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voluntary organisations, social enterprises and volunteering
voluntary organisations, social enterprises and volunteering
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Democratic Finance Scotland launches to support local wealth and local control
Created: 21/11/2024
News/Events Category: Funding and Finance
Democratic Finance Scotland was recently launched, which is a partnership programme between Development Trust Association Scotland (DTAS) and Scottish Communities Finance ltd (SCF). The programme aims to support communities to be 'agents of change' by unlocking local wealth and local control through democratic finance sources and tools.
What is democratic finance?
Democratic
- Money is raised collectively from within a community
- Money is invested into democratically controlled organisations
- Investment and membership opportunities are open to all
- Communities acting independently on their own behalf
- Community assets and services are mutually owned and run
Finance
- Organisations have a greater blend of income and are less grant dependent
- Communities have networks of ‘Citizen Investors’
- Money is repayable to local people and local organisations
- Money is retained and circulated locally, boosting long term community wealth
- Investment opportunities are affordable and fair, and best suited to community and social enterprises
What support is available?
The team at Democratic Finance Scotland will provide practical, hands-on support to democratic, community-led organisations to build their financial resilience and control. Support will be offered to explore local, citizen-driven sources of income such as community shares, community bonds, one-off community lotteries and local legacy giving etc, to encourage a move away from grant dependency. There will also be a focus on funding and investment opportunities from the renewables transition with a focus on ensuring a JUST transition benefiting communities across all Scotland.
Democratic Finance Scotland is open to community and social enterprises either with, or with a desire to adopt:
- A democratic, fair and open governance structure
- An enterprising, empowering and sustainable approach
- A grassroots focus on securing, boosting and retaining local wealth
To find out more visit www.democraticfinance.scot or e-mail [email protected]
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