Music venue to launch community share offer

The Forum relaunched in 2011 as a social enterprise

A music venue is launching a community share offer on Friday with hopes it will secure its long-term future.

In May, the Forum in Darlington was awarded £404,000 in funding from the Arts Council to regenerate its building.

But to unlock the money, the team needs to raise about £50,000 and is giving supporters the chance to buy shares.

Chief executive Allison McKay said the aim was to make the venue bigger and "stronger for the future".

Ms McKay has been running the venue for 13 years since it relaunched in 2011 as a social enterprise.

She said she was feeling "pretty burned out" and wanted to ensure the venue's future was not tied to her and her team's efforts.

"The problem with a lot of social enterprises is that [the people running them] move on and it just kind of withers away," she said.

"The share offer would give the local community voting rights so that they had a say in how it was run - it just brings in transparency."

It is hoped offering shares will secure the Forum's long-term future

Those under 25 can buy shares starting at £25 and older people can buy them from between £50 and £2,500.

Ms McKay said she was nervous about the launch of the scheme.

"It's like organising the biggest party you've ever had in your life and then you just worry that nobody's going to turn up."

Ms McKay said that if the target of £50,000 is not reached by 31 October, all the money pledged will be returned.

BBC Radio 6 DJ Huey Morgan is holding a show at the launch of the scheme on Friday.