COMMUNITY WEALTH BUILDING

What is Community Wealth Building?

My interpretation of the big picture:

• Re-making our local economy, creating a strong, resilient community with trust-based relationships, local connections, individual community champions, reserves of human capital and volunteer effort.

• Working with “anchor institutions” with the aim of maximising local economic, environmental and social benefits from their spending on goods, works and services.

• “Clawing back” wealth with local import replacement and recycling of local income thereby stemming the leakage of revenue from the Hawkesbury.

Why care about Building Community Wealth?

• This is about the dignity and sense of worth of our local community; of their relevance; of their well-being and their productive and useful place in the economy.

• Creating a fairer and more sustainable economy that retains and builds wealth that adds social value from within.

• This is a practical agenda to address real, local economic stresses.

• This is a “bottom-up” approach

Why now?

• Our regions have Read more

IMPACT OF EMPLOYEE OWNERSHIP

Below is my summary from the “The Ownership Enquiry – Final Evidence Report” June 2018, which I thought a great introduction for anyone wanting to understand why I introduced employee ownership into our family business. Educating yourself before jumping into launching EO is critical to the success of your succession.

The evidence of the impact of employee ownership on performance is overwhelmingly positive. The most apparent evidence is for smaller firms, firms with larger employee ownership stakes, and in studies over longer time horizons.

Employee-owned firms tend to be more productive, have higher employee engagement, along with factors like rewards sharing, job satisfaction, organisational commitment, and motivation – which is reflected in higher retention and lower absenteeism.

Employee-owned business is more resilient in crises and appear to have a positive impact on the broader community. This evidence has salience in the current economic climate. The economy is increasingly shifting from manufacturing to services. The increasing shift involves the development of … Read more