BizFizz

The New Economics Foundation's BizFizz Project: Revolutionizing Local Economic DevelopmentOrigins and VisionBizFizz was a groundbreaking initiative developed by the New Economics Foundation (NEF) and the Civic Trust, with funding from the Phoenix Development Fund (PDF) and other sources. Launched in the early 2000s, this innovative project aimed to transform local economies by unleashing entrepreneurial potential within communities, particularly those experiencing economic disadvantage.Core Principles:1. Passion-Driven Support: Focusing on individuals with a genuine passion for their business ideas
2. Community-Centric Approach: Embedding support within local communities rather than centralized institutions
3. Relationship Building: Emphasizing the power of "who you know" over "what you know"
4. Asset-Based Thinking: Recognizing and mobilizing hidden community assets often overlooked by economists and policymakers
5. Target-Free Philosophy: Rejecting government-imposed targets in favor of client-focused, flexible supportThe BizFizz MethodologyInnovative Support Structure:• Local Embedding: Coaches were placed within community host organizations, ensuring deep local connections
• Word-of-Mouth Promotion: Deliberately avoided traditional marketing, relying on community networks
• Supportive Networks: Built teams of support around entrepreneurs, leveraging local expertise and resources
• Coaching Approach: Focused on individual clients, helping them follow their passion and build credibilityKey Features:1. Localized Panels: Utilized panels of local business people to provide tailored support to coaches and clients
2. Flexible Delivery: Adapted to the unique needs of each community and entrepreneur
3. Asset Mobilization: Tapped into underutilized local resources - knowledge, contacts, premises, and finance
4. Holistic View: Considered the broader context of community regeneration beyond individual businessesImpact and AchievementsQuantitative Outcomes:• Created more than 900 new businesses in deprived areas
• Supported entrepreneurs across multiple locations in the UK
• Contributed to lasting change within local economiesQualitative Successes:1. Social Capital Development: Built supportive networks around entrepreneurs, strengthening community ties
2. Resource Optimization: Mobilized previously underutilized local assets
3. Mindset Shift: Challenged traditional business support paradigms
4. Community Empowerment: Enabled local voices to shape entrepreneurial supportMainstreaming and ExpansionBizFizz demonstrated success in mainstreaming its approach through various methods:1. Scaling Up: Expanded demographically and geographically (horizontal mainstreaming)
2. Organizational Learning: Lessons from BizFizz were adopted by other parts of organizations in different contexts
3. Braiding: The approach was integrated into mainstream services like Business Link and local authoritiesInternational Reach:The success of BizFizz led to its replication in six other countries through NEF's international program, showcasing its adaptability and universal appeal.Key Success Factors1. Committed Staff: Emphasis on the expertise and dedication of project personnel
2. Strong Partnerships: Crucial for effective delivery and client recruitment
3. Community Integration: Deep embedding within local contexts
4. Flexible Approach: Ability to adapt to diverse community needs
5. Value-Driven Philosophy: Belief in individual potential and community transformationChallenges and Considerations• Replication Complexity: Success in one context didn't guarantee similar outcomes in different fields
• Mainstream Integration: Balancing the unique BizFizz approach with existing support structures
• Resource Constraints: Ensuring sustainable funding and support for long-term impact
• Measuring Impact: Developing appropriate metrics to capture both quantitative and qualitative outcomesLegacy and InfluenceBizFizz has left a lasting impact on the field of local economic development:1. Paradigm Shift: Challenged conventional top-down business support models
2. Community-Led Development: Emphasized the power of local knowledge and networks
3. Holistic Regeneration: Demonstrated the link between entrepreneurship and broader community revival
4. Policy Influence: Informed discussions on alternative approaches to economic development
5. Inspirational Model: Served as a blueprint for other community-focused entrepreneurship initiativesTestimonials and Recognition"BizFizz gives you what you need when other advisors just give you the same information they give everyone who comes through their door" - BizFizz ClientThe project's innovative approach garnered attention from policymakers, practitioners, and academics interested in alternative models of economic development and community regeneration.ConclusionThe BizFizz project stands as a testament to the power of community-driven, passion-focused entrepreneurship support. By challenging conventional wisdom and harnessing local assets, it demonstrated a new path for economic development that prioritizes individual dreams and community transformation. While specific long-term outcomes may vary, BizFizz's legacy continues to inspire innovative approaches to local economic revitalization and social change.Links:
NEF
KingstonInnovation In Business
Wikipedia
Startup Norfolk