (E ASSUMED THAT HE MIGHT NEED TO FINE TUNE THE PROGRAMME BUT REALISED THAT IT HAD GONE EXACTLY AS HE HAD HOPED 4OM NOW INTENDS TO BEGIN TO ROLL HIS SCHEME OUT ACROSS THE COUNTRY RUNNING SOME HIMSELF BUT SELLING THE FRANCHISE TO OTHER PEOPLE !LL PROFITS FROM THE SCHEME WILL GO TO A TRUST TO BUILD UP A FUND TO OFFER FINANCE TO SOCIAL ENTERPRISE AN AMBITION THAT MADE 3OCIAL %NTERPRISE $AY THE PERFECT DAY TO LAUNCH THE PROGRAMME

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Ê Àv AS A RESULT OF THIS CAREFUL PREPARATION THAT 0). WAS ABLE TO @HIT THE GROUND RUNNING FROM THE MOMENT OF ITS OFFICIAL LAUNCH &ROM THE OUTSET 0). UNDERSTOOD THAT GOOD 02 WAS GOING TO BE CRUCIAL TO THE SUCCESS OF THEIR PLANS 4HEY CONSTANTLY SEEK EVERY OPPORTUNITY TO GAIN PUBLICITY FOR THEIR MEMBERS AND FOR THE 0). CO OPERATIVE ITSELF 4O THIS END THEY HAVE CAREFULLY CULTIVATED GOOD RELATIONSHIPS WITH THE MEDIA IN THE COUNTY AND HAVE ACHIEVED SOME NOTABLE SUCCESSES 4HEY FREQUENTLY GET ARTICLES ABOUT THEIR WORK IN THE LOCAL NEWSPAPERS AND ARE REGULAR GUESTS ON ""# 2ADIO .ORFOLK

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,IKE MANY SOCIAL ENTERPRISES 0). S HEADLINE WORK IS ONLY PART OF THE STORY ITS REAL WORK IS RURAL REGENERATION AND BUILDING A COMMUNAL FEELING OF PRIDE IN ALL THINGS .ORFOLK 0). ALWAYS AIMS TO USE ONE STONE TO HIT AS MANY TARGETS AS POSSIBLE AND THEIR CELEBRATION OF 3OCIAL %NTERPRISE $AY WAS NO EXCEPTION 7ORKING ON THE PREMISE THAT YOU CAN T HAVE A REAL CELEBRATION

WITHOUT A CELEBRATORY CAKE 0). ASKED THE "READWINNER "AKERY TO BAKE A SPECIAL CAKE FOR THE DAY BUT 0). BEING 0).

IT HAD TO BE A RECOGNISABLY @.ORFOLK CAKE 4HE "READWINNER "AKERY DIDN T DISAPPOINT ALL THE INGREDIENTS IN THE CAKE CAME FROM LOCAL SOURCES AND THE CAKE WAS TOPPED OFF WITH AN ICING MAP OF THE COUNTY /N THE MORNING OF 3OCIAL %NTERPRISE $AY 3OPHIA "ATES FROM 0).

ARMED ONLY WITH THE CAKE A DIGITAL RECORDER AND A BIG SMILE ARRIVED AT .ORWICH S -ILLENNIUM &ORUM TO GET LOCAL PEOPLE IN THE AREA TO JOIN IN THE CELEBRATIONS /VER PEOPLE HAD SLICES OF THE CAKE AND EACH WAS ASKED TO SAY WHY THEY FELT PART OF THE COMMUNITY OF .ORFOLK 4HEIR COMMENTS WERE RECORDED AND CAN BE HEARD ON THE 0). WEBSITE WHERE THEY WILL REMAIN UNTIL #HRISTMAS 4HEY WILL ALSO BECOME THE FOUNDATION OF AN ARCHIVE THAT WILL BE ADDED TO OVER TIME )T WAS AN ENJOYABLE DAY IT WAS ALSO A SUCCESSFUL ONE -UCH INTEREST WAS GENERATED IN BOTH THE WORK 0). DOES AND SOCIAL ENTERPRISES IN GENERAL 0). S CELEBRATIONS ALSO FEATURED IN LOCAL RADIO

NEWS BROADCASTS THROUGHOUT THE DAY

TAKING THE MESSAGE TO AN EVEN WIDER AUDIENCE !LL IN ALL A PERFECT WAY TO CELEBRATE 3OCIAL %NTERPRISE $AY

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CONSULTATION WITH THE COMMUNITY OF THE ,EWSEY &ARM ESTATE IN ,UTON IDENTIFIED REAL NEEDS WITHIN THE COMMUNITY AND THE ESTATE )N RESPONSE TO THESE NEEDS AFTER A THOROUGH FEASIBILITY STUDY THE ,EWSEY &ARM ,EARNING #ENTRE 4RUST ,&,#4 WAS CREATED AND OPENED FOR BUSINESS IN &EBRUARY "ASED IN A SPECIALLY REFURBISHED DISUSED SCHOOL IN THE CENTRE OF THE ESTATE THE 4RUST S AIMS ARE TO SUPPORT THE FURTHER ENHANCEMENT OF SKILL LEVELS AMONGST LOCAL PEOPLE TO PROVIDE EMPLOYMENT OPPORTUNITIES FOR THEM THROUGH TRAINING

TO RAISE EDUCATIONAL STANDARDS AND THE QUALITY OF LIFE FOR ,EWSEY &ARM RESIDENTS AND TO CREATE A POSITIVE IMPACT ON THE LOCAL ECONOMY !LTHOUGH IT HAS BEEN OPEN FOR LESS THAN TWO YEARS THE 4RUST IS ALREADY MAKING A POSITIVE IMPACT ON THE LIVES OF THE ESTATE S RESIDENTS AND THE GROWING SENSE OF @COMMUNITY IS ALMOST TANGIBLE ON THE ESTATE

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4HE TRUST RUNS A WIDE RANGE OF COURSES

MANY OF WHICH ARE FREE TO LOCAL RESIDENTS

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S PART OF THE CELEBRATIONS OF 3OCIAL % N T E R P R I S E $ A Y % S S E X B A S E D &LEDGLINGS TOOK THEIR ROADSHOW TO .ORWICH AS GUESTS OF THE .ORFOLK AND .ORWICH 3COPE !SSOCIATION .!.3!

