Czech delegation learn about Welsh social enterprises

Jakub Plojhar from the Czech delegation discusses social enterprise with Wales Co-operative Centre Board Member Wynne Evans

Earlier today, Catherine Evans, Wales Co-operative Centre Marketing Manager, accompanied a delegation from the Czech Republic on a visit to Cardiff social enterprise Vision 21. Here’s her story…

I’m just back from spending the morning with a group of visitors from the Czech Republic. They’ve spent the week in Wales to find out about social enterprise. I went with them to Vision 21 in Cardiff, a social enterprise which provides training and work to people with disabilities.

The Czech Republic has a well developed tradition of
co-operatives, stemming back 160 years. Agriculture and housing are two sectors which are largely based on
co-operative models. However, the concept of social enterprise is much less well known, and the group (which included people from the South Bohemian Chamber of Commerce, a university economics department, local government and civic bodies) had come to Wales to find out more about how social enterprises can provide employment for people who are furthest from the main-stream labour market.Vision 21 was founded in 1987 and currently provides over 350 student placements each week. It has 16 different social enterprises to support training into the world of work and further learning for people with differing needs and styles. Its projects provide the students with the opportunity to broaden their life skills in real work settings.The building which I visited with the delegation from the Czech Republic was the Sbectrwm Centre in Fairwater, Cardiff.

The morning began with a tour of Sbectrwm led by Diana O’Keefe, manager of Vision 21’s ICT training project. Delegates were shown the pottery workshop, the community garden and the café, and had a chance to talk to some of the students based at the Centre.They then heard from Diana about the way in which Vision 21 works with people who have a wide variety of physical, emotional and social needs. It was interesting to learn how the organisation teaches soft skills – such as time management, self confidence and working independently – as well as basic literacy, numeracy and IT skills, and vocational skills.

Rhian Edwards from the Wales Co-operative Centre spoke about the co-operative and social enterprise sector in Wales, and explained how the economic challenges facing Wales are often best tackled by social enterprise and co-operative solutions. She highlighted the huge variety of sectors where co-operatives and social enterprises are thriving.

Simon Harris, Wales Director of Business in the Community, discussed the way in which the private sector can play a role in society by adopting responsible business practices. He outlined four pillars of responsible business – care for employees, care for the community, care for the environment, and responsible supply chains.

The Czech delegates asked plenty of questions about how social enterprise is supported and its relationship to government bodies. They were also curious about Wales’s relationship with the European Union, and the level of EU support for social enterprise.

It was a fascinating morning and great to showcase one of Wales’s best known social enterprises to an international audience.

Newport residents invited to participate in Co-operative Housing survey

The Seren Group, which includes Charter Housing, is considering developing co-operative housing on part of the old Pirelli Factory site, just off Corporation Road in Maindee. Before the group moves forward with this idea, it needs to find out whether Newport residents would be interested in living in co-operative housing. Seren is working with the Wales Co-operative Centre and the Chartered Institute of Housing to identify whether there is any demand for this form of housing in the City.

What is co-operative housing?

Co-operative housing is a form of housing where members (either tenants or owners) democratically control and manage their homes and play an active role in the life of the communities they live in. Co-operative housing is very common in other parts of Europe. There are a number of different types of co-operative housing, either for rent or for sale but they have one fundamental thing in common: they put democracy and community ownership at the heart of housing.

Some of the advantages of co-operative housing are:-

• An affordable form of home ownership

• A democratic and safe community

• Long term financing and security

• Flexible to meet occupiers needs

• Potential of shared benefits of communal energy

What is the plan for co-operative housing in Newport?

Seren’s plan for the old Pirelli site is to create a community of around 200 homes which will be a mix of homes for rent and to buy. The vision is of an ‘urban village’; bringing the community benefits of village life to the heart of the City. Seren would like to include an area of co-operative housing in this development, if there are enough people interested.

Why are we reaching out to you and what should you do next?

