Support for businesses

Community Wealth Building Pledge

The Mayor’s community wealth building (CWB) approach focuses on the pursuit of economic, social and environmental justice, so that long-term prosperity, wellbeing and fairness for all our residents and organisations alike in the borough is achieved. It is underpinned by the following principles:

Leading by example
A fair deal for Newham workers
An inclusive economy.

Community Wealth Building: For a fair and inclusive Newham (PDF)

Objectives of the scheme

A central component of Mayor Fiaz’s Community Wealth Building Strategy is supporting organisations across Newham to succeed and enabling them to embed Community Wealth Building practices in their daily activities. The Community Wealth Building Pledge is the primary vehicle through which Newham Council can support and encourage local organisations to identify, and deliver, on the tangible ways they can achieve the ambitions outlined in the Community Wealth Building strategy. The pledge also enables the Council to better understand the needs of local businesses by capturing their contribution to building a strong and resilient local economy.

How it works

The pledge is a formal, yet voluntary, commitment from organisations across Newham to make decisions and take actions that tangibly demonstrate their support for the Community Wealth Building agenda. Businesses, organisations and schools who support the pledge will gain one of the three statuses listed below:

Community Wealth Building Signatories – status awarded to those who support the principles outlined in the Community Wealth Building Strategy and are committed to working towards them. Those who sign up to be Signatories are making a commitment to achieve Champion status in the future.
Community Wealth Building Partners – status awarded to those who have demonstrated their commitment to community wealth building by delivering on a suitable selection of criteria as outlined in the pledge.
Community Wealth Building Champions – status awarded to those who, having already achieved Partner status, continue to evolve, innovate and achieve community wealth building goals, serving as ambassadors for the community wealth building agenda, or applications for Partner status that are considered outstanding.

Pledge ambitions

The Community Wealth Building Pledge ambitions are closely linked to the community wealth building principles reflecting Newham’s overarching objective to achieve long-term prosperity, wellbeing and fairness for local residents and proactively respond to the borough’s Climate Emergency. Businesses who apply for one of the three statuses outlined above will be committed to achieving the following ambitions. The underlined commitments are the minimum requirements for organisations applying to be CWB Pledge Partners or Champions:

Theme	Pledge (I pledge to…)	Non-exhaustive list of ideas
Buy local	help boost the local economy by procuring the goods and services of local businesses in a way that maximises social value	Have at least two Newham suppliers within the existing supply chain Seek out quotes from Newham businesses when procuring new services/products Prioritise social value in the procurement process through ensuring businesses within the supply chain meet key criteria
Prioritise sustainability	reduce the carbon footprint of my business by working in ways that help protect the natural environment and are environmentally sustainable	Switch to a renewable energy provider Actively encourage staff to engage in green commuting where possible i.e. Cycle to Work Scheme which is about promoting an alternative way to travel to work. Create a sustainability, recycling and/or paperless office/business premises policy
Be a fair employer Be a fair landlord	tackle inequality and in-work poverty by paying my employees a fair and decent wage	Become accredited as a Living Wage employer with the Living Wage Foundation
Be a fair employer Be a fair landlord	create fair and flexible terms that take into consideration the individual circumstances of local business tenants	Adhere to the good practice standards and guidance outlined in the Code of Leasing Business Premises Offer greater flexibility on rental structures and lease extensions Include break clauses within the lease
Invest in staff	create a diverse working environment in which staff feel represented, supported and invested in	Take inspiration from the Mayor of London's Good Work Standard, which includes programmes to tackle racism, inequality and disproportionality Become accredited with the London Healthy Workplace Award (LHWA) Become a ‘Youth Friendly’ employer and create opportunities for young people (e.g. internships, apprenticeships)
Support local residents	support the local community by employing local residents and playing an active role in community projects and initiatives	Use Our Newham Work (formerly Workplace) as first point of contact when recruiting new staff Engage in responsible business practices that contribute to improving the local community Ensure that business activities with the local community result in increased social integration
Pursue innovation	seek new and innovative ways to pursue CWB within my business	Find creative and interesting ways to embed CWB principles in day-to-day business activity Establish partnerships with other pioneering businesses within Newham Identify innovative ways of supporting local initiatives

Benefits of becoming a member

The pledge has been created to provide a common framework for all organisations, especially businesses, to understand and act on community wealth building. It is not a competition but has been designed to recognise the achievements of all organisations in Newham and is reliant on organisations making decisions and taking actions that drive forward community wealth building across the borough. If your organisation is successfully awarded with Partner or Champion status, you will:

Be recognised for your exemplary community wealth building organisational practices
Be able to market and build your brand around your status including self-promotion to the residents of Newham, suppliers, customers, investors or even when recruiting staff and retaining current workforce
Have your status kite mark added to your Newham Business Directory account should you have one
Be showcased and promoted on the Council’s and Royal Docks’ websites and other social media platforms
Be given opportunities to network and work together with other like-minded businesses
Be notified when any future local business grant scheme becomes available.

Become Community Wealth Building Pledge-accredited

To apply for the accreditation and/or Pledge grant, please visit our Phase 4 Community Wealth Building Pledge Additional Restrictions Grant page

Advice and guidance page

To achieve any of the three statuses, organisations will need to complete an online application form outlining how they have addressed the identified categories. The pledge has been designed to be flexible to reflect the varied circumstances, and abilities, of organisations to work towards the stated goals. Organisations are, therefore, not required to deliver across all themes or their associated ideas, but should choose those that are most relevant to them.

Once you apply using the online form, Our Newham Business and Enterprise team will assess your application based on the information provided and will inform you of the outcome. Please direct any queries to [email protected] or call on 020 3373 7373.

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