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&LEDGLINGS WHICH WAS AWARDED THE 1UEEN S !WARD FOR 6OLUNTARY 3ERVICE IN

WAS FOUNDED EIGHT YEARS AGO BY 2UTH ,INGARD -"% 4HEIR MISSION IS TO HELP PARENTS AND CARERS OF CHILDREN WITH DISABILITIES n OR SPECIAL NEEDS OF ANY KIND n TO FIND SIMPLE AFFORDABLE SOLUTIONS TO THE MANY PROBLEMS FACED BY THE CHILDREN

THEIR FAMILIES AND CARERS

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!MONGST THE FREE COURSES ARE BASIC %NGLISH BASIC MATHS %3/, %NGLISH FOR SPEAKERS OF OTHER LANGUAGES BASIC AND MORE ADVANCED COMPUTER LITERACY COOKERY COURSES HEALTH AND SAFETY AND FIRST STEPS INTO CHILDCARE 4HE TRUST ALSO RUNS HIGHER LEVEL COURSES SUCH AS ,EARNING 3UPPORT !SSISTANT #ITY AND 'UILDS LEVELS TWO AND THREE FOOD AND HYGIENE TO COMMERCIAL STANDARDS AND ADVANCED COMPUTING &EES ARE CHARGED WHICH HELP TO FINANCE THE #ENTRE -EMBERS OF THE COMMUNITY FREQUENTLY APPROACH THE 4RUST WITH IDEAS FOR COURSES THEY WOULD LIKE TO SEE AVAILABLE 7HEN THERE ARE ENOUGH PEOPLE INTERESTED IN A PARTICULAR COURSE THE 4RUST SEEKS FUNDING FROM THE ,IFELONG ,EARNING DEPARTMENT OF THE ,OCAL %DUCATION !UTHORITY WHICH ALLOWS THE 4RUST TO BUY THE TRAINING NEEDED TO RUN THE COURSE )N THIS WAY THE 4RUST IS ABLE TO RESPOND TO THE NEEDS OF THE COMMUNITY IT SERVES AND IT REMAINS FLEXIBLE ENOUGH TO CHANGE TO MEET NEW NEEDS AS THEY ARISE

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4HE ORIGINAL FUNDING FOR THE #ENTRE

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ENDED IN AND S I N C E T H A T T I M E , & , # 4 U N D E R 0ROJECT -ANAGER -A R T H A (A R U N A

HAS SOUGHT THAT ( O L Y ' R A I L F O R SOCIAL ENTERPRISES

T O B E C O M E S E L F FINANCING 4HE TRUST HAS ORGANISED ALL ITS RESOURCES TO ACHIEVE T H I S A I M A N D @SWEATS ITS ASSETS AS ASSIDUOUSLY AS ANYONE IN THE PRIVATE SECTOR WOULD !S WELL AS CHARGING FOR SOME OF THE COURSES THEY OFFER THE 4RUST ALSO RENTS OUT ROOMS AT THE #ENTRE TO OTHERS TO USE FOR TRAINING

INCLUDING THEIR FULLY EQUIPPED )4 SUITE 4HERE IS ALSO A HALL THAT IS HIRED OUT FOR FUNCTIONS AND THE RECENTLY OPENED &RESH "EAN #AF£ 4O MAKE FULL USE OF THE CAF£ S @STATE OF THE ART KITCHEN -ARTHA AND HER TEAM ARE PLANNING A COMMERCIAL OUTSIDE CATERING BUSINESS THAT WILL ALSO ADD TO THE 4RUST S INCOME STREAM )N THE SHORT TIME THAT IT HAS BEEN OPEN

THE #ENTRE HAS BECOME THE HEART OF THE COMMUNITY IT SERVES 4O CELEBRATE 3OCIAL

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4 H E Y O F F E R A W I D E R A N G E O F TOYS CLOTHING AND D E V E L O P M E N T A L AIDS WITH MANY OF THE PRODUCTS KEPT IN STOCK 4HEY ALSO OFFER A FREE P R O D U C T S E A RC H S E R V I C E T O F I N D UNUSUAL PRODUCTS THAT MIGHT NOT BE EASILY AVAILABLE AND THOSE DESIGNED SPECIFICALLY FOR CHILDREN WITH SPECIAL NEEDS 4HEY ARE ABLE TO ADVISE ON SOURCES OF FUNDING FOR LARGE EXPENSIVE BUT ESSENTIAL PRODUCTS AND HELP FAMILIES COMMUNICATE THEIR COLLECTIVE NEEDS FOR SPECIAL PRODUCTS TO MANUFACTURERS

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4HE .!.3! &AMILY 2ESOURCE #ENTRE WAS THE IDEAL PLACE TO HOLD THE ROADSHOW .!.3! OFFERS A RANGE OF SERVICES FOR PEOPLE OF ALL AGES WITH CEREBRAL PALSY AND ASSOCIATED DISABILITIES !S WELL AS OFFERING VOCATIONAL TRAINING EDUCATION AND SKILLS DEVELOPMENT COURSES FOR OVER

ADULTS IT ALSO RUNS THE .ORFOLK 3CHOOL FOR 0ARENTS #HILDREN AND THEIR PARENTS ATTEND WEEKLY SESSIONS WHERE THEY WORK IN SMALL GROUPS TO DEVELOP PHYSICAL SOCIAL

EMOTIONAL LANGUAGE COMMUNICATION AND CREATIVE SKILLS 4HE AIM OF THE 3CHOOL FOR 0ARENTS IS TO WORK WITH PARENTS TO DEVELOP THEIR CHILD S POTENTIAL TO THE FULL AND TO HELP THEM BECOME HAPPY POSITIVE AND MOTIVATED CHILDREN READY FOR SCHOOL /VER FAMILIES AND REPRESENTATIVES OF GROUPS ACTIVE IN THE FIELD ATTENDED THE ROADSHOW -ANY WERE ALREADY &LEDGLING CLIENTS AND CAME TO SEE AND LEARN ABOUT SOME OF THE PRODUCTS ON OFFER 4HE ROADSHOW WAS ALSO ATTENDED BY $R )AN 'IBSON -0 FOR .ORWICH .ORTH $R 'IBSON WAS IMPRESSED BY THE #ENTRE ITSELF AND THE WORK THAT IS DONE THERE AND BY WHAT &LEDGLINGS DOES TO IMPROVE THE LIVES OF THE AFFECTED CHILDREN THEMSELVES AS WELL AS FOR THE PEOPLE WHO CARE FOR THEM

