
In this episode, Andy Haddon hosts Professor David Charles from Newcastle Business School to discuss economic development, innovation, and the role of social enterprises in addressing local and regional challenges. The conversation focuses on:
The Evolution of Economic Development Models:
Professor Charles shares insights from his 40-year career, exploring trends like foreign direct investment, cluster theories, and the shift towards entrepreneurship. A recurring issue is the lack of consistent, long-term strategies in regional policy, leading to cycles of trial and error.The Role of Social Enterprises:
The potential for social enterprises to address both social and economic challenges is highlighted. They serve as sustainable models that prioritize community needs, local job creation, and values-driven operations.
Andy emphasizes Big River Bakery’s approach as an example of a scalable, values-driven social enterprise rooted in local culture and needs.Regional Innovation and Community-Based Solutions:
The Northeast’s potential lies in leveraging its unique strengths and resources rather than replicating external models. Examples like the cooperative network in Mondragon, Spain, illustrate how locally driven, values-based models can transform regional economies over time.
The importance of experimentation, collaboration, and learning from failures is emphasized as the foundation for creating innovative, sustainable solutions.Support Local Social Enterprises: Explore and invest in businesses like Big River Bakery that focus on sustainable, community-centered growth. Your support helps create jobs, address social challenges, and promote local culture.
Champion Local Innovation: Advocate for policies and initiatives that empower communities to develop their own solutions. Encourage collaboration between local governments, universities, and businesses to drive long-term, place-based economic development.
Be Part of the Experiment: Whether through volunteering, launching a project, or supporting a local initiative, get involved in efforts to create values-driven enterprises in your community. Small actions can contribute to building a more sustainable, inclusive future.
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