COMMUNITY-OWNED ENTERPRISES
A community development trust is a community-owned and led organisation, working to combine community-led action with an enterprising approach to address and tackle local needs and issues.
The aim of a community development trust is to create social, economic and environmental renewal in a defined geographical area, creating wealth within that area and keeping it there. Development trusts can be incorporated as a company limited by guarantee and is governed as a charity.
WHY DO IT?
Reimagining the Role of Community
The community and non-profit sector in Singapore has often been seen as a 'cost center', receiving funds from markets or the state. However, communities can be hubs of economic activity. For instance, community development trusts can own local assets like wind farms, with proceeds benefiting the community directly.
Sustainable Economic Growth
Economic activities driven by local needs tend to grow to an appropriate size, avoiding exploitation of people or the planet. Community trusts, once they've met a need, don't scale their business nationwide; instead, they focus on other local needs like libraries or social services.
Local Empowerment for Social Justice
Leveraging community-led economic activities can advance social justice, economic inclusion, and poverty alleviation. By focusing on community-level poverty alleviation rather than individual solutions, we can create sustainable change. This approach also aligns with local policymaker and funder priorities, potentially garnering more support.