The call comes as the Scottish Government consults on the community-led approach to economic development. 

Local social enterprises, charities and community groups must be empowered to drive forward Community Wealth Building, according to Social Enterprise Scotland.

Community Wealth Building is a new, local and community-led approach to economic development in Scotland.

Social Enterprise Scotland submitted a response to The Scottish Government consultation this week.

Duncan Thorp of Social Enterprise Scotland said: “The cost of living, climate change and the mental health pandemic are all directly driven by the nature of our economy. This is an economic model of wealth inequality, endless consumerism and wealth extraction from local communities.

“Social Enterprise Scotland welcomes Community Wealth Building as an alternative approach, that can build prosperity and begin to replace an economic system no longer fit for purpose.

“However, simply passing a Bill into law won’t mean genuine change unless Community Wealth Building is genuinely led by the expertise of local social enterprises and other community organisations.

“Local organisations must also be supported by a significant Community Wealth Building Fund, so they can truly help change the daily lives of ordinary people, particularly the most excluded.”