Community Wealth Building:

Delivering a Wellbeing Economy in Scotland

 

Wellbeing Economy

A Wellbeing Economy means doing things differently. We need to build an economy that delivers thriving communities, a fair society and is environmentally sustainable.

Community Wealth Building is a practical approach to local economic development that supports the delivery of a wellbeing economy for Scotland. It delivers actions that give the people of Scotland a greater stake in our economy and wealth, making it work for us and our planet.

Some of the key components of Community Wealth Building are:

Inclusive Ownership: developing more local and social enterprises which generate community wealth, including social enterprises, employee-owned firms, and co-ops.

Workforce: increasing fair work and developing local labour markets that support the wellbeing of communities.

Finance: ensuring that flows of investment and financial institutions work for local people, communities and businesses.

Land and property: growing the social, ecological, financial and economic value that local communities gain from land and property assets.

Spending: maximising community benefits through procurement and commissioning, developing good enterprises, fair work and shorter supply chains.

 

Community Wealth Building in Scotland

We are growing Community Wealth Building (CWB) in Scotland in different ways, through  locations, sectors and projects.

Locations

North Ayrshire Council pioneered CWB in Scotland, and the Ayrshire Growth Deal includes a £3m SG funded project to support implementation. There is also the advancement of CWB in other parts of Scotland and SG is supporting the development of CWB action plans in Tay Cities Region (Fife Council), Glasgow City Region, Clackmannanshire, South of Scotland and Eilean Siar (Western Isles).

Sectors

Major sectors have roles as anchor institutions through their spending, investment, employment and use of physical assets, and we are seeing the NHS, Universities, Colleges, the housing sector and Police Scotland consider how they can play their part in CWB.

Projects

Scotland has a strong track record in delivering projects which link to different aspects of CWB. These can be found all over Scotland, some examples include Midsteeple Quarter in Dumfries, West Harris Community Trust, Scotland’s growing number of employee-owned businesses such as the Jerba Campervans in East Lothian, and examples of innovative procurement and commissioning practice such as Perth & Kinross Council’s “Community Benefits Wish List”.

Download Infographics for Community Wealth Building and the Wellbeing Economy below.

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Community Wealth Building - Delivering A Wellbeing Economy

The Five Principles of Community Wealth Building

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