Criticisms
The society says it is not deliberately elitist, but also that the qualification for potential members is being "prominent in their own sphere of business and active in the charitable or public life of the area". An article in local magazine Venue claims that many members are not active in charity. There were no female full members of the society until 2003 (though Margaret Thatcher had earlier been made an honorary member), and as of 2009, there were no ethnic minority members. The society said it expected to have ethnic minority members in the future. There is a list of members, with brief biographies, on the website.
Venue claims that the Merchant Venturers control 12 charities and 40 trust funds, and also a private unlimited company, SMV Investments, that has major investments in defence contracting, tobacco, genetically-modified agriculture and the petroleum industry. Merchant Venturers serve on the boards of many local charitable and cultural organisations, and are guaranteed seats on the University of Bristol Court and the Downs Committee. It quotes Paul Burton of the University's School of Policy Studies as saying, "they exert quite a bit of influence and we, the people of Bristol, don't know much about them and can't hold them to account".
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