Ten years ago the Rotary Club of Detroit initiated a project, and together with over a dozen clubs plus partners, support Launch Detroit with business education, mentors, networking, and supporting microloans. Talk about creating lasting change - to date they have helped over 97 people, mostly women, start up a business. I worked in this sector for a long stretch, and I found that the people who deliver these programs are resourceful and connected to their community - great Rotarian material.
This is called community economic development - or CED - and is not your typical business area. It is not just about the start-up, but also the helping ecosystem that is around the entrepreneur, the networks of organizations, and even the group of entrepreneurs working together themselves.
So, a bunch of questions if your club is interested in CED. One of the first steps is a scan or assessment:
What are the resources and contacts in your club area?
What are the success stories and gaps that can be filled with an opportunity?
Is there a project that provides the next CED springboard?
Can you buy goods and services from these startup entrepreneurs?
Can you feature a speaker or two related to local economic development that informs your actions?
The resources available to you as a Rotarian are significant, and I encourage you to check out the Rotary Action Group for Community Economic Development (or RAGCED). This group (of 1,244 everyday Rotarians) comes from over 29 countries and, ideally, coach clubs to develop CED projects and grants. Your work can be local and with your own club, but on an international footing there are also many project examples, including a Building Sustainable Microfinance Projects guidebook. Microloans vary in amounts. In the startup world they are typically under $7,500. But most in developing countries are under $100 with very successful repayments.
A great place to learn more is at a Rotary International convention in the House of Friendship (Calgary, hint hint!). The RAGCED people will be out in force with their Project Fair. Their work supports projects that:
have a deep impact on a partner’s or a club’s local area,
alleviate poverty, and
make a difference in many lives.
have a deep impact on a partner’s or a club’s local area,
alleviate poverty, and
make a difference in many lives.
I am glad Rotary is involved in supporting entrepreneurship and that CED is an area of focus. It can also be a source for members. Take some time to listen to the needs of these community folks to see if your club needs to adapt to their needs. Much like our vocational work, CED unleashes the power of creativity and opportunity amongst members and those we serve.
What is your interesting CED idea? I hope you get a chance to discuss it with your fellow members this month.
- David Alexander