Loomio
Mon 26 Aug 2019 2:08PM

Finding the right way in.

G Graham Public Seen by 97

I've been aware of, and interested in the FairShare concept, for several years. I'm now actively working with colleagues to create a substantial new UK business, very probably using the FairShares approach. I've just re-read the 'Case for Fairshares' PDF, which remains helpful, and I'm looking for an up to date guide that can inform me and help me make good decisions about the design of a set of rules for the new business. I've looked at the rules generator, and it appears to give me loads of early choices (e.g. https://sites.google.com/view/fairsharesrules/companies) without providing any guidance as to which of those I should be looking at, so I'm loathe to start down any of those routes with clear guidance. I'm overwhelmed with the choices of other FairShares websites listed that I can visit. What's the pathway?

AA

adrian ashton Mon 26 Aug 2019 2:16PM

sounds like a question for @roryridleyduff1

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Graham Mon 26 Aug 2019 2:47PM

I've started in on the rules generator, and it's starting to make a bit more sense. From the perspective of a noob, though, I do think a clearly marked pathway and suitable guidance would be hugely helpful. Happy to do the mystery shopper thing if that's helpful (for a reasonable fee).

IS

Ian Snaith Mon 26 Aug 2019 3:23PM

I've never been involved in this process and, to be honest have not looked at the constitutional documents before. I'm happy to do a little by way of "pro bono" work on here subject, as ever, to issues of time and resource. If it's to be a "substantial new UK business" it might be wise to get some paid for legal advice before you launch it. I work through Anthony Collins Solicitors who have quite a lot of expertise in Third Sector work and have a Commercial Department.

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Graham Mon 26 Aug 2019 3:37PM

Ian, hi. Many thanks for this. I was planning to get in touch with you and/or Cliff in any event, as I'm keen to get some insight from seasoned co-op specialists before we commit to anything. I'm interested in the Fairshares company approach because I think it might offer a greater degree of comfort to some impact investors and other stakeholders that we're hoping to bring on board, who I think will be v.wary of a society structure, simply because of a lack of familiarity.

SG

Steve Gill Mon 26 Aug 2019 5:25PM

Graham; Antony Collins (Cliff I think?), Rory and I are getting together later next month to thrash through the articles for VME Coop, happy to keep you in the loop once that process has been completed?

TS

Tom Stewart Mon 26 Aug 2019 5:28PM

Very interested in this - we registered as a FairShares Coop, but I've often thought that a conventional limited on the Fairshares model would be easier for a lot of our business ecology in Ireland to understand. Assume things similar in the UK.

IS

Ian Snaith Mon 26 Aug 2019 6:02PM

Thanks @stevegill. I'd be happy with that. Cliff also works through ACS LLP.

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Graham Tue 27 Aug 2019 7:45AM

Thanks @Steve Gill - very keen to work with you on this as I'm keen that we are "Coop-Exchange-ready" if that's a thing.

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Graham Tue 27 Aug 2019 7:53AM

@Tom Stewart Interesting to hear this - I'd be interested to learn if you've had specific feedback re: concerns/lack of understanding around the society model. I think it's very much horses for courses: I've just registered a straight-ahead society for the benefit of the community (not Fairshares) on another project and it is absolutely the right fit in that case, culturally and technically. For the platform co-op that I'm working on, colleagues are coming from a non-coop background so for them company law and share classes are much easier to get their heads around. And we think FareShares could offer a fit with investors.

TS

Tom Stewart Tue 27 Aug 2019 1:47PM

My feeling is that cooperative law in Ireland is somewhat archaic - we have yet to have the regulatory reform the UK went through with CIC's etc - therefore coops are less well understood at a number of levels.

So for, as you say, those 'non-coop' people, I do feel a Limited with internal FairShares rules would save time through familiarity and potential 'niche' characterisation - I'm a 'coop' person myself though. The identity and history matter to me, at an emotional as well as an economic level.

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