Abstract
Social capital consisting of trust relationships between a community and its leaders can contribute to the effectiveness of neighbourhood regeneration partnerships. Engagement with partnerships can also generate vital new resources of social capital for the community. This depends on community leaders, as social entrepreneurs or community representatives. Social entrepreneurs resemble 'transformational leaders', combining entrepreneurial skills with a vision for the neighbourhood. Community representatives resemble 'transactional leaders' who interact with their followers. Ambivalence over trust between individuals and organisations in both partnerships and community reveals difficulties in accumulating social capital. The degree of social capital accumulated in a neighbourhood affects the path leadership succession takes as partnerships develop.