According to the CED programme (a partnership that includes Cooperatives UK, New Economics Foundation,
Locality, Community Development Foundation, and the Community Development Finance Association) community
economic development describes
a process of economic development within a specific geographic area, to make the economy in that area work well for that community. The process is led by people living, working and running businesses in that area.
As an approach, it tackles environmental, social and economic issues as interconnected, and recognises the importance of connections between the local, regional and national layers of the economy. It builds on the knowledge, experience and resources in that community, to identify and maximise the local economic opportunities available.
Community Economic Development aims to reshape the economic system to make it better serve people’s (and their communities’) interests. It can include projects such as
- the establishment of a credit union
- the creation of business networks and incubators
- co-operatively controlled resources
- local loan funds
- energy efficiency programmes
- community-led housing development
- using community shares to safeguard local assets
- regeneration programmes
Co-operantics has been involved in delivery of a range of support for the CED programme including:
- Technical support
- business planning
- feasibility assessment
- guidance on legal structures and governance support
- community engagement planning
- Facilitation of community meetings
- Delivery of capacity building support
- Identification of economic, social and environmental objectives
- Identification of resources within communities and support needs
- Assistance to draft a Community Economic Development plan
At Co-operantics, we have decades of experience of working with co-operatives and community businesses that are democratically controlled by local communities and aiming to change the part people play in the local economy or communities who want to create an organisation of this type.
Contact us for a quote if you need to commission support to develop a community business or work on a community economic development plan.