Fatima Enterprise Strategy Stage One Report – Context and Understanding
5. Conclusions
5.1 The regeneration process in Fatima is well underway and builds on a solid foundation of community development that extends back over two decades. As this process has moved forwards it has been recognised that the social and economic elements of regeneration in Fatima are of importance in terms of supporting the physical regeneration work.
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5.2 The Social Regeneration Plan is in place and out of this has come the proposal for an Enterprise Strategy. When combined, these documents produce a strategic framework to take the area forward and to deliver sustainable change. Moreover, there is potential for Fatima to further develop as a new model for delivering urban regeneration in Ireland and for this to be replicated in other area partnerships around the country.
5.3 More specifically, in terms of the enterprise strategy, there is a need to separate out the potential enterprises from the projects. This will be addressed in the Stage Two report. Essentially, if there is no market demand for a service and a client group that are willing to pay for the service then the project has little chance of becoming an enterprise.
5.4 While Fatima has the luxury of being in a position to invest money into potential enterprises there is still a duty to ensure that the right investment decisions are made and that the money is used to the best effect for the local community. This point will be developed further in the Stage Two report.
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