What is an IDBM?
An Inclusive and Democratic Business Model (IDBM) refers to business practices that prioritise inclusion, democracy, and community wealth building. These models ensure that wealth is equitably distributed, decision-making is participatory, and the business operations positively impact the broader community. Examples of these are social enterprises, co-operatives and employee-owned businesses. The IDBM term was coined in a recent report titled “Developing Scotland’s Economy: Increasing the Role of Inclusive and Democratic Business Models” which was published on 3 September 2024.
What is the purpose of the IDBM Award?
The IDBM Award is designed to recognise and celebrate businesses that exemplify inclusive and democratic business practices, contributing to the economic and social well-being of their communities.
Who is eligible for the award?
The award is open to businesses of all sizes across Scotland that operate based on inclusive and democratic principles, namely cooperatives, employee-owned businesses. Please note that social enterprises are ineligible for this award, as they are already recognised within their dedicated categories in the Social Enterprise Awards, Scotland 2024.
Why are social enterprises ineligible for this award?
Social enterprises have their own categories within the Social Enterprise Awards, Scotland 2024, where their unique contributions are specifically recognised. This IDBM Award is intended to highlight and celebrate the efforts of other types of businesses that might not qualify as social enterprises but still embody the principles of inclusion, democracy, and community wealth building.
Why is this award important?
This award aims to highlight and reward businesses that are making significant strides in promoting equity, community wealth building, and sustainable economic models. It serves as an inspiration and benchmark for others in the industry.
Who is sponsoring the IDBM Impact Award?
The IDBM Impact Award is kindly sponsored by Co-operatives UK and eoa.
When will the winner be announced?
The IDBM Impact Award winner will be announced at the Social Enterprise Awards Scotland reception, at 5.30pm on Thursday 7 November. The reception will take place in the Garden Lobby, Scottish Parliament, Edinburgh and will be hosted by Paul Sweeney MSP for Glasgow (Region).
How can I apply?
You can start your IDBM Impact Award application here. Please make sure to check your eligibility before applying.
Where can I read the NSET – Action 44 – Developing Scotland’s Economy: Increasing the Role of Inclusive and Democratic Business Models Report?
The full report is available for download on the Scottish Government website, where you can access detailed information about the role of IDBMs in Scotland’s economic strategy.