The hottest Substack posts of mainstreetjournal

And their main takeaways

Reflections on the Local Investment Movement

58 implied HN points • 29 Jun 23
💼 Business Financial inclusion
  1. Collaboration, persistence, interdisciplinary thinking, and humor play a key role in remaking capital markets.
  2. Action steps recommended include organizing neighborhood groups, creating online listings of local investment opportunities, and deploying neighborhood funds.
  3. Exciting reports include the spread of public banking initiatives, growth of minority-owned banks, and limitations on pay-day lenders exploiting Native Americans.
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It's all happening in Nova Scotia

39 implied HN points • 23 Feb 23
💼 Business Investment Community Development
  1. In Nova Scotia, there are Community Economic Development Investment Funds (CEDIFs) that allow people to invest in community-focused projects.
  2. FarmWorks, a CEDIF in Nova Scotia, has raised over $4.6 million and provided loans to local food businesses, with investors receiving a return on investment and tax credits.
  3. Regional investment funds in the U.S. could learn from Nova Scotia's model by involving local grassroots investors and prioritizing community needs over outside investments.

Secession Goes Local

19 implied HN points • 06 Apr 23
💼 Business Entrepreneurship Financial Institutions Wealth Building
  1. A Silver Tsunami poses a threat as 2.9 million small business owners retire, impacting jobs and GDP
  2. Initiatives like worker ownership plans and New Majority Capital's efforts are emerging to support businesses under new local ownership
  3. Issues in banking, such as the collapse of Silicon Valley Bank and Black-owned banks decreasing, highlight the need for new local banks, especially for communities of color

Thank you Silicon Valley Bank...

19 implied HN points • 24 Mar 23
💰 Finance Banking Community Investment Local
  1. Locally owned banks and credit unions offer lower fees, fewer defaults, and higher interest payouts.
  2. Community banks benefit local business and exhibit restraint on risky behavior compared to mid-sized banks like SVB.
  3. SVB's failure highlights the need for public banking, particularly for unbanked individuals and communities without local banks.

Please knock on your local college's door...

19 implied HN points • 13 Mar 23
💼 Business Education Entrepreneurship Economic Development
  1. Bard College is launching a Global Certificate in Social Enterprise and Leading Change to help colleges deliver a world-class curriculum.
  2. The program focuses on local entrepreneurship to meet urgent community needs, avoiding wasteful subsidies and global investment schemes.
  3. They are seeking college teachers interested in participating in this program and welcome partnerships with organizations committed to local investment.

The Deli Lama of Ann Arbor

1 HN point • 09 Feb 23
  1. Zingerman's Community of Businesses in Ann Arbor demonstrates how local businesses can scale while maintaining their local roots.
  2. A Perpetual Purpose Trust helps protect a company's identity and intellectual property, allowing employees to eventually own a portion of the profits.
  3. The State of the Local Investment Movement is thriving, with examples like employee buyouts and community collaborations.