Community pub sector reports 30% growth and 100% survival rate

Local pubs owned as community businesses are continuing to thrive, with 30% growth and a 100% survival rate in the sector, according to a report from the Plunkett Foundation, the representative body for almost 600 rural community businesses trading across the UK.

The ‘Better form of Business’ report was funded by Power to Change, the independent trust supporting community businesses in England. It shows that at the end of 2017, no community pubs had ceased trading, maintaining a 100% survival rate – and that the sector had grown by 30%, with 14 new pubs opening during the year. [...]

According to the report,  74% of all start-up costs during 2017 were sourced from community shares. The majority of the 14 community pubs to open that year also used grant capital available under the More Than a Pub programme, which provides funding towards start-up costs, as well as dedicated loans and grants. The programme will close in March 2019 and a new £2.2 million programme, backed by the Plunkett Foundation and  Power to Change, will be active from summer 2019.

Read the rest at Co-operative News

 

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