Cash boost for community cooperative
10:28am Friday 9th November 2012 in News
A local group is celebrating a £10,000 cash boost from the Dragon's Den towards community cooperatives buy-outs in West Wales.
A subcommittee of community cooperative 4CG Ltd traveled to Hay on Wye to compete in a Wales wide contest for a pot of £10,000.
The group won the dragons den style contest, fielding fierce questioning from the stage from a panel of business veterans.
The money will support the roll out of the community ownership model, which has proved successful in Cardigan.
The model enabled the initial purchase of nearly an acre of the town by more than 400 shareholders, followed by the purchase agreement for the police station and courthouse.
A seperate group is now hoping to buy Cardigan’s popular Cellar Bar using the same model of the community buy-out.
Other groups in Eglwyswrw, Hermon and Glandwr are aiming to set up village shops and centres.
Project leader Vicky Moller, said: “The idea that a community can own its own main buildings, shopping streets, productive land, educational resources etc is quite simple and common sense on the surface, but the implications are immense."
4CG Treasurer - Cris Tomos added: "We are glad to be able to assist other groups take the route we have and to promote community purchases and community enterprises.
“4CG is not only there to run its own enterprises but to help anyone wanting to do something similar, especially in the Cardigan area."