Good Practice Award for Finance Activities
Patricia Alexander, Managing Director at Shared Interest, said:
"With share accounts varying from £100 to £100,000, we maintain
that shareholders have an equal voice and vote regardless of
account size. Our investors are the lifeblood of Shared Interest
and achieving this standard is recognition of their continued
loyalty and commitment. They will be delighted to know we are one
of the first organisations to receive this accolade."
Community shares are one of the fastest growing forms of 'good
money' in the UK. This year, 80 share offers are set to raise more
than £40m through more than 50,000 individual investors. This type
of investment is typically used to finance local shops, pubs,
community buildings and renewable energy.
The government-backed Community Shares Unit (CSU) is supporting
this growing market with the introduction of the Standard Mark.
Since its launch in July 2015, over ten share offers have received
the Mark along which Shared Interest, many of which have listed on
the CSU's community shares platform Microgenius.
Now as part of Good Money Week, the CSU is helping emerging
groups launch their share offer and meet good practice standards
via a new online tool called 'Step-by-Step'. This tool helps groups
successfully navigate the journey from initial idea to share offer
launch - and generates a bespoke report that highlights key areas
Simon Borkin, Programme Lead of the Community Shares Unit, said:
"The Step-by-Step tool clearly guides groups through the process of
financing an enterprise through community shares, allowing social
ventures to raise good money with confidence."
Organisations are already receiving vital support from key
front-line providers and practitioners including Plunkett
Foundation, Supporters Direct and Community Energy England. This
tool has been designed to work alongside this support, for projects
at all stages of development, from those new to the idea to those
who are about to launch their share offer." The online tool can be