Radically Inclusive Enterprise Support
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Radically Inclusive Enterprise Support (RIES) is a community-based framework designed to empower disadvantaged individuals in the UK by providing accessible business resources, networking opportunities, and micro-grants. The approach seeks to transform local economies and stimulate hidden entrepreneurship without additional spending or complex applications. RIES aims to eliminate barriers for low-income entrepreneurs and drive sustainable economic growth by fostering inclusive business practices.
Radically Inclusive Enterprise Support
- 1. RADICALLY INCLUSIVE ENTERPRISE SUPPORT Making today's economy work for tomorrow Rob Allen #@business5zero
- 3. Self-employment in disadvantaged communities in the UK is half that of the national rate. If you have no money or assets, are in debt, or live in a poor neighbourhood, you are effectively barred from high value self-employment or start-up activity, regardless of whether you have the motivation and a viable business idea.
- 4. Numerous business support initiatives, from advice and mentoring, through to coaching and voucher schemes—in which the UK Government invests millions—are aimed at the right problem, but don’t provide a workable solution for those from less privileged backgrounds.
- 5. The shape of the problem and what we can do about it
- 6. Enterprise is a powerful way to empower communities, but UK enterprise support systems only work for some. They can and must work in more inclusive and effective ways.
- 7. There is an urgent need to develop new models of enterprise support that are good for communities and have the potential to ensure that opportunity and economic growth are distributed equitably.
- 8. What is Radically Inclusive Enterprise Support (RIES)? ■ RIES is a community-based economic development framework that delivers a range of social and economic outcomes. It has the potential to discover and stimulate hidden entrepreneurship. ■ It contributes to the reshaping of local economies by increasing participant’s enterprise education, their skills, their chances of earning a living and ultimately their quality of life. ■ RIES has the potential to transform the UK economy, it can be delivered without additional spending or legislation.
- 9. 3 key elements ■ A free collaborative knowledge and resource sharing network—a platform where low or no income entrepreneurs, can network, secure business opportunities, share experiences and even raise finance.This also helps understand the potential for enterprise in a community. ■ Learning opportunities, advice and support for those who are ready to launch their business. ■ A micro start-up business grant on completion of business support and advice. Grantees undertake to support other grantees and contribute an amount equivalent to the amount they receive in grant, if their business makes a profit of £5000.
- 10. Why RIES is different ■ It is inclusive, free and accessible, avoiding daunting paperwork and a cumbersome application process. ■ It starts with the person, helping to build capacity, confidence and explore ideas. ■ It provides a sustainable longer-term commitment to nurturing both the person and their ideas. ■ It identifies and drives new opportunities.
- 11. RIES REJECTSTRADITIONALADVERSARIAL DRAGON’S DENTYPE CHALLENGES,THATTENDTO REWARDTHE ‘BEST’ IDEAS, PROJECTSAND COMPANIES.
- 12. Why RIES is different ■ It recognises the funding needs of early stage, high risk ideas, as opposed to scaling of proven ones. ■ It responds to and understands the pressures that would-be entrepreneurs from low social and economic backgrounds face. ■ It does not encourage people to take on more debt via business loans. ■ It supports both commercial and social business ideas.
- 13. How you can make it happen in your community ■ Local Economic Partnerships, combined and local authorities, have an opportunity to use their new powers to work with residents (especially those from economically disadvantaged backgrounds) to develop RIES in their localities. ■ Town and Parish Councils can also kick start RIES as can HousingAssociations, Charities and Foundations and established businesses who want to give something back to their community.
- 14. Our aim should be that every community has access to RIES ensuring there are no social, economic or spatial barriers to talented individuals creating new businesses, services and jobs.
- 15. Radically Inclusive Enterprise Support should be hardwired into economic strategy it shouldn’t just be an ‘add on’ or ‘a good thing to do’. It is a prerequisite if we are to unleash the latent talents of communities to help themselves. It can be delivered without additional spending or legislation, so why isn’t it even mentioned in the Industrial Strategy?