Shared Ownership of the Local Economy
Shared ownership or plural ownership enables communities to generate income and the ability to retain the wealth in that area.
Development of community led SMEs and social enterprises can have a massive impact on the wealth retention of a community. Existing businesses with a history of longevity in local communities should be emulated and replicated. The profits can used to benefit the community through fair wages, reduced cost to consumers and reinvestment of profits in the community.
• Encourage the use and development of social enterprises and Community Interest Companies (CIC).
• Enabling workers the ability to create more employee owned companies.
• By moving towards public ownership where the wealth is flows around the community, which helps stop wealth extraction.
WHALE Arts is an example of a project who are trying to address the balance between where land and property are owned by local people/communities/groups as opposed to only local authorities, private and businesses is in the area.
WHALE Arts in based in Wester Hailes, are currently working with anchor networks like the local council, towards owning the land the building sits on so that the organisation and local community can have more scope and input on how the spaceand building is used for the better of the community.
To find out more about Whale Arts click here.