The growth of community businesses is driven by attempts to rescue libraries, pubs and other local assets under threat from closure, according to research released by the independent trust Power to Change and the non-profit Social Finance.
The report found that the number of community businesses in England has grown by 5% in the last year, outstripping growth by both charities (1%) and small businesses (2.3%).
Community businesses are charities and other organisations run for and by local communities, which re-invest all surplus back into the local area.
The report found:
- 300 local libraries are now run as community businesses (20% growth on 2015)
- 1,100 sports and leisure facilities are now run as community businesses (10%)
- 40 local pubs are now run as community businesses (14%)
- 330 local shops are now run as community businesses (3%)