new economics foundation an independent ‘think and do’ tank

1. new economics foundation • an independent ‘think and do’ tank • “economics as if people and the planet mattered” • working towards individual and social wellbeing, environmental sustainability, and social justice • working in partnership • Innovative and integrated solutions that challenge mainstream thinking on economic, environmental and social issues www.neweconomics.org

2. The Local Alchemy Principles In every community, whatever the level of economic disadvantage, there exists the key elements for transformation Enterprising behaviour – can do, solution focused Asset-based approach Passionof entrepreneurs – 100% client focused Action-focused – understand opportunities & take action Triple bottom line outcomes Networksof support Transformation Action learning programme – flexible, responsive, adaptive Lacking has been way to release it

3. Moving towards - Enterprising communities Developed in partnership with emda: • East Midlands: 13 communities • Area-based approach: coastal, urban housing estate, ex-coalfield, rural, inner-city • Population size: 3,500 – 20,000 • Pre-qualification: • invited in – competition to select areas • mobilise local support • energy for action • vision for change – local success criteria

4. The Approach: Economic Literacy Action Coaching with Networks Transformation Community Institutions

5. Communities explore: • What are the opportunities for enterprise development of both new and existing businesses – What do we want to do? • How could goods and services be delivered differently? • How can we mobilise resources to do what we want to do? • Outcomes: local economic, social and environmental

6. Local Authority – Institutions challenge Every way the public sector spends money has the potential to achieve regeneration aims Work to open up their spending to: • generate a positive regeneration impact • open up local employment and business opportunities