Mainstreaming community economic development is about encouraging economic development to develop from within. About understanding and building upon an area’s existing strengths so that it can flourish by maximising the local economic and social benefits for all. It’s a flexible approach which has been adopted by many different types of organisation including local authorities, businesses, community organisations and social enterprise to develop.
Localise West Midlands has developed this list of ten flexible ideas that your organisation might be able to
use to help your area flourish from within:
- Think strengths, think place.
- Give local commitment a voice
- Understand your impact:
- Build your relationship economy
- Grow social as well as financial capital
- Identify your foundational economy
- Decentralise finance
- Localise corporate social responsibility by getting to know your local multinationals
- Use procurement and commissioning to support your area
- The power of planning
Find more tools from the Localising Prosperity series