We are trying to find out whether you are interested in knowing more about the development of the Pirelli site and whether you are interested in being a part of the co-operative Seren wants to support on the site.

If you are interested in finding out more, please go online using this web address

https://www.surveymonkey.com/s/co-operativehousinginnewport.

You’ll be asked to answer a few questions about yourself, your family, your current housing situation and to provide your contact details.

We will then write to you with more information about co-operative housing and an invitation to attend an event to tell you more about Seren’s plan and the types of co-operative housing that may be possible.

If you have any questions about this matter, please contact Dave Palmer from the Wales Co-operative Centre on 029 2055 6169.

Thank you.

Swansea social enterprise celebrates winning prestigious procurement award

Swansea training and consultation co-operative, Dynamix has won a prestigious award for procurement at the Welsh National Procurement Awards in Deganwy, North Wales.

The procurement awards aim to highlight the good practice of both procurement teams who purchase services and goods for the public sector, and the businesses that supply them. Dynamix won the ‘Most Improved Supplier Award’ at the ceremony which recognises a supplier who has made use of the support services to improve their tendering methods and thereby improved their chances of winning public sector contracts.

Amy Sanders

Dynamix was set up in Swansea 23 years ago and has built up a reputation for working with children, young people and adult community members and the professionals that support these groups.

Amy Sanders is one of the directors of Dynamix. She commented,

“The decision to give the award to Dynamix is a tremendous opportunity to both shine a light on social enterprises and how they can make a meaningful contribution to supply services to local authorities and public bodies.

With such a thriving social enterprise sector in Wales, we believe that a social enterprise succeeding in the Procurement Awards is a sign that the proportion of services supplied to the public sector by social enterprises is growing. Social Enterprises need to be recognised for the additional benefits they bring to the public sector. As award recipients, Dynamix hope we can continue to advise how procurement can be done in a way that values social enterprises and does not disadvantage them.

The tendering process is seen as such an obstacle for some social enterprises and Dynamix are so proud that we have been recognised for the enormous hard work we have invested in order to be able to meet the exacting requirements so that we can compete on an equal playing field. It has really paid off in Dynamix’s ability to secure significant contracts and broaden our work.”

And the winners are…

North Wales Social Enterprises scoop the 2012 Social Enterprise Awards Wales

Three North Wales social enterprises have won categories in this years Social Enterprise Wales Awards which took place today (Friday 19^th October) at the Scala Cinema and Arts Centre in Prestatyn.

The awards were hosted by Wales Co-operative Centre and Wales Social Enterprise Coalition and was sponsored by not for profit internet registry company Nominet.

The full list of winners reads as follows:

Kelly Davies, Managing Director, Viability, Conwy; winner of the Social Enterprise Leader of the Year award with Wales  Co-operative Centre Chief Executive Derek Walker

Social Enterprise Leader of the Year 

Kelly Davies of Vi-ability

Kelly Davies has been Managing Director of Vi-ability for nearly three years. Kelly has succeeded in positioning Vi-ability as one of the leading personal development/employment facing sport industry programmes in UK and Europe for socially disadvantaged participants It produces consistently positive outcomes in relation to engagement, retention and progression.

Kelly was delighted to win the award, “I’m overwhelmed! I really didn’t expect to win after our success in these Awards last year. It shows that we haven’t stood still and we’re still doing something right!”

Wales Co-operative Centre Chief Executive Derek Walker, with Mac McCarthy and Barry Roberts from the North Wales Credit Union, Social Enterprise Start Up of the Year Winner

Social Enterprise  Start up of the Year – North Wales Credit Union

North Wales Credit Union is a financial co-operative which provides a wide range of ethical financial services across North Wales. Regulated by the Financial Services Authority, it is the fourth largest financial mutual in Wales. It was formed in January 2011 through the merger of five credit unions. Since then it has been  looked to as a model of excellence by credit unions and policymakers from across the UK.