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!FTER VISITING THE ROADSHOW $R 'IBSON SAID h4HE #ENTRE ITSELF IS ABSOLUTELY WORLD

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%NTERPRISE $AY THE #ENTRE THREW OPEN ITS DOORS AND INVITED LOCAL CHILDREN PARENTS AND GUARDIANS TO A DAY OF MAKING CAKES AND PATISSERIES AND OF COURSE EATING THEM 5NDER THE CARE OF A PROFESSIONAL TRAINER THE CHILDREN HAD A CHANCE TO TRY THEIR HAND AT BAKING AND IT WAS CLEAR THAT MANY OF THEM ENJOYED THE BAKING ALMOST AS MUCH AS THEY DID THE EATING 4HE DAY WAS GREAT FUN AND A WONDERFUL WAY FOR THE COMMUNITY TO CELEBRATE 3OCIAL %NTERPRISE DAY IN THEIR OWN CENTRE

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CLASS AND MUST BE ALLOWED TO DEVELOP 4HE RELATIONSHIP WITH &LEDGLINGS SHOWS HOW IT LOOKS OUTSIDE OF ITSELF TO INTERACT WITH ESSENTIAL SERVICES 4HE ROADSHOW ITSELF WAS WELL ATTENDED AND AN OBVIOUS SUCCESS 4HE TOYS AND EQUIPMENT WERE MAGNIFICENT )T IS IN THE NATIONAL INTEREST THAT CHILDREN WITH DISABILITIES GET THE VERY BEST CARE AND EQUIPMENT THEY NEED AND THAT THOSE WHO HELP AND CARE FOR THEM ARE SUPPORTED SO THAT THEY CAN STAY AHEAD OF THE GAME v !S IS USUAL AT &LEDGLINGS ROADSHOWS

THE PROFESSIONALS WORKING IN THE FIELD SHOWED A GREAT DEAL OF INTEREST IN THE LATEST PRODUCTS !S SO OFTEN HAPPENS THEY FIND NEW USES FOR SOME OF THE EQUIPMENT BEYOND WHAT IT WAS DESIGNED FOR AND SO ALL COME AWAY FROM THE ROADSHOW HAVING ADDED TO THEIR SHARED KNOWLEDGE !LL FAMILIES AND GROUP REPRESENTATIVES WERE GIVEN TICKETS TO TWO FREE PRIZE DRAWS

ONE IN THE MORNING ONE IN THE AFTERNOON

#HARACTERISTICALLY 2UTH ,INGARD USED THE BURSARY SHE RECEIVED FROM 3%%% TO ENSURE THAT EVERYONE TOOK SOMETHING HOME WITH THEM

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ANY PEOPLE HAVE THE IMPRESSION THAT SOCIAL ENTERPR ISE IS A RELATIVELY NEW PHENOMENON BUT NOTHING COULD BE FURTHER FROM THE TRUTH 4HERE ARE A SURPRISING NUMBER OF SOCIAL ENTERPRISES THAT HAVE BEEN IN EXISTENCE FOR OR MORE YEARS AND THEIR CONTINUING EXISTENCE SAYS MUCH ABOUT THE STRENGTH AND POTENTIAL OF THE SOCIAL ENTERPRISE SECTOR /AKWOOD 0ACK )T )N WAS FOUNDED OVER A QUARTER OF A CENTURY AGO AND IS STILL GOING STRONG TODAY

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/AKWOOD A PRIZE WINNING EMPLOYMENT TRAINING CO OPERATIVE BASED IN #LACTON ON 3EA PROVIDES VOCATIONAL TRAINING AND SUPPORT TO ADULTS WITH PHYSICAL AND OR LEARNING DIFFICULTIES AND SENSORY IMPAIRMENT )T HAS MEMBERS ALTHOUGH ONLY WORK ON ANY SINGLE DAY )T OFFERS A WIDE RANGE OF LIGHT INDUSTRIAL ASSEMBLY SERVICES INCLUDING SORTING PACKING

LABELLING RECLAMATION PART AND FULL ASSEMBLY AND OTHER SIMILAR WORK 7HILE MOST OF THE WORK IS UNDERTAKEN FOR LOCAL BUSINESSES /AKWOOD HAS SECURED CONTRACTS FROM ,ONDON AND OTHER PARTS OF THE COUNTRY AND IS CONSTANTLY LOOKING FOR MORE OPPORTUNITIES TO BRING IN EXTRA WORK /AKWOOD S AIM IS TO GET THOSE WHO ARE CAPABLE INTO MEANINGFUL OUTSIDE WORK AND EACH YEAR A NUMBER OF MEMBERS ACHIEVE THAT GOAL !S WELL AS GAINING WORK EXPERIENCE DIRECTLY MEMBERS ARE OFFERED ON SITE TRAINING 4UTORS FROM #HELMSFORD #OLLEGE COME TWICE A WEEK TO HELP MEMBERS THROUGH THE !3$!.

7ORKRIGHT COURSE 4HE COURSE COVERS A WIDE RANGE OF SUBJECTS AND IS DESIGNED TO HELP PEOPLE WITH LEARNING DIFFICULTIES PREPARE THEMSELVES FOR WORK -EMBERS ARE ALSO OFFERED THE OPPORTUNITY FOR ACHIEVING VOCATIONAL QUALIFICATIONS IN THE WORKPLACE

/AKWOOD S MEMBERS ARE ENCOURAGED TO PARTICIPATE AT ALL LEVELS NOT JUST IN THE WORKSHOP 4HE MEMBERS HAVE A COUNCIL WITH ELECTED OFFICIALS 4HE (EALTH AND 3AFETY MEETINGS HELD EVERY TWO WEEKS

