Community Wealth Building For Council – An introductory session to the approach, benefits and role for council

About the Session

This session provides councils and other anchor institutions with an introduction to community wealth building, an overview of the benefits it offers local places and people and the role council can play to realise these benefits.

Community wealth building is an economic and community development model focused on promoting the growth of a local, inclusive and sustainable economy embedded in local and broadly held ownership. Community wealth building enables councils and communities to:

Stop economic leakage, keep and grow wealth locally and grow the overall local economy
Increase local investment, ownership and control in the economy and development
Grow local and inclusive businesses and supply chains that retain, recirculate and magnify local outcomes
Empower all members of the community to share in the risks, rewards and benefits of local economic and development activity
Anchor jobs, resources, industry and opportunity locally
Self-organise, foster local autonomy and resilience and effect system change
Create a locally relevant economy that responds to the unique circumstances of its place and community.

Community wealth building is well established internationally where it has proven to bring real benefits to local towns and people and tangible improvements in economic, social, cultural and environmental outcomes. It is now growing in Australia with the examples such as the City of Ballarat and City of Sydney engaging the community to develop community wealth building plans and more established initiatives such as GROW 21.

Councils and anchor institutions play an important role in community wealth building. Anchors can be local council, hospitals, universities and colleges and other large and locally rooted organisations. They can leverage their power and influence through their leadership, strategic plans and policies, progressive procurement, workforce and employment capacity and creative use of their land, property and financial assets. When a network of anchors collaborates around a community wealth building agenda, they can make a hige difference and magnify the impact across the region. Community wealth building has demonstrated the potential of council and anchor institutions to effect system change and create thriving local economies that prioritise local people and place. It can be used progressively to create a future focused leading local economy, or to solve the issues facing your region such as, such as changing economic opportunities, declining populations, unemployment, social disadvantage and more.

This session covers the foundational elements of community wealth building and the role and strategies that council and other anchor institutions can exercise.

Who Should Participate?

This course is designed for leaders and practitioners from council, development agencies and anchor institutions seeking a strategic and foundational understanding of the benefits, opportunity and solutions offered by community wealth building and the role your organisation can play.

Outcomes

Understand the role council and anchor institutions can play
Be inspired by current examples from Australia and internationally
Understand and articulate what is meant by regional and economic development via community wealth building
Understand the fundamental principles and approaches to community wealth building.
Be inspired by and envision the opportunity and benefit for your region, community and constituents.
Be inspired by current examples from Australia and internationally.
Understand the role that council and other partners can play
Be connected with the Australian network of community wealth building leaders and practitioners

Format and mode of delivery

Delivered online with a facilitator via video-conferencing from 9am – 1pm.

Topics covered

Introduction to community wealth building
Key principles and objectives of community wealth building
Benefits and impact of community wealth building
Comparison to traditional approaches
(Re)Framing stakeholder roles
Strategies and approaches for implementing community wealth building
Examples of community wealth building

Price

Not-for-profit organisations $350 plus GST and booking fee
Government officers, consultants and business practitioners $450 plus GST and booking fee

*Includes online facilitated session and electronic copy of Ethical Fields Community Wealth Building Course Notes.