Article

Business Ownership For The 99%: How To Finance It

Anne Field
Forbes

One goal for a lot of social entrepreneurs is for business ownership to be held by as many people as possible.

But that’s tricky for many reasons. Take the matter of financing. Funding inclusive models, as they’re called,  is different from financing  the usual suspects, that is, companies owned by the few that aim to maximize financial returns only.

“It’s not necessarily harder, but it seems harder, because it’s different,” says Majorie Kelly, executive vice president and senior fellow at The Democracy Collaborative. In other words, funders need a greater comfort level with these models before they dole out the money.

With that in mind, Democracy Collaborative recently published a report examining a variety of ownership models and ways to finance them. Here’s a look at a few, along with some innovative financing approaches...

A Powerful, Under-Used Tool for Addressing the Roots of Inequality: Inclusive Ownership

Marjorie Kelly
Stanford Social Innovation Review

In this blog for the Stanford Social Innovation Review, our Executive Vice President and Senior Fellow Marjorie Kelly delves into some of the groundbreaking models for inclusive ownership that are increasingly making an impact on the lives of workers and community members. Kelly offers these strategies as concrete and evolving ways to help equitably distribute wealth in the US and beyond, creating a sustainable and fair economic system:

Building the Inclusive City

Marjorie Kelly
Stanford Social Innovation Review

The Stanford Social Innovation Review features our new report, Cities Building Community Wealth, emphasizing that the innovative collaborative approaches to economic development highlighted by author Marjorie Kelly are truly seeing results.

7 Paths to Development That Bring Neighborhoods Wealth, Not Gentrification

Marjorie Kelly and Sarah McKinley
Yes! Magazine

YES! Magazine talks to Marjorie Kelly about the seven drivers cities can use to develop economies that build community wealth detailed in our report, Cities Building Community Wealth

More Cities Get Serious About Community Wealth-Building

Anne Field

Following the release of our report, Cities Building Community Wealth, journalist Anne Fields emphasizes the growing need for local governments to pass policies that benefit communities. Field draws examples from Marjorie Kelly and Sarah McKinley (co-authors of the report) that discuss the 20 cities highlighted in the report.

Taking the Bureaucratic-Speak Out of Community Wealth Building

Oscar Perry Abello
Next City

Next City reporter Oscar Perry Abello highlights the innovation inherent in the Democracy Collaborative report, Cities Building Community Wealth. Abello describes authors Marjorie Kelly and Sarah McKinley as important voices in exposing the Community Wealth Building movement, "a movement that has been brewing beneath the radar for at least 40 years."

Communities Building Their Own Economies

Steve Dubb
Stanford Social Innovation Review

Steve Dubb writes for the Stanford Social Innovation Review on the importance of having access to tools that educate and empower low-income communities to shape their economic future.

Empowering communities to take control of economic development is slow, patient work—and people funding or supporting it need to take this into account when assessing success. Long-term, place-based commitments are critical; parachuting in and out does little to build local capacity. And the metrics we use need to take into account the often intangible relationship-building that weaves together a truly empowered community; shortcuts and quick fixes can cause real damage.

How Communities Can Build Wealth by Knocking on Doors

Oscar Perry Abello
Next City

In Next City, Oscar Perry Abello looks at how our new report Educate and Empower highlights key strategies for building stronger community wealth building initiatives.

“People know that there are door-knocking campaigns and community organizers do it all the time, but have they thought of this consciously as a tool for economic development,” explains Keane Bhatt, senior associate for policy and strategy at the Democracy Collaborative, based in Takoma Park, Maryland. Bhatt is co-author of Educate and Empower: Tools for Building Community Wealth, a report released today that features profiles of 11 organizations includingPUSH Buffalo.

“What we’ve done is go around to 11 different community-wealth building institutions to try to seek out from a broad diversity of initiatives some kind of underlying themes that are crosscutting in nature,” Bhatt says...

Read the rest at Next City

 

Mayor Brown Announces Task Force Members For Economic Development Initiative in Northwest Jacksonville

City of Jacksonville
City of Jacksonville

Goal is to Create Jobs with Innovative, Community-Based Economic Development

Mayor Alvin Brown today announced the members of a newly-formed task force to guide a Community Wealth Building Initiative that will focus on new strategies to create jobs and business opportunities in Northwest Jacksonville.

How Universities and Hospitals Unite to Boost Local Economies

Cecilia Garza and Araz Hachadourian

When large “anchor institutions” agree to hire and spend locally, they can transform neighborhoods hardest hit by poverty and unemployment....read more

A Business Plan for Healthy Communities

David Zuckerman
Hospital & Health Networks

The economic and racial divides that drive health disparities within communities are stark and widening. Twenty-two percent of children in the United States live in poverty, a percentage that has remained relatively unchanged since 1960. The number of Americans living in concentrated poverty has doubled from 7 million to 14 million since 2000...read more

The Curb-Cut Effect

Angela Glover Blackwell

“Opportunity doesn’t trickle down; it cascades out and up,” writes PolicyLink’s CEO Angela Glover Blackwell in this new article published in the Winter 2017 edition of the Stanford Social Innovation Review. Using the transformational success of disability activists in the 1960s and 70s as an example, Glover Blackwell describes how programs designed to benefit the most marginalized groups often end up yielding considerable benefits to society at large,. She applies this principle to addressing income inequality, noting that programs that build the wealth of the most vulnerable will create greater prosperity for all residents. 

Bridging the town and gown divide

Jon Marcus, The Hechinger Report
PBS Newshour

"Trudging in from the cold and dark after long days at work, students settle in on stackable chairs around folding tables in a room austere but for a whiteboard and a lonely plastic Christmas tree...."read more

 

‘All Resistance Is Local’: A Plan of Progressive Action for the Trump Years

Gar Alperovitz, David Bollier, Gary Gerstle and Heather Gerken
The Nation

 Here’s how states and cities can lead the fight against the Trump administration—and build a new political order...read more

Hospital Toolkit highlighted in Stat

Stat News
Stat

Stat news highlights the importance of the Hospital toolkit as shows how "providers can channel their $340 billion annual purchasing power into disadvantaged communities. Currently, only about 2 percent of that money flows to businesses owned by minorities and women." ...Read More

Worker Cooperative Law Passes in the California State Assembly

The California Worker Cooperative Policy Coalition

On May 22, the California State Assembly passed AB816, a major step toward making California the twelfth state to establish a legal form speci cally for worker cooperatives. This campaign is building on the momentum of worker cooperative policy initiatives happening throughout the country—including a $1.2 million dollar funding initiative in New York City last summer—as the cooperative business form gains recognition as a powerful tool for economic revitalization. 

Educating for a Changing World: The Importance of an Equity Mindset

Judith A. Ramaley

Our nation’s colleges and universities are being asked to play demanding roles in creating the capacity for active and engaged collaboration and collective action to address complex challenges that are shaping the world we live in. An essential ingredient of any effort to build healthy communities for any purpose, including education, is the cultivation of equity and inclusion. In this article, we discuss what these terms mean in practice and how to draw upon the talents and experiences of all the members of a diverse community in order to understand and address the pressing social, cultural, economic, and environmental challenges we face in our communities and around the globe.