Partner Article

Government set challenge to promote community buying

The Department for Business, Innovation and Skills has unveiled a new competition aimed at promoting the benefits of community buying.

Launched in partnership with Co-operatives UK, the trade association of co-operative enterprises, the ‘Buy Better Together Challenge’ offers a prize fund of £60,000.

Any group or organisation within the public, voluntary or business sectors will be eligible to enter.

Applications open in January 2012, with shortlisted entrants required to prepare a detailed business plan for the final stage.

Support will be awarded to the schemes that best demonstrate innovative models of group buying, and which deliver real benefit for communities.

Launching the challenge at a conference in London, Consumer Minister Edward Davey, said: “This is another strand of our consumer empowerment strategy; giving consumers the tools and guidance they need to take more informed choices and get better deals.

“I look forward to seeing the new and exciting ideas that will be put forward for the prize and the benefits that it will bring for the wider community.”

The Government hopes that by promoting community buying, businesses can be helped to spread their overheads and in turn lower costs for consumers.

Ed Mayo, Secretary General of Co-operatives UK, added: “Co-operative buying, whether informal with friends, student food co-ops or of crowd-sourcing online, is a growing trend among consumers and a good way to make your money go further.

“Our research shows that a quarter of people already buy in bulk with others and this is set to rise by 20 per cent this year. With household budgets under such a squeeze, we are finding more interest than ever in co-operative models of business.

“We are delighted to work in partnership with BIS to launch the ‘Buy Better Together Challenge’ to recognise and inspire new models for buying together.”

The launch of the competition coincides with the publication of The Guide for Community Buying Groups, which sets out practical advice on how to get started in community buying; business planning and dealing with finances, and marketing, legal and tax considerations.

This was posted in Bdaily's Members' News section by Tom Keighley .