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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.

The Next Global Financial Crisis is Inevitable

The Real News Network
The Real News Network

The Real News Network  interviews Thomas Hanna of the Democracy Collaborative about 'The Next Global Financial Crisis is Inevitable.' In this article, The Real News Network discusses the report The Crisis Next Time:

It has been ten years since the last major financial crisis. With systemic deregulation undoing the safeguards, we are due for another crisis very one soon. Thomas Hanna, research director of the Democracy Collaborative’s Next System Project, says it is almost guaranteed

Watch in The Real News Network 

 

Where next for the New Economy movement?

Eli Feghal
Open Democracy

Eli Feghal writes in Open Democracy on 'where next for the New Economy movement?' In this article, Feghal highlights the work of the Democracy Collaborative with the Preston Model:  

These policy victories could be a sign of the mass appeal of new economy values and ideas. That certainly seems to be the case in parts of UK politics, where the Labour party has adopted policies and narratives about democratizing the economy in their national party platform. This development was inspired in part by the success of the “Preston model”—an economic development framework which gives priority to building an ecosystem of institutions that work together to build and circulate wealth within the community. This model (named after the city of Preston where it’s been tested since around 2013) was itself inspired by a US experiment, the Evergreen Cooperatives in Cleveland, Ohio, a network of worker cooperatives financed and supported by anchor institutions like hospitals and schools in the community.

Read more in Open Democracy

‘Amazon Doesn’t Need The Money’: In The D.C. Region, Resistance Is Growing To Tax Breaks For HQ2

Ally Swartz
WAMU

Ally Swartz writes for WAMU, "‘Amazon Doesn’t Need The Money’: In The D.C. Region, Resistance Is Growing To Tax Breaks For HQ2." In this article, she highlights alternative models of community development to Amazon's proposed HQ2: 

The office’s director, Reginald Gordon, says his agency has helped connect Richmond residents to jobs at new enterprises like Stone Brewing, which the city and state attracted to Richmond with a $6 million incentives package. Gordon’s office is also taking steps toward what it calls a “social enterprise strategy” to help locals start their own businesses, some of which could be worker-owned. In Cleveland, Ohio, residents have taken community wealth building to the next step, starting a network of cooperatives that serve the city’s universities and hospitals.

At the Our Revolution Arlington meeting at Summers Restaurant, a research director from the Democracy Collaborative extolled the benefits of community wealth building while Arlington County Board member Christian Dorsey sat at a table, listening.

Read more in WAMU

In the Age of Disaster Capitalism, Is ‘Survival Socialism’ the Solution?

Laura Flanders
The Nation

In this article, Laura Flanders writes for The Nation "In the Age of Disaster Capitalism, Is ‘Survival Socialism’ the Solution?" In this article, she writes about the needs for alternative to the boom and bust cylce of capitalism, as well as featuring graphic designed by Dylan Petrohilos 

Brown is tall and bald, mid-40s, but, even now, you can imagine him as a boy, smart and obsessive, taking radios apart to study their workings and reassemble them better. What he’s been tinkering with since he was elected to the Preston City Council in 2002, at age 30, is the machinery of city government. In 2011, after a 12-year plan to create jobs fell apart when a powerful name-brand retailer pulled out of what was to have been a shiny new shopping center, Brown reached out to Ted Howard of the Democracy Collaborative, an American “think-and-do tank” that he’d been reading about online. The collaborative helped start the Evergreen Cooperatives in Cleveland.

Read more in the Nation 

Beyond extraction: The political power of community wealth building

Martin O'Neill and Ted Howard
Renewal

Martin O'Neill and Ted Howard write for Renewal "Beyond extraction: The political power of community wealth building."  In this piece, they write about new ideas for the economy: 

An interview with Ted Howard, Co-Founder and President of the Democracy Collaborative, a Washington, D.C.-based ‘think-do tank’ that develops and promotes ideas for a more democratic economy. Howard is now an adviser to the Labour Party’s new Community Wealth Building Unit.

Read more in Renewal 

The return of public ownership

Thomas M. Hanna
Renewal

Thomas Hanna writes for Renewal "The return of public ownership." In this article, he writes about about his book on public ownership: 

Public ownership is back. And, in fact, outside the UK it never really went away – as a forthcoming book amply demonstrates. Democratised and decentralised forms of public ownership can and should be a component of the left’s vision for a new economic settlement.

Read more in Renewal

Editorial: The institutional turn: Labour’s new political economy

Joe Guinan and Martin O'Neill
Renewal

Joe Guinan and Martin O'Neill write for Renewal, "Editorial: The institutional turn: Labour’s new political economy ." In this editorial, they write about the Labour's leadership in the new economy:

The Labour leadership is putting together the elements of a new twenty-first century socialist political economy with a direct focus on ownership, control, democracy, and participation. Rolled out across the entire economy, it could displace traditional corporate and financial power in Britain.

Read more in Renewal 

Trump Is Handing Us the Weapon We Need to Avert Climate Catastrophe

Johanna Bozuwa and Carla Skandier
Truthout

Democracy Collaborative staff, Johanna Bozuwa and Carla Skandier, write in Truthout about "Trump Is Handing Us the Weapon We Need to Avert Climate Catastrophe." In this article, Bozuwa and Skandier write about the research started about nationalization and climate change: