Could your community come together to create the next hospitality co-op?
Hospitality co-ops are showing resilience and doing the right thing by their communities through diversifying services and supporting staff, members, and customers.
In throughout what has been an extremely difficult time for the commercial hospitality sector, it has been reported that co-operative and community-owned pubs, bars, cafés and restaurants have been bearing up well throughout the pandemic in comparison. While there has been a 50% increase in the rate of closure in the commercial pub sector, 60% of community-owned pubs have managed to stay open implementing enterprising and innovative ways to both serve their communities and stay financially viable and competitive.
The co-operative hospitality sector has rallied round their communities, staff, members and customers by offering extra services such as takeaway and delivery services, meals on wheels, dementia support, sports clubs, arts and music venues and much more. This flexibility and ability to diversify has brought people from various ages, backgrounds and interests together and provided reason to interact and support each other.
Interest in community ownership has been increasing with communities looking to organisations such as Plunkett Foundation, Co-operative & Community Finance and Co-op Loan Fund for guidance, advice and supportive loan finance to create new opportunities for local involvement in community business.
Hospitality co-ops are also investing in staff and volunteers through training and peer support ensuring good governance and sustainable employment are integral to their business action plans.
Co-op Loan Fund has worked with and supported many fantastic hospitality co-ops over the years including The Royal Oak, Wild Thyme, Café Kino, Greenwich Co-operative Development Agency (GCDA), The Maybush Inn, The Spotted Cow, and The Globe.
Could your community come together to create the next hospitality co-op?
14 million people are members of a co‑op in the UK and you could be too. Join a co-op, support your community and be part of a movement that has the potential to change society for the better.
Coop Loan Fund provides unsecured loans to co-operatives with no personal guarantees up to £85,000 with ongoing advice and support and no set lending terms.
Unique lending: to co-ops, from co-ops.
