Who will benefit from this venture? 

The main beneficiaries will be the people living in and around Shaw and Whitley, who will have a local shop and associated amenities, run for the benefit of the community and secured for the future. A wider group, including visitors to the area and also local suppliers, will also benefit. There will be scope for profits to be used for social and charitable purposes within the local area.

Is it a good business proposition? 

We believe it is. The community shop model is robust and there are many success stories to show that a community that works together to set up such a venture, goes on to support it.  

Who will run the business? 

The shop will be run by the Shaw and Whitley Community Hub Management Committee,  supported by volunteers from the community and the Spindles Bikes coffee shop manager. The SWCH Management Committee will be selected by member vote at the AGM. 

What happens if the business fails? 

In the unlikely event of the business failing, any surplus from the sale of the assets (after paying creditors and repaying share capital to investors) would be used for the benefit of the community in some way, under the direction of the Management Committee. If you are a shareholder under the SEIS provisions, you may be eligible for tax relief on any loss incurred on your shareholding. 

Who can become a shareholder? 

Anyone aged 18 or over can invest and become a member.  

How much can I invest? 

The minimum investment is £10; the maximum amount of share capital that you can invest in this venture is £4,000 or 10% of the total shares in the company. 

Can I invest in instalments? 

No, but it is possible that other share issues may be made in the future.

Can I simply make a donation? 

Yes, all donations are very welcome, but you would not become a ‘member’, and would not be eligible for tax relief.

Are the committee competent and do they have a personal financial interest? 

The Management Committee has considerable business experience. They are a group of volunteers who believe passionately in bringing a shop to Shaw and Whitley. They have no personal financial interest in this project beyond the amount they are each investing themselves and will not profit personally from the venture. 

Can I sell my shares on? 

No, these are a special type of share known as a ‘Community Share’.  The only way to recover their value is to apply to withdraw your shares from the community venture.

How can I get my money back if I need it? 

To enable the business to build up sufficient reserves, it will be at least three years before you can apply to withdraw any shares.  After that, subject to three months’ notice, you can apply to the Management Committee to withdraw some or all of your shares.