ARE RUN BY THE MEMBERS THEMSELVES AND MANY MEMBERS HAVE BECOME ADEPT AT PROBLEM SOLVING ANOTHER VALUABLE SKILL IN THE WORKPLACE 4HE MEMBERS #OUNCIL ALSO HAVE CONTROL OVER A SPECIAL FUND 4HE MONEY IN THE FUND COMES FROM SPECIAL FUND RAISING EVENTS AND THE MEMBERS CAN SPEND IT ON ANY PROJECT THEY CHOOSE /AKWOOD STAFF WERE DELIGHTED WHEN THE COUNCIL RECENTLY DECIDED TO SPEND MONEY ON EQUIPMENT FOR THE WORKSHOP TO MAKE IT EASIER TO TAKE ON MORE WORK

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/AKWOOD HELD A DRAWING COMPETITION FOR ITS MEMBERS WITH THE THEME OF hWORKING AT /AKWOODv !LL OF THE MEMBERS TOOK PART

COMPETING FOR THE a a AND a PRIZES WHICH WERE TO BE AWARDED TO THE WINNER AND THE TWO RUNNERS UP 4HE STANDARD OF ALL THE ENTRIES WAS VERY HIGH AND THE JUDGES HAD A DIFFICULT TIME DECIDING WHICH WERE THE BEST )N THE END THE COMPETITION WAS WON BY (ENRY ,EWIS FOR HIS ENTRY @(ANDS ON SECOND WAS *ANET 3MITH WITH HER ENTRY @0RODUCTION ,INE AND THIRD PLACE WENT TO ,INDA #HURCHWARDEN WITH @1UALITY !SSURED !S WELL AS THE a PRIZE

(ENRY S DRAWING WILL BECOME /AKWOOD S NEW BUSINESS LOGO AND WILL APPEAR ON BADGES 4 SHIRTS AND BUSINESS CARDS )T WAS AN EXCITING AND FUN DAY FOR THE MEMBERS IT ADDED TO THE COMRADELY ATMOSPHERE IN THE WORKSHOP AND WAS JUDGED TO BE A SUCCESS BY ALL WHO WERE THERE

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ICROCREDIT HAS TAKEN ON A NEW PROMINENCE SINCE -UHAMMAD 9UNUS AND THE 'RAMEEN "ANK WON THIS YEAR S .OBEL 0EACE 0RIZE 4HE .ORWEGIAN .OBEL #OMMITTEE NOTED THAT hLASTING PEACE CAN NOT BE ACHIEVED UNLESS LARGE POPULATION GROUPS FIND WAYS IN WHICH TO BREAK OUT OF POVERTY -ICROCREDIT IS ONE SUCH MEANS $EVELOPMENT FROM BELOW ALSO SERVES TO ADVANCE DEMOCRACY AND HUMAN RIGHTS v -UHAMMAD 9UNUS BEGAN A MOVEMENT IN THE MID S THAT HAS OVERTURNED MANY CONVENTIONAL IDEAS ABOUT BANKING (IS WORK HAS EARNED HIM DOZENS OF AWARDS FROM AROUND THE WORLD AND HAS HELPED MILLIONS OF "ANGLADESHI FAMILIES BREAK AWAY FROM POVERTY S GRIP 0ROFESSOR 9UNUS DISCUSSED HIS REMARKABLE SUCCESS STORY WITH $AVID ,LOYD WHO INTERVIEWED HIM IN *UNE ON BEHALF OF 6ISION FOR THEIR !UTUMN 6ISION JOURNAL %XTRACTS BELOW ARE REPRODUCED BY PERMISSION 4HE FULL INTERVIEW AND ALSO ,LOYD S REPORT ON THE .OVEMBER 'LOBAL -ICROCREDIT 3UMMIT AND 9UNUS OPENING ADDRESS ARE ON THE 6ISION WEBSITE WWW VISION ORG

) WANTED TO SOLVE THAT NEW PROBLEM AND IT TOOK ME TO A FURTHER STAGE AND SO ON

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9 'RAMEEN S CUSTOMERS ARE EXTREMELY POOR PEOPLE THE POOREST 7E SEE IT AS SOMETHING OF A REVERSAL OF THE CONVENTIONAL BANKING SYSTEM WHICH IS BASED ON THE PRINCIPLE THAT THE MORE YOU HAVE THE MORE YOU CAN GET 3O THEY ARE RUNNING AFTER PEOPLE WHO HAVE THE MOST MONEY IN THE MEANTIME IGNORING PEOPLE WHO HAVE THE LEAST MONEY OR NO MONEY AT ALL /UR PRINCIPLE IS THAT THE LESS MONEY YOU HAVE THE HIGHER PRIORITY YOU ARE GIVEN PEOPLE WITHOUT ANY JOBS WITHOUT ANY LAND WITHOUT ANY INCOME !ND THEN WE FOCUS ON WOMEN 4ODAY 'RAMEEN "ANK HAS MILLION BORROWERS AND PERCENT OF THEM ARE WOMEN !GAIN

THIS IS A REVERSAL OF THE CONVENTIONAL BANKING SYSTEM BECAUSE CONVENTIONAL BANKS FOCUS ON MEN #ONVENTIONAL BANKS ARE OWNED BY THE RICH OUR BANK IS OWNED BY THE POOR 4HE BORROWERS OWN THE BANK SO WE DON T NEED ANY SECURITY ANY GUARANTEE ANY LEGAL INSTRUMENTS WE DON T NEED THE EXPERIENCE OF THE BORROWERS %ACH PRINCIPLE IS A SHARP REBUTTAL TO THE BANKING SYSTEM AND WHAT IT IS ALL ABOUT

