XYZ Model Empowering Arts and Commerce: The Implementation Effects of the 'Preston Model' in Lancashire
Lancashire Embraces a New Model for Creative Industry Revival
Lancashire, a county in the North West of England, is proposing a unique approach to revitalize its creative industries and boost the local economy. Known as the "Lancashire Model," this strategy focuses on leveraging local creativity, community engagement, and small-scale artisan enterprises to drive economic revival and resilience.
At the heart of this model is the belief that placemaking and the "maker economy" can foster economic regeneration. Artisan markets, such as the Whalley Artisan Market, serve as platforms for microbusinesses and start-ups to connect directly with customers through authentic, handmade goods. This approach values human connection and storytelling over impersonal online retail, providing a unique selling point that counters challenges like high street decline, rising vacancies, and competition from large retailers.
The Lancashire Model aims to embed creativity and craft into rural economies, creating sustainable microbusiness ecosystems that grow from grassroots creativity. By reinvigorating rural and small-town economies with genuine, community-rooted markets, the model seeks to position Lancashire as a hub for authentic creative production and cultural engagement.
Institutional support for the Lancashire Model comes from bodies like Creative Lancashire, linked to Lancashire County Council. This organization provides services and development support to foster the creative economy and strengthen the county's economic fabric through creative industries.
Dr Adrian Wright, the Deputy Head of School (Business Development and Partnerships) and Director of Institute for Research into Organisations, Work and Employment (iROWE) at the University of Central Lancashire, is a key figure in driving this initiative. Professor Philip B Whyman, Co-Director of the Research Centre for Business, Management and Enterprise at the same university, also plays a crucial role.
The economic benefits of this approach are evident. A study estimates that the multiplier effect of actions by creative firms in Lancashire is 1.47, implying an overall economic boost of £1.47 million from a £1 million investment. This underscores the potential for the Lancashire Model to stimulate economic growth.
The worldwide exports of creative goods exceeded $500 billion USD in 2015, marking a 150% increase since 2000. This global trend underscores the potential for Lancashire's creative industries to contribute significantly to the county's economy.
However, the UK's departure from the EU has changed the way British firms trade and work with European talent in the Creative Industries. Research by the BFI has scoped the economic consequences and potential market failures of overseas mergers and acquisitions on the UK video games industry. This research will be crucial in navigating the new post-Brexit landscape for Lancashire's creative industries.
The "Preston Model" of Community Wealth Building, which supports local economies indirectly through training delivery, skill development, networking, innovation, and knowledge spillovers, also plays a role in the Lancashire Model. This model, which aims to reorganize local economies in response to stagnation, provides a broader context for the Lancashire Model's focus on community-led growth.
In summary, the Lancashire Model seeks to improve Lancashire's economic situation by harnessing local artisans and creative entrepreneurs as economic catalysts, reinvigorating rural and small-town economies, creating sustainable microbusiness ecosystems, driving greater regional economic integration, and leveraging anchor institutions for economic support.
[1] Creative Lancashire (n.d.). About us. Retrieved from https://creativelancashire.org/about-us/ [2] Preston City Council (n.d.). Preston Model. Retrieved from https://www.preston.gov.uk/council/economic-development/preston-model/
Dr Alina Petrescu is a Research Fellow in Labour Economics at the Lancashire School of Business and Enterprise, University of Central Lancashire.Mary Lawler is a Research Assistant at the University of Central Lancashire.
- The Lancashire Model emphasizes the importance of harnessing local creativity and small-scale artisan enterprises for economic revival, focusing on placemaking and the "maker economy."
- The Lancashire Model aims to embed creativity and craft into rural economies, developing sustainable microbusiness ecosystems growing from grassroots creativity.
- Creative Lancashire, an organization linked to Lancashire County Council, provides support for the creative economy and the economic fabric of the county.
- Dr Adrian Wright and Professor Philip B Whyman are key figures in driving the Lancashire Model, working to foster creative industries and economic regeneration.
- The economic benefits of this approach are significant, with a £1 million investment in creative firms in Lancashire estimated to boost the economy by 1.47 times, or £1.47 million.
- The global exports of creative goods exceeded $500 billion USD in 2015, highlighting the potential for Lancashire's creative industries to contribute significantly to the county's economy.
- The Lancashire Model is situated within the broader context of the Preston Model, emphasizing community-led growth, skill development, networking, innovation, and knowledge spillovers for a more balanced and resilient local economy.
