This can be done by finding a subsidy source or by raising sweat equity or making extensive use of donated land, buildings and materials. Whether you are building a business or building housing, your organization will need some specialized skills.
You will understand what the competition is, where funding may come from, and what niches are available to help you succeed. Thebusiness developmentcategory includes creating small businesses, or providing assistance to entrepreneurs – through technical help, lending or investing – to form or expand their business. These businesses often provide a good or service in the community, and also offer employment opportunities for residents. Of course there can be overlap between this category and the real estate category – such as the creation of business incubators that provide space and assistance to small businesses within the community. Thereal estatecategory includes affordable housing, as well as retail, commercial, industrial, community service or mixed use projects. Their commonality is that they use land and buildings to create a community asset that helps fill a need. Many people equate “real estate” only with “affordable housing” projects – those projects that result in housing that is developed at prices affordable to lower-income people.
These include the ability to find and negotiate with contractors, property owners, and funding sources; an understanding of diverse public and private funding streams and the demands of funders; construction supervision, and financial management. Depending on the staff you currently have and on your resources, you may choose to partner with an experienced business or developer, or to contract for consulting help. The important point to recognize is that expensive projects are not the best place to learn on the job. One of the best ways of understanding the risks of a project is to study the market in which your project will compete. That means understanding your organization and its skills, the community in which you work, including its assets and limitations, and the business and housing climate in which you work. Studying these factors will enable you to take the steps needed to lower the risk profile of your organization and project.
This chapter contains just some examples of the actions we’re taking, but many more innovations are needed if we are to move towards a more circular economy. New business models and innovations, using circular economy principles, are transforming traditional take-make-dispose thinking with incredible speed. We want to be part of the circular economy revolution and are committed to pioneering breakthroughs and new ways of doing business.
That same national study indicates that nonprofits developed over 21-million square feet of commercial and industrial space in the years 2005 to 2008. This booklet highlights the range and diversity of economic development and housing development projects that have been implemented by Community Action Agencies across the country. Exploring radical and innovative approaches to circular economy thinking through new business models. Working with governments to create an environment that enables the creation of a circular economy, including the necessary infrastructure to collect and recycle materials.
Gunter Walzenbach is Senior Lecturer in European Politics at the University of the West of England. His main academic interest lies in the interaction between political and economic institutions for the purpose of social problem solving. Microloans are a type of loan fund that focuses on smaller loans, primarily for start-up business financing. Microloan funds are a specific type of fund which targets small loans to entrepreneurs. Loan funds can specialize and focus on lending for various products and markets (business start-ups or expansion, particular business sectors or target markets) in specific neighborhoods or regions. To make sure your organization is ready to embark on new community economic development work, you should consider the following six steps before you begin.
None of these steps is hard – many groups have done this before – but all are important to assure that your organization can succeed. You can price the product – such as housing units you develop – for the low-income customer. But, this also often requires you to find enough money to subsidize the development in order to charge less rent.