Mac McCarthym from the North Wales Credit Union, commented, ”Wow! From our persepective, this award is fantastic. Creating North Wales Credit Union took 18 months of really hard work by both staff and volunteers, and we’re accepting this Award on their behalf.”

Social Enterprise Supporter of the Year – St Illtyd’s Communities First Partnership

Anna Chard, St Illtyds Communities First Partnership, Abertillery, Social Enterprise Supporter of the Year Winner, Wales Co-operative Centre Operations Director Nia Wright Morgan and Wales Co-operative Centre Chief Executive Derek Walker

St Illtyds Communities First is part of a Welsh Government anti-poverty campaign which has been established for 10 years.  The team consists of 5 individuals who are dedicated to supporting and encouraging initiatives that make positive changes to the social economy. They work in Llanhilleth Institute supporting communities from Brynithel, Swffryd, Aberbeeg and Llanhilleth. St Illtyd’s Communities First has been responsible for starting up and supporting 3 social enterprises and creating 16 jobs in a socially deprived area of Wales.

Anna Chard from St Illtyd’s Communities First Partnership stated, ”Its a real honour to accept this Award on behalf of the Communities First Partnership Board, the staff team and the social enterprises we support.”

Social Enterprise Supporter of the Year – Special Mention

The City & County of Swansea, Housing Renewals & Adaptations Department was singled out for a special mention as an example of a Local Authority who have made a major contribution to supporting the development of a social enterprise. City & County of Swansea has provided support and been available to reflect, counsel and steer changes to other organisations that resulted in the development of social enterprises such as Swansea Care & Repair Services.

Sharon Jones, Chief Executive , Crest Co-operative ,Llandudno Junction, Social Enterprise of the Year Winner with Wales Co-operative Centre Operations Director Nia Wright Morgan

Social Enterprise of the Year – Crest Co-operative

Crest Co-operative operates a number of recycling enterprises including , a food poverty project that distributes in-date food from food manufacturers to the homeless and vulnerable across North Wales; a textile recycling operation throughout Conwy County Borough Council; and finally Crest Co-operative work with North Wales housing associations to clear empty properties and save kitchens/bathrooms from landfill. Crest Co-operative’s work primarily focuses on social and environmental purposes, working to promote social inclusion and at the same time work to save materials and food from landfill. Sharon Jones from Crest Co-operative recieved the award,  ”I’m speechless. This is a real surprise and its great to win such as prestigious award.”

Wales Co-operative Centre Chief Executive Derek Walker commented, “The quality of nominations this year demonstrated not only the breadth and versatility of the sector but the importance the sector has to communities across Wales. The judges this year had a tough task deciding between a number of very dedicated people and a number of extremely deserving nominees. The winners chosen demonstrate an impressive  commitment to their area of expertise and a level of service that is outstanding. We congratulate Crest Co-operative, St Illtyd’s Communities First Partnership, North Wales Credit Union and Kelly Davies and all of the other excellent social enterprises who were shortlisted.”

Not for profit Internet registry company Nominet sponsoredthe Social Enterprise Awards Wales 2012. Nominet run one of the world’s largest Internet registries and manage over ten million domain names. They are entrusted with the safe, stable and secure management of the .uk Internet name space and recently submitted applications for the new .cymru and .wales top level domains. For more information visit www.nominet.org.uk

Marketing businesses shine together – under one umbrella

A group of three successful business people are coming together under the umbrella of a new co-operative company. ‘That Useful Company’ will be launched at the Business Network Exhibition at the Vale Resort in Cardiff (Thursday 4^th October). The three Swansea-based colleagues, who each work as individual businesses, have formed a consortium to deliver a wide range of bespoke marketing services to clients across Wales. ‘That Useful Company’ was created as a means of allowing the individual members to tender for larger contracts and to offer a wider range of services to their existing customers.  

