Crowdfunding and its Potential for Funding Public Infrastructure
Reviewing the conclusions of the recent Financing for Society report by Leeds University
Against a backdrop of austerity, UK local authorities are being asked to lead on some of the biggest issues facing the country, including decarbonisation, the building of social housing, and providing effective social care to an ageing population.
Delivering on this agenda within such constraints requires service and operational innovation whilst maintaining the support and trust of local residents.
If local authorities are to meet these ambitions over the coming decade, sourcing competitive capital and working with residents to find solutions will be essential.
The Financing for Society report provides a landmark assessment of the suitability of crowdfunding for the public sector. Examining six case studies – three UK local authorities and three NHS bodies – the report:
– helps to overcome knowledge barriers with respect to crowdfunding;
– provides a decision-making tool to demystify the process of utilising crowdfunding as a public body;
– shows how crowdfunding can be utilised to create new forms of civic engagement with residents and service users;
– presents a new Community Municipal Bond structure co-created as an output of the project;
– assesses if the internal capacity required to develop crowdfunding for the public sector could be minimised so that it mirrors that for the PWLB, or via PPP project finance, as common sources of public sector funding; and
– offers a series of recommendations for what should happen next for public sector crowdfunding.
The report concludes that the public sector is yet to make the most of crowdfunding and to realise the financial and non-financial benefits it has been shown to generate.
This webinar will review the key findings of the report and explore practical ways its conclusions can be put into practice.
Karl Harder, Director, Abundance
Dr Mark Davis, author of the Financing for Society report
Rosie Pearson, Corporate Director (Business Development) & Programme Director, PPP & PFI at Local Partnerships LLP
Members can stream the webinar and download the presentation slides below.
You might also like to read the Financing for Society report (please note that you will be directed to an external website).