The UK’s first live music venue run by a co-operative, the Globe in Newcastle, is looking to raise £36,000 to invest in the business’ long-term future.
The Jazz Co-op bought the venue back in 2014, after raising £125,000 in community shares from more than 200 people.
The co-op was set up by a group of local residents, jazz lovers, musicians and poets, inspired by the city’s former Jazz Café and its late owner, Keith Crombie, who died in December 2012.
The community co-op hosts a range of music and dance nights and also offers workshops and courses on poetry, dance and related arts. The building ran as a nightclub on the ground floor and a jazz venue on the first floor.
After tenants left prematurely, the co-op has taken control of the running of the whole building and invested in more equipment. With refurbishments costing more than expected, the Jazz Co-op has set a new fundraising target of £36,000.
Those interested can choose to invest between £200 and £20,000 to become a member of the co-op and have a say in how it is run.
Further investment would enable the co-op to pay back lenders and reduce expenditure by £1,000 a month. The Jazz Co-op is managed by a board of directors elected by members, who are not paid.
Other members can also offer to help as volunteers and assist in running of events, maintenance, administration or promotion.