How can the private sector be integrated into participatory budgeting?
Up to now, the participation of the formal private sector in Participatory Budgets has been limited. Generally the focus has been between the public sector and citizens because the public sector is accountable to citizens for it's funding. The private sector isn't accountable in this way - only to its shareholders. However, with the development of Corporate Social Responsibility, local businesses are taking a much more active role in the communities that they're based.
A few initiatives have involved local businesses in providing money to the overall pooled pot of money to be allocated by PB, and others have involved the private sector by requesting prizes for raffles or the use of venues or catering at minimal cost or free of charge.
Given the increasing squeeze on public finances and the growing awareness of businesses as part of the community, it will be intreresting to see how the private sector becomes more integrated within the PB process. The main issue to be aware of is that whilst involvement from the private sector is welcome, it should be the community making the decisions and owning the process, not the private sector.
