The Lean Business of Place-Based Enterprise
Within every community are two economies: one is locally generated, or “place-based,” and sustains assets at home, while the other operates remotely, extracts local value, and sends it elsewhere. Regeneration of a community depends on retaining and growing small, locally owned enterprises that simultaneously build cultural, social, built and financial capital. While big businesses dominate global markets, command the entrenched financial and banking powers and are incentivized by misguided government policy, emerging startups can disrupt the status quo and prove that local economies can compete successfully if they connect with their customer base and build capacity through local networks. The challenge for Lean Urbanism is to take charge at the association and neighborhood levels: to monitor, harness and replicate emerging local business successes and through bottom-up vigilance influence top-down policy to change not just the economic dynamics of a region, but strengthen its cultural, social and built landscape.
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