Community-Based Capital .. A Common social success and profit
Once we launched our activities within MIDMAR, we concentrated on the process of communities’’ empowering to lead the change. Also, we focused our attention to build and develop the community-based capital and empowering the community to manage available resources.
We understand this idea clearly in the context that this type of capital is based on confidence and mutual benefit, and it ensures bigger chance to improve the capacity of economy.
What does “Community-Based Capital” mean?
There are various types of capital within economics, most familiar is physical capital which is about cash, human resources capital which provides qualified labor, and community-based capital which combines the two previous types.
The concept of “community-based capital” reflects thoughts nor than physical objects. It gains value from the importance and power of social relations.
We can define it in general as a group of value-related systems for social, cultural, commitment, contacts and friends networks, and organizations that enhance cooperation and facilitates procedures to implement mutual benefit and economical social development.
More simply, the community-based capital is actually the funds which came from the society and goes back to society again.
Why community-based capital is important?
It’s essential for the circulation of wealth in society and assists to gain sustainable wealth for the whole society through the investment cycle, growth, revenues, and reinvestment.
Not to mention the democratic nature which reflected on the economy, as community-based capital reduces the gap between wealthy people and the middle class.
Moreover, community-based capital gives people the opportunity to have better terms of funding, as society is the investor in citizens helping them towards success instead of maximizing profits.
What are the community-based capital’s patterns?
In fact, the community-based capital exists through many institutes, such as non-profit loan funds, which generates money from the community itself.
Also, there are business funds depends on local investors in the sake of business activities. They share profits with entrepreneurs and business owners.
According to community-based capital, Confidence is the main key to success.
Confidence is essential and considered the main key, as the investor who sticks his neck with his own money to fund compatriots’ projects and reduce the cost of business for them, he doesn’t own anything other than feasibility study and honest resilience to fulfill these projects.
On the other hand, the young project owners believe that investor doesn’t consider profit as the main object and that investor appreciates the challenges facing youth in their own business.
You cannot embezzle from yourself! That is why there’s no theft with community-based capital.
Does community-based capital’s concept works for developing countries?
Well, the concept itself emerged in accordance with several challenges and factors that whether enables societies to benefit from community-based capital, or face it as a big problem.
The most challenging danger facing community-based capital to leave it for random. Thus, it shifted from the concept of sharing to mere stakes between investors and organizations.
Furthermore, a big mistake is to pay attention to “social solidarity” alone without give any importance for making profits, as in this way the whole thing would be a charity more than an investment concept ensures profit for all parts.
Some societies fall in another issue regarding the division over regions, sectors, and stakes. What created some sort of dishonorable competition.
Overall, to have powerful and successful implementing of community-based capital, there should be greater awareness of the concept itself and how to improve and implement. That is a major concern for us in our organization.
MIDMAR concentrates on maximizing community-based capital.
We believe that society itself is the main driver of change, and the desire to have a better situation is more powerful than any other.
In this manner, we are working on the enhancement of share and social responsibility concepts for many years, which supports the economy, especially in poor societies such as Syrian society that have been exhausted as a result of armed conflict.
In MIDMAR, we managed various vital projects and programs, to invest in every available instrument that enables us to reach out to individuals, organizations, and social institutions, to ensure the best interaction towards possible communities and cooperated individuals for the development of community-based capital.
We have a wide network of partnerships to fulfill this objective and to create every possible opportunity for our targeted groups to obtain the appropriate resources.
By sharing with us, you can join the change and social development journey!