Marketing services under one umbrella – That Useful Company and Sarah Owens from Wales Co-operative Centre

Support for That Useful Company has come from the Wales Co-operative Centre, funded through the European Regional Development Fund and Welsh Government. The Wales Co-operative Centre’s Consortia development team worked with the members of That Useful Company to form their aims and objectives and to incorporate the business. The three members of That Useful Company, Natalie Reynolds, Ben Wheeler and Matthew Pugh, chose a consortium approach as it allows the individual businesses to operate independently and maintain their own identity, but also to collaborate and work for larger clients to help grow their businesses. That Useful Company will be able to offer an integrated range of marketing services including marketing strategy, social media, web design, branding, email marketing and print.

Natalie Reynolds, who runs a successful social media business explained why she chose this approach, ‘After seeing my business grow rapidly in just 18 months I was often asked how I would grow my business further, however employing staff didn’t seem the most appropriate option as  the services that I provide are based on my experience.  Instead I chose to get a group of marketing professionals together to see if we could collaborate, providing support and sharing our experiences to enhance the services we offer our clients.  We worked with the Wales Co-operative Centre to put a formal structure to our group with the intention of pitching for larger contracts to help expand our individual businesses’.

Ben Wheeler is a website designer and software developer. He remarked, ‘I’ve worked for myself and built a successful business over the last 4 years; but when I was approached about collaborating with other individuals to be able to work for larger clients and share resources while still being able to keep my own business identity and clients as well, I thought the idea was fantastic and suited my growth plans well. The Wales Co-operative Centre has been excellent in supporting us to achieve this’.

Matthew Pugh’s expertise in design and print had led him to work with Natalie and Ben on several occasions before joining them in forming the consortium, ‘Having worked collaboratively with Ben and Nat for clients it seemed to be the logical step forward for my business to work within this new company. A specifically created cooperative between us gives us all greater weight when approaching larger clients and as a cooperative group we are able to support each others individual businesses and maintain the identity of our own companies. That Useful Company enables us to offer a greater range of benefits and services to existing clients and also gives greater stability and security to my individual company in the future”.

Marketing consortium. (L-r) Ben Wheeler, Matthew Pugh and Natalie Reynolds

The consortium was formed from a group of friends and colleagues developed through small business network events. Fittingly, the consortium’s first large piece of work is for a business network. That Useful Company ran the marketing campaign the Business Network Exhibition– managing the branding, website, flyers, newspaper advertising, social media stream and Facebook data capture.

Sarah Owens, the Development Officer who worked with That Useful Company from its initial meeting through to its incorporation as a company limited by shares stated, ‘It was great to work with the creative team at That Useful Company. Natalie, Ben and Matthew have an innovative approach to growing their business which builds on their individual strengths and allows them to continue to develop their own businesses independently of the consortium’.

Wales Co-operative Centre Business Succession and Consortia Project Manager Rhian Edwards commented,

‘Wales is dependent on its micro business sector. The sector accounts for 94.5% of all businesses in Wales. The Micro Business Task and Finish Group Report supported the consortia approach to give micro businesses better access to public sector procurement opportunities. The launch of ‘That Useful Company’ demonstrates the ambition within the Welsh micro-business sector to grow and expand and to service larger contracts and we wish Natalie, Ben and Matthew the best of luck with this new venture’.

Further information on the benefits of consortia for business are available on the Wales Co-operative Centre’s website www.walescooperative.org. Find out more about That Useful Company at www.thatusefulcompany.co.uk from Thursday.

Becoming a member of the Wales Co-operative Centre is now quicker and easier than ever!

You can now join the Centre online, by simply completing your membership form on our website. After submitting your completed form you will be forwarded to our secure online payment provider SagePay to pay your £1 share payment.

Our membership scheme seeks to develop a community of like minded individuals and businesses  who are passionate about the benefits of working co-operatively.

Centre membership will allow you to have your say in how the Centre is run, by attending and voting at our AGM and participating in our annual members’ survey. You will also have the opportunity to meet some of the organisations that we have supported.

