CANCELLED: Workshop 2 & 3 - Understanding your local economy

Tuesday, 11 November, 2014 - 10:00 to 16:30
John Storer House, Wards End, Loughborough, Leicestershire LE11 3HA

This free workshop, including a light lunch, will combine workshops two and three* in the ERDF Reach & Impact Project prospectus, “Introduction to understanding your local economy” and “Understanding your local economy and measuring your economic contribution”.

This workshop is suitable for trustee and management committee members, chief executives, managers, funding advisors and development workers who are new to or are in the process of developing and delivering projects in the community with a community focus.

To book your place click here.

Introduction to understanding your local economy

Community organisations can make important and positive changes to their local community economy that enables economic growth and development to happen. To make informed decisions VCS organisations need a thorough understanding of their community’s local economy.

This workshop focuses on helping you to identify, develop and evidence the demand for a project that meets the economic needs of the community. The session will help you to assess the economic needs of your local community, identify where you can find statistical data to support the need for the project and the steps needed to develop and scope the project.

By attending this workshop you will be able to:

  • Understand how your local economy works and learn how money flows into and out of the community;
  • Consider ways in which community-based actions can be used towards developing a more sustainable local economy; and
  • Be able to recognise sustainable local economic development through the use of economic measurement tools and techniques.

Understanding your local economy and measuring your economic contribution

This workshop follows on from ‘Introduction to understanding your local economy’ and looks at how you set up a framework that will help you measure your economic contribution and impact.

In the current economic climate, more than ever before, commissioners and funders want to see value for money – as do the trustees of charities, directors and investors. Organisations are often asked to demonstrate their value even when that means trying to put a financial value on things that were previously considered immeasurable in financial terms. The task is to demonstrate why investing in a particular project or organisation will provide added value through the outcomes they achieve and the changes they bring about.

The session will focus on the utilisation of recognised tools and techniques for the measurement of economic impact within an organisation e.g. LM3, Social Return on Investment (SROI) and other relevant tools. We will look at simple ways for smaller organisations to provide their economic impact and consider some economic indicators and financial proxies that are being used in current practice.

The session provides a step-by-step introduction to defining how you measure the social and economic impact of an organisation. It offers insight into applying a simple process to develop a social/economic impact framework for an organisation.

By attending this workshop you will be able to:

  • Understand the importance and relevance of measuring economic impact;
  • Learn how to develop a framework/system to measure the economic/social impact of your project/organisation; and
  • Explore various tools that can help to measure economic and social impact.

*If you only want to attend one of these two workshops please email with the workshop name after you have booked your place.

One East Midlands
0115 934 8471