How to… localise prosperity

Localise West Midlands has made the case for a new local economics for many years. Here, co-ordinator Karen Leach launches the organisation’s new video which shows, through four projects, that another economic story is possible.

We are delighted to launch our new Localising Prosperity video – a seven-minute film exploring better ways to do economics.

Through four projects that exemplify aspects of the Localising Prosperity approach our film shows how we can create an economy which is lively and diverse, meets local needs with local resources, and in which more people have a stake.

In such a short film we’ve not had space to fully describe the featured projects and who is behind each of them, so here’s a quick round-up and some useful links:

The new hospital: anchoring prosperity in the community:
This is about ensuring ‘anchor institutions’ like Sandwell & Birmingham’s new hospital (leaving aside current concerns about Carillion!) has the maximum positive impact on local people, by ensuring that retail options, procurement and related services are locally sourced and employ locally wherever possible. The organisations working on this – Sandwell Council, Citizen Home, Localise West Midlands and Smethwick CAN among others – are proposing that one of the hospital’s retail units is taken by a social enterprise shop that could not only sell locally produced goods but act as a ‘concierge’ service for busy staff and visiting families, to access the services they need from local businesses. Thanks to Conrad Parke, Martin Hogg, Karen McCarthy for appearances in this one.

Inclusive business support ecosystems in Balsall Heath:
Citizens UK and the Centre for Research on Ethnic Minority Enterpreneurship have been working together with business people in Lozells, Small Heath and Sparkbrook to achieve better engagement with support agencies, aiming to generate an inclusive business support ecosystem in these areas. Nayer’s jewellery business is one of those involved. Thanks to Moses Dakurivosa and Nayer Khan-Farrukh for contributing here.

Energy Capital – local business innovation for social good:
Headed by Matthew Rhodes, Energy Capital is about collaborative sector development, in which energy innovation delivers on the needs of real people and the environment, and policy shifts support it to do so, with locally owned businesses involved at every level. RentE Cars is on of the local businesses that is ‘driving’ (forgive the pun) and taking advantage of electric car charging innovations. As well as Matthew we are grateful to Rob Jolly and Waqar Bukhari for taking part in this one.

Social care: an opportunity for inclusive economics?
Our final case study is about how social care, rather than being a problem, can be a positive force for inclusive economics that could help the West Midlands Combined Authority achieve its stated aims of sharing prosperity more widely – as a report by NEF for LWM outlines. The ‘foundational economy’ is made up of the things society really needs, social care being one, and deserves a closer economic focus. Built around adaptable, small scale and community enterprises, social care may not provide conventional ‘growth’ but could have a huge impact on local jobs in places where they are needed, providing something we all need and care about. Crossroads Care is an example of a locally accountable and adaptable enterprise delivering care and economic opportunity. Our thanks to Christine Christie, Graham Evans, Carol Glover and her mum, and Joanne Ferguson for their time.

Together these stories show some of the ways that communities can have greater economic power and prosperity.

• If you’re interested in this approach visit Localising Prosperity.