Scheme gets funded for another three years
A funding scheme supporting communities to own local assets is to continue after three years of success.
Development Trusts Association Scotland (DTA Scotland) has been given the green light to continue to operate its Community Shares Scotland programme for a further three year period after being given over £800,000 from the Scottish Government and Big Lottery Fund Scotland.
Community Shares is a mechanism for raising finance and social investment and has supported well-known community ventures like the community buy-out of Portpatrick Harbour and the Glenwyvis Distillery project.
So far it has provided direct support to 88 community groups and organisations, completed 14 separated share offers and helped raise over £8 million in share capital.
DTA Scotland director Ian Cooke said: “DTA Scotland is delighted that the Scottish Government and Big Lottery Fund have agreed to support the next phase of the Community Shares Scotland Programme.
“With a number of innovative and exciting community share issues already in the pipeline, this investment represents a strong commitment to community shares and the contribution which they can make towards empowering communities throughout Scotland.”
Jeane Freeman, minister for social security, said: “For more than a decade the Scottish Government has worked collaboratively to establish a world-class system of support for social enterprise and we are recognised as a world-leader in that.
“Just this year we published Scotland’s first-ever Social Enterprise Strategy – however, I am determined we do more.
“This funding will help more social enterprises have the chance to achieve their full potential. I am excited to see the great results that can secure and the communities it will benefit.”
