Published: 6th Oct 2020

Commercialisation can put a council’s financial health at risk if it is not properly managed, according to a new report. The report by the Auditor General for Wales warns that local authorities need the right culture, skills and systems to unlock the benefits and mitigate the risks of commercialisation. It notes that many councils are exploring commercial opportunities to mitigate against the financial pressures they face. But it adds that should councils decide to invest in commercial opportunities, they need to be clear what the benefits of this are for the council, local people and the wider community. ‘It is also important that a council’s key partners and stakeholders understand and know what commercialisation is for the council, and what it is not given councils are investing public money,’ the report adds. ‘If the approach to commercialisation is not well managed or does not deliver what is intended, it can … (To read the full article, subscribe below)