Cooperative model works for this Clevedon book shop

A great story from the South West on how the cooperative model can work.

Local residents registered as a co-operative and launched a community share issue to find the £20,000 needed to save a bookshop from closure.

 For fourteen years, the bookstore in Clevedon, North Somerset,just 100 metres from the promenade,has been a popular destination for book lovers to browse in the Victorian seaside town. However, the retirement of its owner had threatened to close it. 

Now, approaching 300 members have invested at least £10 to become ‘co-owners’ of Clevedon Community Bookshop Co-operative (CCBC), joining the growing ranks of those challenging the orthodoxy that the role of business is solely the relentless pursuit of profit.

 Over recent weeks, the shop has felt the benefit of community co-operation with volunteers and members carrying out painting, decorating, carpentry and other tasks needed to ready the shop for its re-opening, which takes place between 12 (noon) and 4pm on 31 December 2011.

Angela Everitt, Secretary of CCBC, said: “We’ve have been overwhelmed by the support that we have received. Our aim was to attract a large number of investors who, as co-owners, will have a say in how the enterprise is run. More than 250 people invested from just £10 to raise a total of £7,500 which, coupled with loan money and grants, has enabled the community to save this store.

She added that  “Members and volunteers have worked hard to refurbish the store, new flooring has gone down and the final task will be to stock our great new bookcases. We hope that members and customers alike will join us on New Year’s Eve and, this also gives any last minute investors a chance to drop off their applications.”

A great story

Latest economic survey for Manchester suggests we are holding on

Greater Manchester region is performing well against the backdrop of gloomy domestic and Eurozone outlooks according to the latest report from the City's Chamber of Commerce.

The survey in which a total of 827 businesses from across Greater Manchester this quarter, found that though there has been a slight easing of demand, this has not dramatically fallen away since the Q3 survey and, as a consequence, confidence has eased but remains positive.

Understandably, says the Chamber, given the uncertainty, investment has also eased, but again it remains positive and it is investment in people that is strongest.

With the capacity to deliver growth, they add, the region is both well placed and showing the resilience to respond to the current economic challenges.

In manufacturing,the sector measures saw continued growth in the domestic market at the same level as the previous quarter,though there has been an easing of export demand.

The sector continues to see growth, albeit easing slightly over recent months.

Construction firms have had better quarter with domestic demand starting to grow again after a flat previous quarter.

In the services sector,demand is now flat after falling across the previous quarter.

The chamber welcomes the actions of the chancellor in last month's fiscal statement.particularly that more has been done to support exporters to access
emerging markets

It also welcomed that the statement had put in place the plans for infrastructure investment which it says will be a key element of driving demand in the region’s economy and establishing the longer term attractiveness of the region
for inward investment.

Manchester is named one of eight core cities to be given extra powers

Eight core cities,Manchester among them are to be helped through new “city deals” in which they will get greater control over the money they receive from central Government.

Plans announced this morning by the Deputy Prime Minister Nick Clegg,will allow councils to borrow for the first time against future tax receipts from business rates through a new Tax Increment Financing scheme.

Manchester joins Birmingham, Bristol, Leeds, Liverpool, Newcastle, Nottingham, and Sheffield,in being piloted for this scheme details of which are expected to be published in a new Local Government Finance Bill in the next two weeks, with the powers in place by April 2013.

The new bill is expected to include giving each city a consolidated capital pot to spend "as they see fit" and allowing councils to take out bank loans on future developments - such as shopping centres or business parks that are expected to generate significant revenue - to pay for the investment work.

Commenting on the scheme,Nick Clegg said:

"Cities are the engines of economic growth. Whitehall should not be like an overbearing parent, throwing money at cities but refusing to let them stand on their own two feet. So we will have a bonfire of Whitehall controls to empower our cities to go for growth.

"We need our cities to be economic, social and cultural magnets - places people aspire to live. Firstly, cities will have greater freedom to invest in growth. Secondly, having power over transport, housing, broadband. Finally, the power to boost skills and jobs.

"Our cities have been straining at Whitehall's leash. They now have a once in a generation opportunity. I urge them to seize it and make it count."

However Hilary Benn MP, Labour’s Shadow Communities Secretary has described the scheme as a smokescreen for further big cuts to council funding being announced today by the Tory-led Government.

"These will particularly hit the most disadvantaged communities in England, which have already seen bigger cuts than less deprived areas. With local council jobs going – affecting twice as many women as men - cutting too far and too fast is forcing local authorities around the country to cut frontline services on which both residents and business depend. With all this happening, Nick Clegg's out of touch claim to be giving our big cities the key to their future is so hollow as to be meaningless."

Manchester firms under financial stress

Businesses in the North West are suffering more than most from financial stress according to a quarterly report by Manchester-based insolvency specialist Begbies Traynor.

Business Desk reports this morning that 11,057 firms are now showing "significant" or "critical" signs of financial stress a 12% increase on the second quarter.

The North South divide is also showing up in the figures as in London and the South East, the number of firms indicating signs of financial stress declined by 6% and 3% respectively.

Manchester,says the report has been particularly hard hit as the hotel and accommodation sector is under particular pressure, with a 56% rise in significant problems over the last quarter.

Manchester remains amongst top European cities in Cushman & Wakefield's annual monitor

In total 501 companies were surveyed from nine European countries and whilst Manchester has slipped slightly in some of the categories, it appears to be firmly reinforcing its position as a contender on a European level.

Manchester rose four places in terms of languages spoken in the city, which together with its excellent working environment for employees and internal transport links and infrastructure means that international businesses are keen to expand in to the city.

More information HERE

What can Manchester teach the Tories about the economy?

Great piece by Julian Dobson on his living with rats blog on what the local Manchester economy could teach the Tories.

Quite rightly Julian points out that

outside the retail Mecca of the city centre, much of Manchester has never felt the benefits of that credit-driven and publicly funded resurgence. One Mancunian friend lamented to me the other week that people's aspirations were so low that during the summer riots they looted the pound shops.

Whether Julian's solutions to our local economy are correct,I am not so sure.

Don't get me wrong,the strategic aims are good but investing in technologies, design and ways of behaviour that both reduce the environmentally damaging effects of the city are not going to create wealth in the amounts that we need to bring these communities back on board.

The reason that these initiatives fizzle out is that no local political leader is going to stand up,put his or her hand in the air and say vote for me because I am going to make your economic circumstances worse than last year.

I don't profess to know the answer.I understand that it growth needs to be our secondary motive but how you get form where we are today to this ideal without causing major social upheaval is beyond me

Manchester City Centre-where legions are paid to sell you stuff you don't need

Whilst Zoe Williams' article in the Guardian smacks of everything that is wrong when your parachute a London Hack into a Northern City,her analysis of Manchester's economy is spot on

if it's a jewel in the free market crown, untouched by consumer slump, it also represents neatly everything that's wrong with the economy: the endless Keynesian circle-jerk, where legions of people are paid to sell you stuff you don't need so they can buy stuff they don't need and as long as you have your head above the water, it doesn't matter if a shark is about to eat you.

As Daniel Bentley tweeted to me earlier

Shop staff on minimum wage plus commission selling designer clobber to footballers, WAGs and Spinningfields bankers