9 "ASICALLY ) WAS TRYING TO SEE IF ) COULD HELP THE POOR PEOPLE SOLVE THEIR OWN PROBLEMS )T STARTED IN A VILLAGE NEXT TO THE UNIVERSITY CAMPUS WHERE ) WAS TEACHING IN THE MID S 7HEN ) FOUND THAT FOR A VERY SMALL AMOUNT OF MONEY THEY HAD TO GO TO THE MONEYLENDER ) TOOK A STUDENT OF MINE AND WENT AROUND THE VILLAGE AND MADE A LIST OF PEOPLE WHO WERE SUFFERING LIKE THIS 7HEN THE LIST WAS COMPLETE THERE WERE NAMES ON IT AND THE TOTAL AMOUNT OF MONEY OWED TO MONEYLENDERS WAS 4HAT WAS A SHOCK FOR ME THE AMOUNT WAS SO TINY !ND THE PUNISHMENT INFLICTED ON THEM BY THE MONEYLENDERS WAS SO HIGH THAT ) SAID h) CAN SOLVE THIS PROBLEM ) CAN GIVE THEM THE 4HEY DON T HAVE TO GO TO THE MONEYLENDER AND THEY WILL BE FREE v 3O THAT IS EXACTLY WHAT ) DID AND THEY WERE EXCITED ABOUT IT 4HEN ) THOUGHT ABOUT HOW ) MIGHT BE ABLE TO CONTINUE TO PROVIDE THEM WITH THE MONEY THEY NEEDED -AYBE ) SHOULD CONNECT THEM WITH THE BANK LOCATED ON THE CAMPUS AND THE BANK WOULD GIVE THEM MONEY BECAUSE THAT S THEIR BUSINESS 3O ) WENT TO THE BANK BUT THEY REFUSED 4HEY SAID h7E CANNOT LEND MONEY TO POOR PEOPLE BECAUSE THEY HAVE NO COLLATERAL NO SECURITY 7ITHOUT COLLATERAL THE BANK CANNOT WORK v 3O ) PUSHED INTO THE SECOND PHASE OF THE WORK ) OFFERED MYSELF AS A GUARANTOR )T ALL WORKED STEP BY STEP %ACH NEW SOLUTION CREATED A NEW PROBLEM

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9 4HE BANKING SYSTEM NOT ONLY REJECTS POOR PEOPLE IT REJECTS WOMEN RICH POOR MIDDLE INCOME IT DOESN T MATTER AS A CLASS THEY ARE REJECTED .OT EVEN PERCENT OF THEIR BORROWERS ARE WOMEN 3O ) DECIDED THAT PERCENT OF THE BORROWERS IN MY PROGRAM WOULD BE WOMEN 4HAT WAS A VERY DIFFICULT TASK

BECAUSE WOMEN THEMSELVES SAID h.O DON T GIVE IT TO ME GIVE IT TO MY HUSBAND ) DON T KNOW ANYTHING ABOUT MONEY v 3O THEY WERE RUNNING AWAY FROM US )T TOOK US SIX YEARS TO BUILD EVEN A RATIO 4 H E N W E S A W

MANY TIMES THAT MONEY THAT WENT TO WOMEN BROUGHT SO MUCH MORE BENEFIT TO THE FAMILY THAN THE SAME AMOUNT GOING TO THE FAMILY THROUGH THE MAN 3O WE SAID h7HY ARE WE GIVING IT TO

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9 4REMENDOUS )F SOMEONE VISITED "ANGLADESH YEARS AGO AND CAME BACK TODAY ONE THING THAT WOULD STRIKE THEM IS WHAT A CHANGE HAS HAPPENED FOR THE WOMEN 4HE EMPOWERMENT OF WOMEN IS TREMENDOUS ALL OVER "ANGLADESH !S A RESULT MANY SOCIALLY POSITIVE THINGS HAVE HAPPENED &OR INSTANCE MORTALITY IN MOTHERS HAS DECLINED VERY SHARPLY CHILD MORTALITY HAS ALSO DECLINED AND THE BIRTH RATE HAS DECLINED TO ALMOST HALF OF WHAT IT WAS YEARS AGO !ND TO MAKE THE STORY COMPLETE WE ARE NOW LENDING MONEY TO BEGGARS WHO HAVE NEVER DONE ANYTHING IN BUSINESS 7E SAY TO THEM AS THEY ARE GOING DOOR TO DOOR BEGGING h7OULD YOU CARE TO CARRY SOME MERCHANDISE WITH YOU v 4HEY ARE GOING THERE ANYWAY SO THEY CARRY SOME SWEETS SOME TOYS 4HEY SELL THEM

MAKE MONEY AND DON T HAVE TO BEG ANY MORE .OW WE HAVE

BEGGARS IN OUR PROGRAM AND THE TYPICAL LOAN IS ABOUT 3O WITH ONE CAN BE IN BUSINESS

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Õ `ÊÞ ÕÊiÝ« > ÊÌ ÃiÊÌiÀ ö 9 7ELL THESE ARE THE TERMS USED BY ACADEMICIANS AND PROFESSIONAL PEOPLE 7HAT WE DO IN 'RAMEEN "ANK IS LEND MONEY AND THE MONEY WE GIVE OUT COMES FROM DEPOSITORS !LSO

'RAMEEN BORROWERS PUT THEIR SAVINGS INTO THE BANK %ACH YEAR WE LEND OUT HUNDREDS OF MILLIONS OF DOLLARS ALL FROM DEPOSITS AND THE BANK S OWN MONEY !BOUT PERCENT OF THE MONEY IS OUT ON LOAN AND ABOUT PERCENT REMAINS ON DEPOSIT )T S ALL ENTIRELY GENERATED INSIDE THE BANK WE DON T BORROW FROM ANYONE

ÊÊ ÊÞ ÕÀÊL Ê > iÀÊÌ ÊÌ iÊ* À]ÊÞ ÕÊ i Ì ÊÌ >ÌÊ ÌiÀ >Ì > Ê> `Ê>VÌÕ> ÞÊ `iÀÃÊivv ÀÌÃÊÌ Ê«À ÌiÊ >À`ÊÜ À ]ÊÌ À vÌÊ> `ÊÃi v Ài > Vi°Ê9 ÕÊ > iÊ>Êà >ÀÊ « ÌÊ>L ÕÌÊ > ` }Ê ÕÌÊ iÞÊ>ÌÊÌ iÊ«iÀà > Ê iÛi °Ê

