1.1 The business has a clear vision to maintain the library service and to provide a community centre for hire by local groups and individuals. The facility will be self financing. Principal objectives are to:
• maintain the existing library service for the people of the area
• provide an additional community centre for hire by local groups
• make the venture sustainable in the long term
1.2 The business will be a company limited by guarantee and will have charitable status. It will be run by a board of volunteer members and the business of the company will be handled by volunteers. It will lease the premises form the county council and will provide all services on a self financing basis.
1.3 The current market has been examined and there is a high potential for a venture of this type to be successful. Local demand is high and there is good support from potential customers/users.
1.4 The business has clear plans for the library facility including a staged refurbishment and extension programme. Professional support has been secured with respect to design, planning and legal functions.
1.5 Primary target audiences are identified as young people, older people and disadvantaged people though the facility is offered to the whole community.
1.6 The strategy for achieving the business aims is in place and already advanced. It revolves around providing a well designed and well marketed library and community facility to both answer community needs and to generate income for sustainability.
1.7 Risks have been identified and plans are in place to deal with them.
1.8 The financial implications of the venture are clearly identified and understood. A full set of financial projections and imperatives is attached. In essence, the venture has achieved all start up capital required and has plans in place to secure ongoing revenue funding and individual grant awards for ongoing refurbishment and sustainability.