2012 is a landmark year for the Wales Co-operative Centre and the Co-operative sector as a whole. As a member you will have the opportunity to be involved in a range of events to celebrate the Centre’s 30th anniversary and the UN International Year of Co-operatives.

Who can join?

Membership is open to anyone who is committed to co-operative principles and values and wants to be a part of an organisation that strives to achieve positive social and economic change.

To find out more please visit www.walescooperative.org/membership

Credit union reforms mean expansion and competing with banks

New powers for credit unions in England, Scotland and Wales will, from today, enable them to significantly expand the services they offer, and to compete directly with high street banks and other savings providers.

The changes, under a Legislative Reform Order (LRO), mean the financial co-operatives can now pay interest on savings for the first time and expand beyond their traditional customer base.

Credit unions are not-for-profit organisations owned by their members.

The reforms will allow them to provide services to community groups, businesses and social enterprises.

Robert Kelly, general manager of the NHS Credit Union for Scotland and the North of England, said: “The LRO is going to give us the opportunity to get closer to offering full services that are equitable and can compete with mainstream financial institutions like banks and building societies.

“It also gives us more potential for partnerships with a wide range of other organisations.”

The Association of British Credit Unions (Abcul) expects membership to increase as a result of the changes, which the UK government introduced as part of a commitment to promote mutuals.

There are currently about 420 credit unions across England, Scotland and Wales, with close to one million members.

The changes are designed to help individuals, businesses and other organisations access fair and affordable financial services in their communities. They will allow credit unions to provide a more effective alternative to high street banks on the one hand and high cost lenders and loan sharks on the other.

Common link restriction lifted 

Until now, credit unions have been hampered by restrictions which meant all of their members had to have something in common – such as living in the same geographical area or working for the same employer.

Credit unions no longer need to prove that all the eligible members have something in common, which will mean that credit union services can be extended to new groups much more easily. For instance, a credit union providing services to anyone living or working in Pontefract will now be able to serve all the employees of a company too, even if they do not live or work in Pontefract.

Interest on savings, not dividends

Previously, credit unions could not pay interest on savings, only a retrospective dividend. Credit unions will now be able to begin to pay interest on savings, which will mean that people will be able to more easily compare the rates of return with other savings providers and it will help credit unions attract more savers.

Organisations can join a credit union

Under the old rules, only individuals were able to become members of credit unions. The new rules mean that organisations themselves can join a credit union (up to a maximum of 10% of the members) and use the financial services it provides. A community group, housing association or local employer, for example, may now be able to use a credit union to manage its money, with the added advantage that the money is kept in the community.

Credit unions can now compete with banks

Mark Lyonette, chief executive of the Association of British Credit Unions (Abcul), said: “These changes are a major breakthrough in the delivery of credit union services to communities around Britain. The new rules mean credit unions can now compete more effectively with banks and other lenders to provide fair and affordable financial services. Credit unions will be able to reach many more people, helping them to develop a savings habit, which can only be good for communities.”

More information

• Credit unions explained – the Which? guide to credit unions
• Government commits more money to credit unions – £73 million to fund the expansion of credit unions

Source: Which?, BBC News

Find out more about credit unions in Wales.

Crest Co-operative honoured for changing lives at Morgan Foundation Awards

A social enterprise has been honoured for enhancing the quality of life of hundreds of North Wales residents.

Crest Co-operative in Llandudno Junction scooped a cash prize of £5, 000 at the Morgan Foundation awards and was named runner up in the Best Entrepreneurial Charity and Social Enterprise category. Staff travelled to Cheshire to take part in the ceremony earlier this month.

The awards target inspirational non-profit organisations and charities across North Wales, Merseyside, West Cheshire and North Shropshire.

Crest was established in 1998 and has since worked to support some of the most vulnerable and disadvantaged people in North Wales. Over more than 10 years support staff at Crest, have helped more than 900 unemployed Conwy and Denbighshire residents find jobs in the local community.

