Encouraging community development: Insights from the Preston Approach
In a move to promote local growth and support creative businesses, the innovative Preston Model of Community Wealth Building has shown promising results. The model, named after the city of Preston in the UK, aims to ensure that local growth benefits local communities by fostering local ownership, resilience, and sustainable economic development.
The Preston Model, funded by the Creative Industries Policy and Evidence Centre, offers a unique opportunity for creative businesses. By supporting local cooperatives, social enterprises, and inclusive procurement, the model can lead to increased local investment and ownership, stronger community networks and collaboration, improved access to local funding and infrastructure, and an ethical and inclusive business culture.
To maximise the impact of the Preston Model for creative businesses, several approaches are effective. Engaging deeply with local public institutions and anchor organisations, building cooperative networks and business alliances, promoting values-driven marketing and conscious business practices, investing in leadership development and capacity building, and developing tailored financial instruments and cooperative business models can all contribute to sustainable, inclusive growth in the creative economy.
In the first four years of its operation, local procurement spend increased significantly within Preston and Lancashire. A key component of the Preston Model is changing how procurement from anchor institutions takes place, aiming to reduce leakages from the local economy and raise levels of economic activity.
Creative businesses have benefited from the Preston Model's interventions, with a set of anchor institutions underpinning 9% of turnover in those creative businesses in Preston. The model's success has also led to growth per head and labour productivity (GVA per hour worked) all growing faster than the UK average in areas using the Preston Model.
The policy brief "Creative Industries Innovation in Seaside Resorts and Country Towns" is based on a PEC Discussion Paper and provides further insights into the benefits of the Preston Model for creative businesses. The link to access the paper can be found at https://www.our website/policy-briefings/stimulating-local-growth-through-procurement-lessons-from-the-preston-model.
The Preston Model is part of a broader campaign by the PEC, called Creative Places, which is calling for the government to invest in local creative industries. The policy brief "Three ways to support growth in the creative industries" proposes three ways to support growth in the creative industries, while the policy brief "Transitioning to Sustainable Production across the UK Theatre Sector" outlines recommendations for more sustainable theatre production.
Other policy briefs published as part of the campaign include "Authors' Earnings in the UK", which sets out areas for possible policy action in the field of skills, jobs, and education, and "Audiences and Workforce in Arts, Culture and Heritage", which provides a comprehensive analysis using census data. The policy brief "Television production, international trade and pressures to consolidate" discusses the UK television production sector as one of Britain's leading creative export sectors.
References:
- Whyman, P.B., Wright, A., Lawler, M. and Petrescu, A. (2021) Driving local growth: Lessons from the Preston Model. Preston: University of Central Lancashire funded by the Creative Industries Policy and Evidence Centre.
- The link to access the paper is: https://www.ourwebsite/policy-briefings/stimulating-local-growth-through-procurement-lessons-from-the-preston-model
- The Preston Model, which has shown promising results in promoting local growth and supporting creative businesses, is funded by the Creative Industries Policy and Evidence Centre.
- By fostering local ownership, resilience, and sustainable economic development, the Preston Model aims to benefit local communities.
- The model supports local cooperatives, social enterprises, and inclusive procurement to lead to increased local investment and ownership.
- Engaging deeply with local public institutions and anchor organisations is an effective approach to maximise the impact of the Preston Model for creative businesses.
- The Preston Model's interventions have contributed to the growth per head and labour productivity (GVA per hour worked) in areas using the model, growing faster than the UK average.
- A key component of the Preston Model is changing how procurement from anchor institutions takes place to reduce leakages from the local economy and raise levels of economic activity.
- Creative businesses have benefited from the Preston Model's interventions, with a set of anchor institutions underpinning 9% of turnover in those creative businesses in Preston.
- The policy brief "Creative Industries Innovation in Seaside Resorts and Country Towns" provides further insights into the benefits of the Preston Model for creative businesses.
- The Preston Model is part of a wider campaign by the PEC called Creative Places, advocating for government investment in local creative industries.
- The policy brief "Three ways to support growth in the creative industries" proposes three ways to support growth in the creative sectors, while another brief, "Transitioning to Sustainable Production across the UK Theatre Sector", outlines recommendations for more sustainable theatre production.
- Other policy briefs published as part of the campaign include "Authors' Earnings in the UK" and "Audiences and Workforce in Arts, Culture and Heritage", providing analysis using census data.
- The policy brief "Television production, international trade and pressures to consolidate" discusses the UK television production sector, one of Britain's leading creative export sectors, in the context of policy-and-legislation and politics.
