Local ownership

Local ownership refers to a situation where a community, group, or individual within a specific area holds the rights and responsibilities for managing and making decisions about a business, organization, or resource within that locality. It means those who live and work in the area have a direct stake in its success and operations. This often leads to solutions that better reflect local needs, values, and priorities, fostering stronger community engagement, accountability, and sustainable development. Essentially, local ownership empowers residents to have a say and invest in their community’s growth and well-being.