ACRE launches an Australian first initiative

Australia’s first support service and fund to help rural communities own, run and sustain assets for local renewal was announced last month at a national convention in Lithgow, NSW. The initiative ‘Community Owned Australia’ created by Beechworth-based Australian Centre for Rural Entrepreneurship (ACRE) delivered the news at the Sustainable Economic Growth for Regional Australia (SEGRA) summit. The not-for profit company SEGRA Foundation works to advance rural, remote and regional Australia. ACRE co-founder and CEO Matt Pfahlert said the initiative has been backed by seed investment from three philanthropic foundations – Paul Ramsay Foundation, AMP Foundation, and Bendigo Bank Community Enterprise Foundation. The project to be activated over coming months will be delivered in partnership with the charity Plunkett UK (focused on rural communities) and community-led network Development Trust Association Scotland. “The model adapted for Australia draws on global experience supporting more than one thousand communities,” he said. Mr Pfahlert said community ownership is a powerful driver of change with many benefits over time. “Since we announced ‘Community Owned Australia’ we have 40 communities on a waiting list and another 25 communities interested,” he said. “There is an overwhelming demand for rural and remote communities to own and operate their own businesses and services whether it’s solving a local issue or saving, repurposing or integrating business activities into one place for viability.” Among examples are childcare, affordable housing and renewable energy. “Totally Renewable Yackandandah with the spin-off and development of community-owned energy retailer and social enterprise Indigo Power is an example,” Mr Pfahlert said. “The retailer now supports 11 rural communities to build renewable energy grids at township or regional levels.” “It could also be the supermarket, pub, general store or the petrol station and we want them to survive by creating their own local economy in the future. The ACRE project began with a Churchill Fellowship awarded to Mr Pfahlert in 2013. The CEO visited 30 thriving rural communities in the northern hemisphere to explore their transition from a 10 to 20-year decline. “They all used entrepreneurship to drive local change, both social and local for the public benefit,” he said. Mr Pfahlert said the common denominator had been community asset buybacks. The CEO said the new service will provide guidance and tailored support based on an assessment of community readiness. Funding includes feasibility grants of up to $50,000 as well as a new Rural Fund - another Australian first - with concessional loan capital with up to 12-year terms for community purchased assets. He said opportunities exist for community members to create a legacy for their community and regions. “We think the fund and type of work is a way for them to lead their communities in the future and is a vehicle for supporting their local communities with a great investment. ACRE has a history of community ownership leading the buyback of the Old Beechworth Gaol by 19 families to save the gaol a decade ago. Mr Pfahlert said the acquisition created an energy around Beechworth where their kids who had moved away may return and potentially bring their own kids up. Since the buyback, ACRE has supported communities across rural Australia stretching from communities in East Gippsland, Victoria to the Gascoyne region in Western Australia. Visit acre.org.au/coa for more information about updates.

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