Emerge Recycling a community benefit society providing waste recycling and reuse services for business and organisations across Greater Manchester, has launched a community share offer to develop its operations.
The social enterprise, which offers services such as ISO9001 accredited confidential shredding, waste electrical goods processing, wood waste collections and kerbside collections, wants the funds to develop a new depot, grow its team and make its operations more sustainable.
It says it is “excited to offer the local community and the general public an opportunity to join us in pioneering reuse and recycling for social good by helping us to develop our longstanding business and deliver a revitalised business plan over the next three years.
“We’re looking for kind and compassionate investors, who want to make a difference and help their community in developing a more sustainable future.”
The share offer will help to fund a number of initiatives, including:
- a new depot inside Maynard House
- greener vehicles
- solar energy and biodiversity
- digitisation development to enable greater operational efficiency
- beginning the process of securing ISO27001.
The minimum target for the share offer is £140,000 and the maximum target is £300,000; the minimum investment permitted is £200 and the maximum investment is £30,000.
Emerge added: “We are looking to attract investor members who support the purpose of Emerge Recycling rather than those seeking financial returns. As such, the level of return is designed to be the minimum sufficient to attract and retain the investment.
“Our financial modelling indicates that we will be able to pay up to 4% interest on members’ shares from the financial year 2024/5.”
The shares will qualify for social investment tax relief (SITR), which means individuals can benefit from 30% income tax relief on the amount invested (subject to your personal tax position).
By Miles Hadfield
First published in Cooperative News, 5 April 2022
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Featured image: Emerge Recycling