Ryburgh Community Enterprise
A community-owned shop brings together residents and revitalises a Norfolk village.
When Andrew Purdy moved to the village of Great Ryburgh in Norfolk six years ago, he was looking forward to being part of a friendly local community that catered for all its residents바카라 사이트� needs. There was a pub, a post office, a shop, a church and a school. But he soon realised that village life might not live up to his expectations. 바카라 사이트淭he school closed and the pub and church were struggling,바카라 사이트� remembers Purdy. 바카라 사이트淭hen in 2007 we discovered that the local shop, which had been around for 100 years, was going to close. It felt like the village was dying.바카라 사이트�
He arranged, via the Parish Council, for Norfolk Rural Community Council to facilitate a meeting about the shop바카라 사이트檚 future. About 70 people attended. A committee was formed, which then spent a year looking at, among other things, possible legal structures. 바카라 사이트淎 key consideration was that we needed to raise over 拢100,000, at least some of which would have to come from the village,바카라 사이트� explains Purdy. 바카라 사이트淭he CIC structure matched our needs exactly, allowing us to raise capital through selling shares while ensuring that the business was to be run for the benefit of the community.바카라 사이트�
In March 2009, Great Ryburgh became home to one of the UK바카라 사이트檚 200 community-owned shops, thanks to money raised through selling shares to 124 local residents, as well as loans and grants from the Plunkett Foundation, the Co-operative Fund and the Norfolk Community Foundation. In total, 拢130,000 was generated.
The new store sells local produce including organic free range eggs, malt beer, organic vegetables, fruit and fresh bread, as well as non-food items like the uniform for the local school. It also has a post office and a caf茅 with internet. Impressively, its weekly turnover is more than 拢3,000, whereas the previous shop took only a few hundred pounds each week.
Meanwhile, the local pub is now thriving, there바카라 사이트檚 a new butcher and the church is growing. 바카라 사이트淩yburgh has risen and is a great community again,바카라 사이트� says Purdy, who is a full-time army officer, as well as being managing director of the shop.
According to Purdy, the community interest company model works perfectly for them. 바카라 사이트淭he CIC allows us to pay a dividend, so shareholders can see some of the benefits in their pocket if we do well,바카라 사이트� he says. Purdy explains that the dividend is capped at a fairly low rate, which can be no more than 30 per cent of the shop바카라 사이트檚 net profit and no more than 5 per cent above the Bank of England base rate. It is more than a bank deposit account, but not sufficient to tempt speculative buyers or venture capitalist wanting to buy up huge chunks. 바카라 사이트淣o one has really invested with the hope of becoming rich,바카라 사이트� he adds. 바카라 사이트淭hey just want to be part of a healthy community.바카라 사이트�
| Name | Ryburgh Community Enterprise |
| Location | Great Ryburgh, Norfolk |
| Company structure | CIC limited by shares |
| Founded | 2004, became a CIC in 2006 |
| Community interest statement | To provide the whole area with local produce, a tea room, internet access, a home delivery service and a space for the sale of local arts and crafts. |