Social Economy Clusters

While the Social Economy Drive is a week long event, it is also the only initiative to support the growth of the Social Economy. Nine community-focussed organisations are being handed £450,000 of new funding to spearhead the levelling up of some of the most disadvantaged neighbourhoods in the West Midlands.

Working with other groups and local residents, they will use Commonwealth Games legacy funds, cash from the West Midlands Combined Authority (WMCA) and Power to Change, to help them identify specific projects that can improve their communities, and then act as a springboard to bring in further investment to help deliver them.

This could be new community facilities or services, regular events to improve health and wellbeing, or education and training opportunities.

This new investment by the WMCA is part of a £2 million plan to grow the social economy – the collective term for social enterprises, co-operatives, community-owned businesses and trading charities that use their profits to achieve positive community and environmental impact.