Exchange became a Community Benefit Society in 2018, after the highly successful #SaveExchange campaign. Thanks to our 500 members, and support from other venues such as Le Pub, Komedia and The Bell, as well as national organisations such as the Music Venues Trust, the share issue for Exchange was successful in raising £300,000, making it Bristol’s first community owned Live Music Venue.
A Community Benefit Society is a not-for-profit business structure that is owned and democratically controlled by the community it serves. Since becoming a CBS, we have followed and supported numerous local coops, community run businesses and collectives. Covid has created an even tougher environment for small venues, so it’s vital to build in as much support, diversity and resilience among our networks as possible. With this in mind, we invested £500 into the Sister Midnight share campaign to secure the Ravensbourne Arms in Lewisham.
“When we decided to become a Community Benefit Society we were really grateful for all the help, support and advice that we got from other venues such as Komedia and The Bell, and we were equally as grateful to receive investment from other GMVs across the UK. When we heard about Sister Midnight’s plans it felt good to be able to pass that goodwill forward and we were very happy to be able to invest and become a part of their effort to open a community owned venue in Lewisham. We wish them all the best!”
-Matt Otridge, Finance Manager and Director of Exchange
All investments are important when becoming a CBS. The Ravensbourne Arms have reached their target of £260,000. But they are still accepting share investments! Get in touch at firstname.lastname@example.org