New scheme gives £60k boost to community buying

A new £60,000 innovation challenge has been launched to encourage co-operative buying.

The Buy Better Together Challenge has been drawn up by Co-operatives UK and the Department for Business, Innovation & Skills to make people think collectively to combine their buying power.

It follows research by Co-operatives UK which found 17% of people were already buying in bulk with others to save money. The challenge is now open to applications from groups and organisations in the public, voluntary and business sectors to focus on creating new or developing existing community buying schemes.

“Community buying has a range of uses to give consumers a bigger voice – from food co-operatives to heating oil groups – and I look forward to seeing the innovative ideas later this year,” said consumer affairs minister Norman Lamb.

Ed Mayo, secretary general of Co-operatives UK, added: “Co-operative buying, whether informally 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. The Buy Better Together Challenge is intended to stimulate enterprise and promote shared learning.”