What is Community Wealth Building?
“a people-centred approach to local economic development, which redirects wealth back into the local economy, and places control and benefits into the hands of local people”
Community Wealth Building is all about supporting the positive, socially and environmentally ‘generative’ parts of the economy to grow while reducing extractive, damaging ones.
This can be a ‘top-down’ approach: getting local “anchor institutions” – councils, hospitals, universities – to spend their money locally. This stops wealth flowing out of the local economy.
And it can be a ‘bottom up’ approach: a group of people in a community organising to buy and run a local building for the benefit of the local community. This puts power back into community hands.
At the heart of successful Community Wealth Building, you find local anchor institutions, partners and citizens working together to transform the economy for the benefit of their communities.
At Owned by Oxford we’re focussed on how to make sure “top down” meets and supports “bottom up”.
Stories of Community Wealth Building
Here are some inspiring examples of community wealth building in action from across the UK
Wolves Lane Centre, Haringey – Formerly Council owned, now a community owned food and growing hub.
The Big Lemon – providing community-owned, affordable and sustainable bus services for the citizens of Brighton and beyond
Squash Liverpool – with a 100-year vision promoting food growing, cooking, crafts, arts, and enterprise.
Gateshead Community Organisation – “an accidental social enterprise” enabling the people of Gateshead to reach their full potential
Kitty’s Launderette, Liverpool – an affordable, ecological, community launderette and space for local people to gather, talk and learn.
The Owned by Oxford Project is part of CAG Oxfordshire, a co-operative owned by its members.
Registered as The Community Action Groups Project Oxfordshire Limited with the FCA, number 8117.
ADDRESS: Makespace, 1 Aristotle Lane, Oxford OX2 6TP