Money Matters: Community share issue saves local pub; first chief exec for Welsh Social Enterprise Coalition

David Ainsworth's round-up of what's happening in the finance world.

A community near Richmond in North Yorkshire has used a community share issue to save its local pub from shutting down. The Hudswell Community Pub initiative involved more than 150 local people investing at least £500 each in an industrial and provident society to take over the George and Dragon.

The Welsh Social Enterprise Coalition has appointed its first chief executive. The post will be taken by John Bennett, chief executive of Pack-IT, a small social enterprise based in Cardiff that provides storage and mailing services. The coalition was set up earlier this year with funding of £700,000, to be provided by the Welsh Assembly over the next four years.

Twenty areas have been chosen where third sector organisations will receive strategic support to help them take over public sector buildings. The Advancing Assets for Communities programme, funded by the Communities and Local Government department, has run annually for four years. It is delivered by a consortium led by the Development Trusts Association.

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