In co-ownership, there are more than 900 small shareholders – inhabitants of a little Istrian municipality Bale and people who are called “friends of Bale”.
The reason for starting this kind of enterprise was the growing unemployment rate as well as the growing number of young people leaving the municipality. To stop the process, the head of the municipality Mr. Plinio Cuccurin started the process of creating a social enterprise for what he has received full support of all households in the municipality. The citizens themselves become founders and co-owners of the enterprise with a minimal financial investment. In this way, they have collected sufficient funds to start the tourist activity on the land, which they received from the municipality on long-term lease.
A camp and a camping site was established which employed people, made income for new investments, expansion and strengthening of tourist capacities. The development of the enterprise has resulted in increase of the municipalities budget from 3,8 million Kuna to 10 million Kuna, with the lowering of the surtax from 5% to 1%, as well as in increase in the number of residents. Due to greater number of overnight stays the income has increased multiple times what resulted in the 22% share of Mon Perin in the municipalities budget.
Since there are many stakeholders, and the Law regulations are a demanding set of legal procedure with high costs, the enterprise decided to create and start an Internal stock exchange. The Internal stock exchange represents a supply and demand system of the business shares and its operation makes it easier for members and other interested parties to dispose of shares.
The Internal stock exchange involves receiving of offers to sell and buy business shares, to check information and data, and to regulate ownership relations in the enterprise. All the mentioned actions contribute to a more reliable, faster, simpler and lowered cost availability of business shares.