Rethinking health: Strengthening communities & local economic resilience

NearU

24 Feb, 2023

An inclusive local economy supports health: supermarkets that stock fresh produce, shared/ public mobility methods to help people get around the neighbourhood, businesses and local services that increasingly connect and bring together different members of the community.

Co-investments is when two or more parties invest together in a project or business. In the context of local communities, this refers to organisations sharing economic power with communities at the local level, which helps to build strong and resilient local communities. Organisations and communities form a positive feedback loop, where organisations are better set up to support the health and economy of the communities in which they operate in the long-run.

Organisations that share economic power with communities at the local level are, in turn, more resilient themselves. Following the 2008 financial crisis, businesses that diversified their community of co-investors were better prepared for the market shock and they were better set up to support the health and economy of the communities in which they operate in the long-run.

- Project Equity is helping businesses transition to employee-ownership.
- Start.coop, a national accelerator for cooperative entrepreneurs, is advancing new business solutions addressing all of the social determinants of health.

These are examples of businesses that engage their community members beyond pure consumerism to become active decision-makers and co-designers of their local economies. However, co-operativisation is only one part of a bigger conversation to imagine new political economies that are not centred on short-term value extraction but rather community health and wellbeing. From Zebras Unite to RadicalxChange, the movement to build a new economy grounded in steward-ownership and long-term purpose is proving its value in a climate of increasinly greater uncertainty.