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9 #HARITY IS WHAT GOVERNMENTS AND RELIGIONS HAVE BEEN DOING %VERY GOVERNMENT CAME OUT WITH A CHARITY PROGRAM CALLING THEM WELFARE PROGRAMS 4HIS IS NOT A SOLUTION TO POVERTY BECAUSE IT DAMAGES THE INITIATIVE OF HUMAN BEINGS 0UTTING FOOD AND OTHER THINGS IN FRONT OF A PERSON AND SAYING h3TAY ALIVE STAY HEALTHY WE ARE TAKING CARE OF YOUv IS LIKE CREATING A HUMAN ZOO )N THE ZOO YOU FEED THE ANIMALS YOU TAKE CARE OF THEM YOU HEAL THEM WHEN THEY ARE SICK BUT THAT S NOT THEIR NORMAL LIFE (UMAN LIFE IS ABOUT CREATIVITY !LL HUMAN BEINGS ARE PACKED WITH ALL THE CREATIVITY THAT ANY HUMAN BEING CAN HAVE !LL YOU NEED TO DO IS TO UNPACK THAT TO GET THE PERSON TO UNWRAP HIMSELF OR HERSELF SO THEY CAN MOVE FORWARD #HARITY TAKES AWAY THAT OPPORTUNITY ) ACCEPT CHARITY IN SPECIAL CIRCUMSTANCES 7HEN THE TSUNAMI HAPPENED ) ACCEPTED CHARITY BUT IN EVERYDAY LIFE THIS IS NOT ACCEPTABLE !ND CHARITY OFFERED IN SPECIAL CASES SHOULD HAVE A KIND OF EXPIRY DATE )T CANNOT BE A PERMANENT SOLUTION $ONOR MONEY COMES WITH TWO MOODS BEHIND IT /NE IS A CHARITY MOOD h7E ARE A RICH COUNTRY 4HESE GUYS ARE SUFFERING 4HEY ARE WITHOUT FOOD 7E SHOULD GIVE THEM SOMETHING v "UT ALONG THE WAY THE BUSINESS MOOD CAME IN h) LL GIVE YOU THE MONEY BUT YOU HAVE TO BUY MY PRODUCT OR HIRE MY CONSULTANTS

OR TAKE MY IDEA v 3O YOU TRANSFORM YOUR CHARITY MOOD INTO A BUSINESS MOOD AND IT GRADUALLY BECOMES A SELF INTEREST MOOD THAT ) WILL GIVE YOU MORE MONEY AND TAKE IT BACK FOR MY OWN BUSINESS SAKE 7E HAVE EXAMINED DONOR CONTRIBUTION IN

"ANGLADESH OVER THE YEARS AND WE SEE THAT PERCENT OF IT WENT BACK TO THE DONOR COUNTRY IN TERMS OF PAYMENTS FOR CONSULTANCY FOR GOODS AND SERVICES PROVIDED FOR CONTRACTS MADE WITH THE DONOR COUNTRIES AND SO ON /NLY PERCENT CAME TO "ANGLADESH AND PART OF THAT WENT TO LOCAL CONSULTANTS

CONTRACTORS AND EXPERTS 3O IN THE NAME OF HELPING THE POOR PEOPLE YOU HAVE ACTUALLY DIVIDED THINGS AMONG YOURSELVES THE PRIVILEGED PEOPLE 4HAT IS WHAT ) AM OBJECTING TO 9ES DONOR MONEY AND INTERNATIONAL RESPONSIBILITY ARE VERY IMPORTANT

BUT IT IS THE QUALITY THAT IS IMPORTANT RATHER THAN THE QUANTITY 1UANTITY CAN DECEIVE BECAUSE YOU ARE TAKING BACK )T IS A KIND OF TRICK WITH NUMBERS 1UALITY IS ABOUT HELPING THE POOR PEOPLE IN THAT COUNTRY BUILDING UP THE ECONOMY SO THEY CAN TAKE CARE OF THEMSELVES RATHER THAN REMAIN DEPENDENT

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9 /NE REASON 'RAMEEN "ANK BECAME KNOWN GLOBALLY IS THAT IT FOUNDED A SYSTEM WHERE LOANS GET PAID BACK EVEN WITHOUT COLLATERAL /UR REPAYMENT RATE IS PERCENT /UR SYSTEM ENCOURAGES PEOPLE TO PAY IT BACK ON THEIR OWN NOT BECAUSE SOMEONE IS PUSHING THEM LIKE THE MONEYLENDERS DO BEATING UP PEOPLE TO GET THE MONEY BACK 4HROUGH THE SYSTEM WE HAVE DEVELOPED LIKE WEEKLY PAYMENTS A TINY AMOUNT YOU CAN ALWAYS PAY YOUR BIG LOAN BECOMES SMALLER UNTIL YOU HAVE ULTIMATELY PAID IT BACK !ND WHATEVER YOU BOUGHT REMAINS YOURS SO YOU START GETTING THE FULL BENEFIT !ND THAT IS AN ENCOURAGEMENT !LSO THE SUCCESS OF YOUR BUSINESS GETS YOU EXCITED 9OU NEVER EARNED MONEY BEFORE AND NOW YOU ARE EARNING MONEY SO MAYBE YOU WANT TO KEEP THE DOOR OPEN SO YOU CAN TAKE MORE MONEY AND MOVE FORWARD !ND THAT IS WHAT THEY DO /UR BASIC PRINCIPLE IS THAT PEOPLE SHOULD NOT COME TO THE BANK THE BANK SHOULD GO TO THE PEOPLE 7E DO hDOORSTEP BANKINGv SO THAT PEOPLE DON T HAVE TO LEAVE THEIR HOMES !ND WE MAKE LOANS FOR INCOME GENERATING ACTIVITIES SO THAT ALSO MAKES IT EASY FOR THEM TO PAY BACK !LL THIS TOGETHER PROVES THAT YOU DON T NEED COLLATERAL BANKING CAN BE DONE ON TRUST Ú 6ISION -EDIA 0UBLISHING

