Home > Business > REconomy Is The New Economy

Are you ready to change your vision on what the economy is about? Business usually defines it as any commercial activity providing goods or services in exchange for profit. However, with globalization and the advent of the internet, we can add that nowadays, products or services from nearly anywhere in the world can be acquired from the comfort of our homes. The same applies for launching a new business and targeting customers located on the other side of the planet.

Photo: People holding a business project at the stage when they are ready to launch it can be hosted at the Facilitec building in Esch-sur-Alzette / Credits © REconomy Luxembourg

From global to local

How about approaching business from a different angle? Why not try to develop ideas locally, directly in our neighborhood or community by collaborating and trying to answer existing needs? That’s what the REconomy philosophy is all about: solving local needs in a sustainable and equitable way and not only focusing on economic growth at any cost.

Born in the UK, the movement reached Luxembourg and is run by passionate people animated by strong beliefs in this original approach. Located in the Facilitec building in Esch-sur-Alzette, the idea was to create an environment for people holding a business project at the stage when they are ready to launch it.

Collaboration instead of competition

First of all, it’s all about having a collaborative mindset. At Facilitec, future or new entrepreneurs will not stay isolated and will find a real family spirit. But in exchange, they need to be willing to help other project holders as much as they will receive help from them. Brainstorming sessions are organized on a regular basis so that people can benefit from external point of views, to avoid getting stuck with their problems. Some services (such as accounting and communication) are shared to reduce costs. Entrepreneurs should be able to dedicate a bit of time to the others to exchange skills and support each other.

Secondly, it’s all about the nature of the project itself. The main criteria are not focused on how much money the project can bring, even if the approach is still realistic as the business idea needs to be viable. Priority is given to projects with a positive social or environmental impact and related to low-tech, health and well-being or the circular economy. It also needs to be connected to the local ecosystem as much as possible and help create local employment or by answering local needs.

Facilitec is also working on an innovative approach by promoting the collaboration with local actors (administrations, local communities, neighborhood) to identify the population’s needs around which to build business solutions.

REconomy is more than a new business model, it’s a belief that collaboration can bring more to society than pure competition. Will you join the movement?

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