Jeff Warren, assistant director at Crest Co-operative, said: “It is a great honour to be recognised in such a prestigious awards ceremony. Crest works at the heart of the community to improve the lives of local people.

“The award reflects the hard work of the dedicated team of staff at Crest and our volunteers. They are committed to improving the lives of our unemployed, disadvantaged and vulnerable service users.”

Crest has helped more than 900 people to find jobs in the local community over the last 10 years, has provided more than 60, 000 hours of voluntary work and diverted 55, 000 tonnes of re-useable waste from going to landfill.

The funds will be ploughed back into the non-profit organisation to create more work placements for the unemployed and adults with learning disabilities.

Steve Morgan, founder of the Morgan Foundation, said: “What continues to impress me is the vast amount of voluntary work that goes on in our communities and the number of people helping others.

“We recognise projects that enhance the quality of life for people in the region, particularly those suffering from disability or disadvantage,” he added.

The Wales Co-operative Centre provides advice and support to social enterprises and co-operatives, including Crest Co-operative, within the Convergence area of Wales.

Wales Co-operative Centre Chief Executive calls for business owners to consider employee ownership options

With the new series of Baker Boy’s hitting our screens, Wales Co-operative Centre Chief Executive, Derek Walker, calls for business owners to consider employee ownership as a realistic option for business succession.

 The eagerly awaited new series of Baker Boy’s has returned to BBC Wales. The drama that focuses on a fictional worker co-operative in the Valleys offers a warts ‘n’ all insight into the benefits and hardships that a worker buy out or worker co-operative offers. All is not looking good for Valley’s Bara, the bakery taken over by its employees in the first series. The business is struggling, their key investor has disappeared, there is dissention in the ranks, cash flow issues, customer relationships, and the ongoing search for new business. But it was never going to be an easy ride.

This is often the reality of a new business. Whether the business is created by a single investor, a partnership or is owned by its employees like Valleys Bara there will always be business challenges to live up to. The hard work, sweat and sometimes, tears are the building blocks of security and future success and this is the reason that both business owners and employee groups should consider employee ownership options and opportunities for the future of their companies.

In Valley Bara’s case, the owners closed the factory and the employees bought it out as an emergency measure. This is achievable in some circumstances but considering employee ownership as a planned exit strategy may be a more considered approach for many business owners and a more attractive choice than redundancy for their employees.

Federation of Small Business research shows that the average business owner in Wales stays with his or her business significantly longer than in the UK as a whole. Over 1 in 5 business owners have been involved with their businesses for 21 years or more. Business owners expecting a trade sale to materialise out of nowhere to fulfil their retirement plans may be in for a nasty surprise in the current climate.

Employee ownership is not an altruistic option though. It can ensure a fair price for the company and can offer several options for phased withdrawal. Employee Ownership has been proven to increase employee commitment to the organisation, ensure more security for both the businesses and the employees. It guarantees the business is in the safe hands of people who know the business and care about it.

At the Wales Co-operative Centre we are often asked how worker co-operatives and employee owned businesses can work. After all, they are democratic, they are focussed on the interests of a major stakeholder group, the employees, who have a vested interest in the day to day running of the company and they are inclusive. How are decisions ever made? The fact is that employee owned businesses still need an effective management structure to run the business on a day to day basis. The owner employees make strategic decisions at specific times such as AGM’s and quarterly meetings depending on the set up of the company. But operational, marketing and financial decisions still need to be made by the relevant officers with responsibility for that area. Worker co-operatives or employee owned businesses are businesses just like any other. The only difference is that the benefits of a successful business are shared by a wider circle of people within the business.

