What are Village Companies?
A Village Company is a community-led organisation, which can own and manage assets and run its own social enterprises. Its objectives are to provide a focus foreconomic and community regeneration, to relieve unemployment and improve local services and amenities.
A key feature is that the community owns the village company. They own assets; they run trading companies, employ staff, manage accommodation and recruit volunteers. They can lever money in to help regenerate their communities. Any surpluses generated by their commercial activities are used for the benefit of the community.
A village company has a legal identity and typically the structure of an Industrial & Provident Society that combines the charitable status with a company that can trade. A voluntary Board of Directors manages it, a significant majority of whom are local residents. A village company is accountable to its members and a range of public bodies.
There are currently 6 village companies set up: -
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Bull Farm Enterprise & Regeneration Society Ltd (BEARS) |
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Elmton & Creswell Village Company |
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New Clipstone Forest Village Project |
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Shirebrook & Langwith Junction Enterprise Society Ltd |
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Warsop & Villages Enterprise Society Ltd (WAVES) |
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Whaley Thorns & Langwith Village Company |
