The UK’s first community owned hardware store and community hub.
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Havards Store, a traditional ironmongers in Newport, Pembrokeshire, faced permanent closure in 2021. But the community rallied together, proposing a buyout. 100% of attendees supported the idea and over £260k was pledged.
Havards Store is a traditional ironmongers shop that has been serving the people of Newport, Pembrokeshire since the early 1800s. The shop is a much loved local institution, offering a diverse range of products from lightbulbs to birdseeds and drawing customers in from far and wide. Unfortunately, in 2021, the store faced the possibility of permanent closure, with the owner struggling to find a buyer. In response, community members banded together, organised a public meeting and proposed a community buyout. The idea was met with resounding support. 100% of attendees backed the proposal and pledges totalling over £260,000 were made.
Funding the project:
The community rallied behind Havards, raising an impressive £445,000 through a Community share offer. This show of support made a compelling case for additional funding, resulting in £200,000 capital funding from the Community Ownership Fund and a further £30,000 in revenue funding. With these funds, the group was able to secure the building and implement changes to make the business more resilient. Staff costs were also covered for the first year, establishing a solid foundation and ensuring long-term sustainability.
Getting the right support
Cwmpas (an official support partner of the Community Ownership Fund) helped the team develop their business plan and standard mark assessment, establish their CBS, and provided advice on the share prospectus and fundraising. They also offered guidance on appropriate business structures, environmental and sustainability policies. Cwmpas' support was crucial to the success of the share offer and setting the community shop on a sustainable path.
Advice for other groups
The Havards store team’s advice for people applying for the community ownership fund is:
- To seek support early from experienced organisation like Cwmpas
- To read the Community Ownership Fund prospectus carefully.
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