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Community Wealth Building

What is Community Wealth Building?

Community Wealth Building  is a new people centered approach to economic development, which redirects wealth back into the local economy and places control and benefits into the hands of local people.

 

It's about working in partnership with communities and businesses to build a strong local economy which supports fair work, encourages local spend and uses the land and property we own for the common good.

There are five pillars to Community Wealth Building, the pillars are:

  • Inclusive ownership: developing more local and social enterprises which generate community wealth including social enterprises, employee owned firms and cooperatives.
  • Finance: Ensuring flows of investments of financial institutions works for local people, communities and businesses.
  • Work Force:  Increasing fair work and developing local labour markets that support the wellbeing of communities.
  • Spending: Maximising community benefit through procurement and commissioning, developing good enterprises, fair work and shorter supply chains.
  • Land and Property: Growing social, financial and economic value that local communities gain from land and property assets. 

 

West Lothian Initial Approach Report - WL CLES Community Wealth Building Action Plan FINAL 14-07-2022 (PDF, 483 KB)(opens new window)

Staff and Partners

The Community Wealth Building Team

To find out more about Community Wealth Building contact the Community Wealth Building Team, contact: regenerationteam@westlothian.gov.uk (opens new window)

Partners

Related Projects

 

 

Armed Forces Community Covenant
What is the West Lothian Armed Forces Community Covenant ("WLAFCC")?
Fairtrade
West Lothian is a Fairtrade Zone with Fairtrade Town in Linlithgow.
Free provision of Period Products
Details of Period Products provision, single use & reusable, throughout West Lothian.
Third Sector Funding
A wide range of funding is available from a number of sources including the UK and Scottish Governments and numerous charitable trusts. Many of these schemes are available to organisations in West Lothian.