The employees of Primepac Solutions in Ebbw Vale created their business in October 2005 after their parent company pulled out of South Wales. The 19 members of the worker co-operative had to be involved in every aspect of the business – they even scrubbed the floors of their new premises to get it ready for production. They now employ 22 permanent staff and up to 20 temporary staff at their site in Ebbw Vale in a business with a turnover of £1.8 million. In Aberystwyth, the owners of biotechnology instrumentation company Aber Instruments decided to look at employee ownership as a phased exit strategy. Now, 10 years into the process the original owners are minor stakeholders and the employees own a large share of the business with the remaining shares in trust for future ownership and to allow future employees the chance to have a stake in the business.

Of course, employee ownership isn’t just limited to micro businesses and SME’s. The Co-operative Retail Group and John Lewis have outlets all across the UK, turning over nearly £20billion of business between them.

Think about it. If everyone had a share in the business, wouldn’t everyone want it to achieve more? More turnover, more sales – more profit?

Of course, back at Valleys Bara, Owen and the rest of the employees have to deal with the day-to-day issues and the effects they have on their relationships and their families. Hopefully, over the three episodes we will see the employees at Valleys Bara make their enterprise work.

The Wales Co-operative Centre has set up a project with Welsh Government and European Union backing to support business owners and employee groups develop employee ownership approaches. Our advisors work with both parties to ensure that the process is fair for both the owner and the employees. We offer support to employees on their journey from the initial formation of a buyer group to management support throughout the first months of the new business. Click here for more information on how the Wales Co-operative Centre can help with employee buyouts, exit planning and worker co-operatives.

To give the story impact the scriptwriters pit the Valleys Bara employees against some big business challenges. Fiction needs drama to make it interesting. However, in real life, the Wales Co-operative Centre can be there to support employee buyout teams and worker co-operatives to minimise the drama that they face on a day to day basis. We can help to take the crises out of the drama.

Derek Walker is Chief Executive of the Wales Co-operative Centre.

The Wales Co-operative Centre is a development agency which champions co-operatives and co-operative working, believing co-operation can be a powerful driver in business success, innovation and social change.

This article first appeared in the Western Mail on Thursday 24th November.

Guess who’s back? Tough decisions for the Baker Boy’s

So the wanderer returns. Rob is back and this time he really does mean business.

This first episode is set just six weeks after the end of the last series and it demonstrates that the early days of any business – whether they are a start-up SME or an employee owned enterprise – can be tough. It is essential for every business to have a strong business plan that can ensure their survival in the event of the loss of a major customer (as it looks like Valleys Bara has lost Capaldi’s tonight).

The episode begins to address some of the major issues that worker owned businesses need to consider: shares, ownership, management structure, succession and the effect the decision to buy out a firm could have on family and friends.

Dave and Lucy’s debt situation is a sadly accurate depiction of the sort of financial problems we can find ourselves slipping in to all too easily. Although the obvious advice here is never to use payday loans where the interest rates are astronomical there are other alternatives. In Wales, it is possible to access credit union services, no matter where we live or work. Credit unions work with their customers, who become members, to help them manage their money whatever level of income they have or whether they are having financial problems or not. People save and borrow at reasonable rates with the emphasis on flexibility and  affordability. For some people going to their credit union for a loan, in desperation, when they have money worries, leads to a whole series of advice and support that means that borrowing isn’t necessary. Specialists in advice such as the Citizens Advice Bureau work closely with credit unions so it can be a gateway to the solutions that Dave and Lucy need to find.

Click here for further information on the Wales Co-operative Centre’s work on Financial Inclusion

This episode is all about independence and standing up for yourself on your own. Nathan’s independence from his Dad. Sarah’s independence from Rob and Owen, Dave and Lucy’s financial independence. And, of course, Valley Bara’s independence as a business and as a focus for a community.

For more information on how the Wales Co-operative Centre can help with employee ownership and co-operative development in your communities, click here.

The Wales Co-operative Centre was set up thirty years ago and ever since we’ve been helping businesses grow, people to find work and communities to tackle the issues that matter to them.  Our advisors work co-operatively across Wales, providing expert, flexible and reliable support to develop sustainable businesses and strong, inclusive communities.

Missed this episode? Watch it on BBC iPlayer here