ALL RIGHTS RESERVED %XTRACTED BY PERMISSION ÕÃi`ÊLÞÊ `Ê«iÀ ÃÃ Ê vÊ À> ii Ê >

MEN THEN 7HY DON T WE GIVE MONEY TO WOMEN ONLY v 3O WE CHANGED OUR POLICY %VER SINCE WE HAVE GIVEN PRIORITY TO WOMEN

UNTIL TODAY THEY AMOUNT TO PERCENT OF OUR CUSTOMERS

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AND THE #REDIT 5NIONS !CT %D "ALLS SAID h7E WILL IDENTIFY THE STRENGTHS AND WEAKNESS OF THE CURRENT FRAMEWORK AND PRODUCE RECOMMENDATIONS FOR IMPROVEMENT AND REFORM !ND WE WILL BE EXAMINING THE RECENT #OMPANIES !CT TO EXPLORE WHETHER IT CONTAINS ELEMENTS THAT SHOULD BE ADOPTED INTO THE LEGAL FRAMEWORK UNDER WHICH MUTUALS OPERATE v 4HIS IS THE CULMINATION OF MANY YEARS INTENSE WORK BY THE #O OPERATIVE 0ARTY WHICH HAS CONSISTENTLY ARGUED FOR THE NEED TO UPDATE CO OPERATIVE LEGISLATION (AVING PAVED THE WAY WITH TWO 0RIVATE -EMBERS "ILLS AND FACILITATED THE USE OF 3TATUTORY )NSTRUMENTS THE 0ARTY NOW LOOKS FORWARD TO WORKING WITH THE 4REASURY TO COMPLETE THE MODERNISATION OF CO OP LAW

/Ài>ÃÕÀÞÊ ÌÌiiÊ ÀiV i `>Ì ÃÊ Üi V i` ! " # 5 , H A S W E L C O M E D R E C O M M E N D A T I O N S I N A R E P O R T B Y T H E 4R E A S U R Y 3E L E C T #O M M I T T E E W H I C H WILL STRENGTHEN THE CREDIT UNION MOVEMENT AND BRING AFFORDABLE CREDIT AND SAFE SAVINGS TO MORE PEOPLE 4 H E RE P O R T S A Y S B A N K S SHOULD STOP TREATING PEOPLE WHO WANT TO OPEN "ASIC "ANK !CCOUNTS LIKE @SECOND CLASS CITIZENS 4HE 4REASURY 3ELECT #OMMITTEE HAS CALLED ON THE 'OVERNMENT TO ACTIVELY SUPPORT THE DEVELOPMENT OF THE #REDIT 5NION #URRENT

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(ARLOW AND "EDFORD !T THE #REDIT 5NIONS %AST MEETING ON $ECEMBER MOST CREDIT UNIONS CONFIRMED THAT THEY ARE LENDING TO PEOPLE WITHOUT A SAVINGS RECORD AT A CREDIT UNION PROVIDED A &AREPAK PAYMENT RECORD IS PRODUCED (ARLOW3AVE HAD A RECORD NUMBER OF JOINERS APPLYING FOR LOANS IN .OVEMBER THANKS TO LOCAL PRESS COVERAGE O F F E R I N G H E L P T O &A RE P A K VICTIMS 2AINBOW 3AVER IN ,OWESTOFT WAS FEATURED ON ""# ,OOK %AST WITH A FORMER &AREPAK AGENT ADVOCATING PUTTING FUTURE SAVINGS INTO THE SAFETY OF THE CREDIT UNION

AS WELL AS BORROWING 7ITHIN DAYS OVER PEOPLE JOINED IN ,OWESTOFT AND A RECORD NUMBER OF LOANS WERE ISSUED IN THE SAME WEEK WITH MORE IN THE PIPELINE )PSWICH AND 3UFFOLK #REDIT 5NION RECEIVED TWO PAGES O F C OV E R A G E I N 4 H E 3U N N E W S P A P E R R E S U L T I N G I N PHONE CALLS AND VISITS TO THE )3#5 OFFICE FROM JOINERS KEEN TO BORROW 4HE AVERAGE LOAN IS a REPAID OVER ONE YEAR

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NETWORK IS A CHARITABLE TRUST SUPPORTING LOCAL COMMUNITY C A U S E S & I N D O U T A B O U T YOUR LOCAL FOUNDATION AND GRANTS AVAILABLE AT 7\ WWW COMMUNITYFOUNDATIONS ORG UK

ËÓäÊ Ê>Û> >L iÊ >ÃÊ > ÃÊqÊà V > Ê i ÌiÀ«À ÃiÃÊV> Ê>«« Þ 4HE #HAR ITY "ANK WHICH ENCOURAGES PEOPLE TO USE THEIR SAVINGS TO PROVIDE LOANS TO SUPPORT COMMUNITY BASED ACTIVITIES HAS ANNOUNCED T H A T I T H A S a M I L L I O N AVAILABLE TO LEND TO CHARITABLE ORGANISATIONS COMMUNITY GROUPS AND SOCIAL ENTERPRISES 4HIS FOLLOWS THE ANNOUNCEMENT THAT THE "ANK S BALANCE SHEET HAD GROWN TO OVER a MILLION SINCE #HARITY "ANK LOANS ARE GENERALLY FOR AMOUNTS OF BETWEEN a AND a

AND CAN BE FOR ANYTHING FROM A NEW COMPUTER TO A MORTGAGE T O P U RC H A S E A B U I L D I N G (OWEVER THE "ANK IS ESPECIALLY KEEN TO HELP THOSE SMALLER ORGANISATIONS THAT ARE SEEKING A LOAN OF UP TO a

!PPLICATIONS FOR LOANS CAN BE MADE AT ANY TIME 7\ WWW CHARITYBANK ORG INDEX HTML

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ARE SET TO LAUNCH A YOUTH FUND TO PROVIDE NEW OPPORTUNITIES F O R I N N O V A T I V E S O C I A L ENTERPRISES 4HE FUND WILL PROVIDE GRANTS OF UP TO a

FOR YOUTH LED START UPS 0HILIP 5DEH 6 MEMBER AND 6 TRUSTEE SAID h4HE YOUTH FUND WILL OFFER YOUNG PEOPLE THE CHANCE TO BECOME SOCIAL ENTREPRENEURS 7E PLAN TO USE MORE INNOVATIVE METHODS TO OPEN ACCESS TO OPPORTUNITIES v 7\ HTTP SNIPURL COM F K V Ü i`}i i ÌÃÊ Ì Ê À}> Ã>Ì ÃÊ Ü ÃiÊ i â iÃÊ > `Ê ÜiLà ÌiÃÊ ÜiÊ >ÛiÊ >VViÃÃi`Ê Ì Ê LÀ }Ê ,ià ÕÀViÃÊ 1 Ìi`Ê Ì Ê Þ Õ°Ê Ê «>ÀÌ VÕ >À\Ê 1 ]Ê

