The Local Economy Solution

The Local Economy Solution

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Reinventing economic development as if small business mattered In cities and towns across the nation, economic development is at a crossroads. A growing body of evidence has proven that its current cornerstonea€”incentives to attract and retain large, globally mobile businessesa€”is a dead end. Even those programs that focus on local business, through buy-local initiatives, for example, depend on ongoing support from government or philanthropy. The entire practice of economic development has become ineffective and unaffordable and is in need of a makeover. The Local Economy Solution suggests an alternative approach in which states and cities nurture a new generation of enterprises that help local businesses launch and grow. These cutting-edge companies, which Shuman calls a€œpollinator businesses, a€ are creating jobs and the conditions for future economic growth, and doing so in self-financing ways. Pollinator businesses are especially important to communities that are struggling to lift themselves up in a period of economic austerity, when municipal budgets are being slashed. They also promote locally owned businesses that increase local self-reliance and evince high labor and environmental standards. The book includes nearly two dozen case studies of successful pollinator businessesa€”in the United States and abroada€”that are creatively facilitating business and neighborhood improvements, entrepreneurship, local purchasing, local investing, and profitable business partnerships. Examples include Main Street Genome (which provides invaluable data to improve local business performance), Supportland (which is developing a powerful loyalty card for local businesses), and Fledge (a business accelerator that finances itself through royalty payments). It also shows how the right kinds of public policy can encourage the spread of pollinator businesses at virtually no cost.The DNA of Success One lesson of the calculators is that yardsticks matter. When my fathera#39;s mother was born in ... Koestera#39;s thinking about business began in Omaha, Nebraskaa€”in the fourth grade. Like thousands of young entrepreneursanbsp;...

Title:The Local Economy Solution
Author:Michael Shuman
Publisher:Chelsea Green Publishing - 2015-06-09


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