Source: Northern Illinois University – Center for Governmental Studies; Michigan State University Extension; University of Wisconsin Extension; Illinois Institute for Rural Affairs
Financial support provided by the North Central Regional Center for Rural Development
Contact: Norman Walzer
E-mail: nwalzer@niu.edu
Local public officials and community leaders, in searching for ways to help revitalize their economies especially in the post-recession years, are working with business leaders in a variety of new ways. While low-cost loans and other financial inducements continue, in some communities, local groups have also organized residents to raise funds that then are invested directly in business ventures called Community Supported Enterprises (CSEs).
CSEs, or local residents investing in businesses, are not entirely new but the motivation for some of these efforts changed after the recession and are now driven by a perceived need to start, or retain, an essential business at risk of closing. One of the more popular businesses to retain, especially in small communities, is a grocery store and residents have used innovative approaches in their efforts. Other types of stores such as restaurants and bookstores contribute directly to local quality of life and have also been created and financed using CSE approaches.
