The rationale for venture localist investing arises from your ability to control the risks.

FORBES: Sick Of Wall Street Scandals? Then Invest Like Warren Buffett--In Local Entrepreneurs

This is the opposite of the localist approach to planning the government has promoted since the election.

BBC: Planning shake-up: Time running out for local councils

In these circumstances, the government's localist pretensions will be truly tested.

ECONOMIST: Resolving Labour??s local difficulties