1). Tools for local economic renewal – nef equips communities with the tools needed to create the local economy that people want. Whatever your role is in a community – business leader, government official, or concerned resident – you have a vital role in shaping the local economy. Our tools: mobilise local resources, engage all sectors in economic renewal, and inspire action. Here’s how:
nef is an independent think-and-do tank that inspires and demonstrates real economic well-being.
We aim to improve quality of life by promoting innovative solutions that challenge mainstream thinking on economic, environment and social issues. We work in partnership and put people and the planet first.
In these areas, businesses often struggle, employment levels are low, and local people face multiple problems, including lower educational attainment, poor health, bad housing and high crime rates. Business in the Community’s economic renewal campaign focuses on how business can help to build local economies and regenerate deprived areas.
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3). Economic Renewal ER – Economic Renewal is an economic-development process that empowers communities to develop sustainably to prosper over the long term without compromising core values or eroding the local resource base. In contrast to conventional approaches that rely on recruiting new industries, Economic Renewal stresses self-reliance, diversity, and more inclusive decision-making.
- Taking the view that many small efforts work better than a single one-size-fits-all solution, its priorities are resource productivity, support of existing businesses, encouragement of new local enterprise, and recruitment of compatible new business, in that order.
- Hopeful, creative, civil, and fun, “ER” is a proven process for organizing and conducting a series of town meetings that defuses factionalism, encourages citizen involvement and collaborative decision-making, and leads to practical projects that benefit everyone.
- Steered by RMI’s (Rocky Mountain Institute’s) detailed Economic Renewal Guide, participants envision their preferred future, inventory and analyze community conditions, review natural capitalist opportunities, identify prospective development projects, evaluate their prospects based on community criteria, choose the most promising projects, and develop action plans for each. In addition to practical development projects, outcomes include renewed local decision-making capacity that includes people from all walks of life and fully considers the economy, community, and environment.
4). Economic renewal – There are three programme areas:
- Coherent investment frameworks,
- Create new pathways to employment and employability,
- Social enterprise.
Area Investment Frameworks: The concept of an “Area Investment Framework” (AIF) is outlined in the South East England Development Agency’s (SEEDA) Regional Economic Framework (RES). AIFs are intended to provide a 5 – 10 year framework for investment by arange of agencies in an area, embracing several local authorities where appropriate.
5). The London Borough of Sutton – Economic Renewal. The Economic Renewal Team delivers services in the following areas: economic renewal, emergency planning, external funding and research.
- Supports and develops the Sutton economy for the benefit of local residents and businesses;
- Co-ordinates the emergency planning function for Sutton Council;
- Provides support to the Council and its partners to access external sources of funding (such as Lottery funds and Government grants);
- Provides a research and consultation service to help deliver Council services effectively.
The Economic Renewal Team is part of the Chief Executive’s Group and one of Corporate Strategy Unit’s teams.
6). Economic Renewal Data – The Towards a Thriving Merton project has collated a variety of data sources relating to economic renewal in Merton.
This information should be of use to organisations seeking to apply for government and other funding for regeneration initiatives in the borough and may also assist new businesses seeking to establish themselves in the area.