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Dunbar Bakery (image courtesy of Plunkett Foundation)

Build community wealth

March 2026 saw the Community Wealth Building (Scotland) Act 2026 receive Royal Assent. The legislation emphasises that successful regeneration is no longer just about delivering projects.

It’s about creating places where local people have greater influence and access to opportunities, and providing local businesses with an environment where they can thrive and where wealth is locked in, locally.

Community Wealth Building acts as a framework for place-focused activity across five interlinked pillars:

  1. Spending
    Through procurement. commissioning and wider investment, developing local businesses, supporting the creation of employment opportunities, developing shorter supply chains and maximising community benefit.
  2. Workforce
    Increasing fair work opportunities and developing local labour markets that support the strength, cohesiveness and resilience of communities.
  3. Land and property
    Growing social, ecological, financial and economic value that local communities gain from land and property assets.
  4. Inclusive ownership
    Developing more local businesses to generate community wealth, including social enterprises, employee owned firms, and cooperatives.
  5. Finance
    Ensuring that flows of investment and financial institutions work for local people, communities and businesses.

In practice, this can include supporting local, as encouraged by the national Scotland Loves Local campaign, anchor institutions procuring locally, developing and supporting community owned assets, and ensuring opportunity for our communities to shape their future and that of their town centres.

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