About Community
Benefit Societies
What is a Community Benefit Society?
A Community Benefit Society is an organisation founded and run expressly to support the needs of the community, rather than specific shareholders. Members purchase shares in the society and have a say in the running of the society at the annual members’ meeting on a one-member-one-vote basis. Any profit made by a community benefit society must be used for the benefit of the community. Unlike a co-operative society, in our case, profits cannot be distributed to members of The Society. Membership is a way of supporting the community business , helping it achieve its objectives.
How does it work?
Community benefit societies must only use their assets for the benefit of the community. If a community benefit society is sold, converted, or amalgamated with another legal entity, its assets must continue to be used for the benefit of the community and must not be distributed to members.
In simple terms, investors – locals, or anyone that wants to support the community business – buy shares in a registered society. Some societies can pay interest on these investments, but we have chosen to amend our rules to preclude this. The shares cannot be traded like company shares and their value does not increase, but they can be withdrawn by the investor on application to the management committee. Shares are issued on a one-member, one-vote basis, so that each investor has equal influence over the governance processes of the business regardless of the size of their investment.
How does this relate to Amberley Shop and Café ?
A Community Benefit Society was established under the name ‘Amberley Shop on the Common’. We raised circa £72,000 through the sale of £10 shares in this society.
You can still buy shares to support for the business here >>
About Community Shops
Supporting local businesses helps to keep money in the local economy
The long term survival rate of community shops is 94%
At the end of 2024 there were over 828 community shops in the UK, This represents a 70% increase since 2014
The combined turnover of rural community businesses is £166m
There are approximately 3500 full-time staff and 25,000 volunteers working in community businesses
53% of community shops engage young people providing employment and training opportunities
Read more about community projects in the UK on the Plunkett Foundation website >>
