Post event page: Workshop 2 & 3 Understanding your local economy

Taking place on Tuesday 7 October in Lincoln this workshop combined two 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 was aimed at 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.


Workshop 2: 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 focused on helping delegates to identify, develop and evidence the demand for a project that meets the economic needs of the community. The session will helped them to assess the economic needs of their local community, identify where they can find statistical data to support the need for the project and the steps needed to develop and scope the project.


Workshop 3: Understanding your local economy and measuring your economic contribution

This workshop looked at how delegates can set up a framework that will help them measure their economic contribution and impact.

The session focused 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. It also looked 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 provided a step-by-step introduction to defining how to measure the social and economic impact of an organisation. It also offered insight into applying a simple process to develop a social/economic impact framework for an organisation.


Presentations

Presentations from workshops two and three are available to download below: