A guide to third sector trading - WCVA
A guide to third sector trading - WCVA
A guide to third sector trading - WCVA
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It’s an idea, but is it business? A <strong>guide</strong> <strong>to</strong> <strong>third</strong> sec<strong>to</strong>r <strong>trading</strong><br />
1: Getting<br />
started<br />
2: First steps 3: Business<br />
planning<br />
4: Legal and<br />
governance<br />
5: Funding<br />
and<br />
resourcing<br />
6: Financial<br />
controls<br />
7: Managing<br />
growth<br />
8: Management<br />
and<br />
governance<br />
9: Social<br />
enterprise<br />
10: Sources<br />
of support<br />
2.4 Forming the steering group<br />
The purpose of the steering group: An important early stage for most<br />
new organisations is the formation of a temporary steering group<br />
whose job is <strong>to</strong> plan the new <strong>trading</strong> venture and help <strong>to</strong> set up its first<br />
board. This is useful, even for established bodies and groups of people<br />
who are already firmly committed <strong>to</strong> the <strong>trading</strong> venture or who don’t<br />
intend <strong>to</strong> involve a wider community. It provides:<br />
• A flexible, open-ended forum for discussion and planning which<br />
can easily be opened up later <strong>to</strong> local residents, partner bodies<br />
and others.<br />
• A forum for discussing and consulting on your plans.<br />
• A clear separation from any existing community or charitable<br />
organisation which is promoting or supporting the new<br />
enterprise <strong>to</strong> start independently.<br />
• A dedicated task group which can manage the development of<br />
the enterprise under the control of an existing organisation.<br />
• A transitional stage before people are required <strong>to</strong> commit<br />
themselves; you can’t ask people <strong>to</strong> become direc<strong>to</strong>rs of a<br />
<strong>trading</strong> company before they know what it will do or what their<br />
responsibilities will be, so you are simply asking supporters <strong>to</strong><br />
help <strong>to</strong> set up the project.<br />
• Other advantages:<br />
− it gives you time <strong>to</strong> plan at a pace which suits the people<br />
involved<br />
− you can build the team gradually by identifying missing skills<br />
and recruiting other individuals before you establish the<br />
company<br />
− you can use the steering group phase <strong>to</strong> start developing the<br />
knowledge and skills of potential direc<strong>to</strong>rs.<br />
Forming the steering group: The membership of your<br />
steering group will depend where you are starting from. New<br />
organisations and community organisations should try <strong>to</strong> make<br />
the membership as broad as possible. Depending on your starting<br />
point, you will may well want <strong>to</strong> include:<br />
• representatives of the ‘promoting’ organisation which is helping<br />
<strong>to</strong> get things started<br />
• partners in other organisations<br />
• someone running similar enterprises elsewhere<br />
• people with particular skills<br />
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