What does an inclusive economy look like?

In a recent blog post, I wrote about the term ‘inclusive economy’, and what this means. In this blog, I will explore in more detail what an inclusive economy looks like, and the types of organisations and activity that contribute to it. Going beyond the concept of an inclusive economy to understand what alternative options exist that challenge the economic status quo, and what they look like for normal people in their day-to-day lives. As I mentioned in my last blog, this status quo contributes to the stark inequalities that the Voluntary, Community, Faith and Social Enterprise (VCFSE) sector seeks to address, the reason much of the sector exists.

As we get deeper and deeper into a cost of living crisis, the mainstream economic models we have come to accept as ‘business as usual’ are showing their weaknesses. Many are asking why, when the economy is failing, is it those who are most vulnerable who are feeling the effects the most? What does this say about our values as a society?

Many inclusive economy approaches have been created to counter the negative impact of the mainstream stuff we have become used to. The picture below demonstrates this. The ‘clouds’ are part of all of our lives, the things in the umbrella protect or guard against the damage caused by ‘rain’.

During the economic good times these ideas may seem superfluous – particularly to those who aren’t exposed to the very real challenges that marginalised communities face. However, as the current crisis begins to bite in a post-Covid and post-Brexit UK, these ideas don’t seem so radical. We now need even more ways of working that have building resilience and protecting communities – not returns to shareholders – at their core.

What all of the organisations working to create a more inclusive have at their heart is putting people in charge of the decisions that affect their lives. From July 4th – 8th, we celebrated Communities in Control across Greater Manchester. Community groups and organisations were invited to take the opportunity to talk to a wide range of stakeholders about what they do and why it is part of an inclusive economy.

Here are some examples of organisations working to create a more inclusive economy and where you can go to find out more:

• ‍Developer-led regeneration: Resident-led spatial planning prioritises the needs of local residents when decisions are being made about their area. Firs Community Benefit Society
  

• ‍High street banking: Credit unions are financial co-operatives which provides savings, loans and a range of services to its members. It is owned and controlled by its’ members. Greater Manchester Credit Unions

• ‍Casual, insecure jobs at minimum wage.
  • Membership of an employee-owned cooperative gives individuals a stake in and power over their working terms and conditions as well as how the business operates.
  • Inclusive employment approaches tackle inequality by supporting those facing barriers to employment.
  • Good Employment Charter members offer the Real Living Wage and flexibility.‍
  • Middleton Cooperating  - attracts and help new co-operatives and social businesses to grow in Middleton, employing local people and offering services that improve lives‍
  • Yes Manchester - supports people into work in North Manchester

• ‍Extractive business models removing money and resources from neighbourhoods
  • Social Enterprises are businesses who like traditional businesses aim to make a profit, but they reinvest these profits within their community.
  • Community wealth building  is a model that transforms local economies based on communities having direct ownership and control of their assets. ‍
  • Sawa BBQ - a Social Enterprise Catering Business which originated through Dynamic Support – an organisation bringing together BME women and their families across Greater Manchester to support their well-being.
  • ‍Manchester Urban Diggers - urban community market gardeners based in Greater Manchester making spaces for people to grow food. We provide a network of hyper local, organically grown fresh produce to the local communities.

• ‍Environmentally exploitative practices
  • Just transition/net zero – ways of working that minimise carbon production and negative impacts on the physical environment ‍
  • Carbon Co-op - an energy services and advocacy co-operative that helps people and communities to make the radical reductions in home carbon emissions necessary to avoid runaway climate change.

Wouldn’t it be great if we can enable more of this kind of economic activity? That’s a big part of our mission, and a commitment under the VCSE Accord.