About Hurst Green Community Shop and Centre Ltd

Company Formation

In September 2010 Hurst Green Community Shop and Centre Ltd was formed by members of the Steering Group. It was formed under the rules of an Industrial and Provident Society for the benefit of the community. Unlike a company which is run primarily for the benefit of its shareholders, a BenComm as they are known, are run for the benefit of the community they serve and any profit must be returned to the community through its activities. In fact the company must demonstrate that it is benefiting the wider community and not just its members. Anyone over the age of 18 can become a member of the company and the members are vital to the operation of the business as without ordinary members the company would cease to exist.

Each year the company must hold an annual general meeting of its members where the Directors for the next year are elected from and by the members. The company is therefore owned and controlled by the members.

By buying one or more shares in the company you become a member and have the right to attend the annual general meetings, express your opinions, stand for election to the Board of Directors and vote at the meeting.