Community Wealth Building

Community Wealth Building

Community Wealth Building is an alternative approach to traditional economic development, which seeks to develop resilient, inclusive local economies, with more local employment and a larger and more diverse business base. This approach harnesses existing resources to support the local economy: procurement; employment; land and assets; financial power; and plural ownership of the economy.

The Scottish Government will provide up to £3 million for a regional Community Wealth Building Fund. The aim of this Fund will be: ‘to develop an Ayrshire approach to Community Wealth Building that enhances wealth, ensures fair and meaningful work, and creates successful places throughout the region.’

This will be achieved by:

• Community Wealth Building Business Locality Officers – to work in localities alongside Anchor Institutions to facilitate CWB activities across public, private, and social economy on procurement, employment, assets and ownership, linking with existing local service delivery.

• Community Wealth Building Fund – to support place-based CWB activity, and the work of CWB locality officers, including but not limited to: social enterprise support, employee ownership transition, workplace innovation, supplier development and capacity building, and supporting locality entrepreneurship.

• Fair Work Ayrshire – A dedicated Ayrshire ‘Fair Work’ resource to engage key employers (including Anchor Institutions) to ensure they recruit inclusively and provide quality and meaningful work, and to develop practical steps with employers to position Ayrshire as a Fair Work region.

This project seeks to develop resilient, inclusive local economies, with more local employment and a large and more diverse business base.

Specifically, this project will advance the procurement, employment, ownership and asset pillars of Community Wealth Building (CWB), across the public, private and social economy of the region.

The project will be developed, coordinated and implemented by a pan-Ayrshire CWB Working Group and will be the first regional place-based approach to CWB.

This project will provide resource investment to support the delivery of wider regional Community Wealth Building ambitions. Ayrshire is leading the way with Community Wealth Building in Scotland, with the following key strategic developments over recent months:

  • The expansion of the Community Wealth Building Commission to an Ayrshire Community Wealth Building Commission in summer 2020, with the agreement of a refreshed remit and a new workplan in December 2020.
  • The launch of an Ayrshire Community Wealth Building Anchor Charter in October 2020 as part of Challenge Poverty Week which has been signed by the three Ayrshire Councils; NHS Ayrshire and Arran; Ayrshire College; Scottish Enterprise; and The Ayrshire Community Trust (TACT).
  • The launch of Scotland’s first Community Wealth Building strategy in May 2020 by North Ayrshire Council.

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