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OW DO YOU TACKLE THE PROBLEM OF UNEMPLOYMENT BY ENGAGING LOCAL PEOPLE IN FINANCING THE SOLUTIONS 4HIS WAS THE QUESTION #ITYLIFE SET FOR ITSELF OVER YEARS AGO WHEN IT BEGAN AS A PROJECT OF THE #AMBRIDGE BASED THINK TANK THE 2ELATIONSHIPS &OUNDATION 4HE ANSWER EMERGING FROM PHILANTHROPIC #ITY FINANCIAL EXPERTS WE KNEW WAS TO ADAPT COMMERCIAL FINANCIAL PRODUCTS FOR CHARITABLE PURPOSES #ITYLIFE S @#OMMUNITY )NVESTMENT "OND IS THE RESULT

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4HE ESSENCE OF THE CONCEPT WAS TO GET PEOPLE TO LEND TO CHARITY INSTEAD OF GIVING IN ORDER TO UNLOCK DIFFERENT SOURCES OF FUNDING AS WELL AS TO RECOGNISE THAT TACKLING LOCAL ECONOMIC DEVELOPMENT IS NOT CHEAP AND REQUIRES SIGNIFICANT FUNDING 4HE GENIUS OF OUR ADVISORY BOARD WAS TO SUGGEST THAT YOU COULD RELEASE THE INTEREST UP FRONT IF YOU SPLIT WHATEVER YOU RAISED INTO A SAFE LOAN AT THE BEST POSSIBLE RATE SUFFICIENT TO REPAY ALL INVESTORS IN YEARS TIME WITH THE BALANCE IN YOUR HAND EFFECTIVELY THE FUTURE INTEREST ON THAT LOAN

4HIS IS REALLY USEFUL WHEN YOU NEED A LUMP OF CAPITAL FOR MATCH FUNDING OR DEPLOYMENT WHERE ANNUAL INTEREST PAYMENTS WOULDN T BE SO EFFECTIVE

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/UR RESEARCH AT THE TIME DISCOVERED THAT )NDUSTRIAL AND 0ROVIDENT 3OCIETIES WERE THE BEST VEHICLE FOR ISSUING "ONDS WITH MINIMAL RED TAPE AS THERE ARE CERTAIN EXEMPTIONS FROM THE &INANCIAL 3ERVICES !CT 7E DELIBERATELY DESIGNED OUR "ONDS TO BE VERY SAFE AND SECURE SO THAT PEOPLE WOULD HAVE ABSOLUTE CONFIDENCE THAT THEIR MONEY WOULD BE RETURNED TO THEM 7E THEREFORE LEND AROUND THREE QUARTERS OF THE PRINCIPAL TO A HOUSING ASSOCIATION FOR LOCAL AFFORDABLE HOUSING WORKSPACE AND OTHER COMMUNITY PROPERTY 4HIS LOAN IS BANK GUARANTEED FOR EXTRA COMFORT AND FINALLY THE WHOLE ARRANGEMENT WRAPPED UP AND ASSIGNED TO A TRUSTEE ORGANISATION THAT ACTS ON BEHALF OF "ONDHOLDERS SO THEY KNOW THEY WILL STILL GET THEIR MONEY BACK EVEN IF WE CEASE TO EXIST OR THE LOAN GOES BAD 7E HAVE GOT SOME GREAT HOUSEHOLD NAMES IN THESE ROLES LIKE #OOPERATIVE "ANK .ORTHERN 2OCK AND "RADFORD "INGLEY 7 E B E L I E V E T H E C H A R I T A B L E C O M M U N I T Y B E N E F I T S O C I E T Y OR @BENCOMM AS THOSE )03S WHICH ARE NOT MUTUALS ARE KNOWN IS ONE OF THE MOST POWERFUL I N S T R U M E N T S A V A I L A B L E F O R L O C A L E C O N O M I C A N D P H Y S I C A L R E G E N E R A T I O N PROJECTS )T PAYS NO

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TAX HAS THE OPTION OF BONDS SHARES AND DONATIONS CAN OFFER INTEREST ON ITS SHARES AND BONDS HAS SIMPLE GOVERNANCE A BOARD OF TRUSTEE DIRECTORS AND ONE MEMBER ONE VOTE FOR THE GENERAL MEMBERSHIP AND A FAIRLY LIGHT TOUCH REGULATORY ENVIRONMENT (OWEVER WE STILL FACE THE ISSUE THAT PEOPLE GENERALLY HAVEN T HEARD OF THIS TYPE OF ORGANISATION AND THE REGULATION IS GROWING YEAR BY YEAR

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4EN YEARS ON AND WE VE RAISED ALMOST a MILLION OF ZERO INTEREST "OND CAPITAL SINCE THE FIRST 3HEFFIELD OUTING IN 4WO "ONDS HAVE FULLY REPAID AND GRATIFYINGLY MANY OF THE INVESTORS SEEM WILLING TO ROLL THEIR "OND OVER FOR ANOTHER YEAR PERIOD OR DONATE SOME OR ALL OF IT OUTRIGHT WHEN THEY REALISE THEY DON T MISS THE MONEY 9OU ALSO HAVE THE CHANCE TO BUILD A RELATIONSHIP WITH THE INVESTORS OVER THE FIVE YEAR PERIOD 7E VE GOT OVER INVESTORS INCLUDING HOUSEHOLD NAMES WHO HAVE HELPED PEOPLE INTO WORK TO START NEW BUSINESSES OR SOCIAL ENTERPRISES AND BUILD OVER NEW HOUSING UNITS -ANY HAVE VISITED THE PROJECTS AND INDIVIDUALS SUPPORTED AND GOT INVOLVED IN MANAGEMENT COMMITTEES AND EVEN THE LOCAL "OND ADMINISTRATION 4HERE IS A LONG WAY TO GO UNTIL EVERY COMMUNITY IN "RITAIN HAS A MEANS BY WHICH ITS CORPORATE AND INDIVIDUAL CITIZENS CAN INVEST IN THEIR LOCAL AREA AND THEIR NEIGHBOURS WELLBEING BUT YOU HAVE TO START SOMEWHEREx -ARTIN #LARK IS $EVELOPMENT $IRECTOR OF #ITYLIFE /\ \ÊMARTIN CITYLIFELTD ORG 7\ÊWWW CITYLIFEBOND ORG

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