Develop a people-centered framework for local economic development
This approach is based upon the concept of an people-centered form of capitalism which redefines profit in human terms. Going further than a "community investment" company, it advocates business focussed on people and their needs with the neediest having first priority.
Profit making business investing in CDFIs provides funds for seed funding both social enterprise and conventional micro business at the local level.
Once considered radical, it has recently entered the world of mainstream economic thinking when Harvard began advocating the creation of shared value.
A earlier proposal to propagate this approach across the UK may be found at this link. It project a yield of £70 million annually for community investment while at the same time addressing the need for rural broadband access.
The profit-fort-purpose model, proven in an international context is unchanged, though the technology for the 2011 version will be updated
Peter Durrant. commented
The brilliant thing about the majority of these analyses is that community development theory and practice, a long forgotten art and skill in the history of this country, becomes a central part of grass-roots upwards, neighbourhood and peer based, street-wise credibility egalitarian-based structures. Instead of the ridiculous top-down approach of the govt. which fails to recognise the enormous, but sadly (over)-disparate, strength and experiences of thousands of organisations which already exist in the community, The historical models exist - let's use them.