Community Wealth Building
Community Wealth Building (CWB) is a people-centred approach to local economic development, which redirects wealth back into the local economy, and places control and benefits into the hands of local people.
There are five core principles to Community Wealth Building
- Progressive Procurement – developing local supply chains of businesses likely to support local employment and keep wealth within communities.
- Fair Employment and Just Labour Markets – Using anchor institutions to improve prospects of local people.
- Shared Ownership of the Local Economy – supporting and growing business models that are more financially generative for the local economy.
- Socially Just Use of Land and Property – developing the function and ownership of local assets held by anchor organisations, so local communities benefit from financial and social gain.
- Making Financial Power work for Local Places – increase flows of investment within local economies by harnessing and recirculating the wealth that exists.
Resources
- Own the future, CLES
- Community Wealth Building Centre of Excellence
- Scottish Government
- Community Wealth Building Case Studies Scotland’s Centre for Regional Inclusive Growth
