Spend local

There’s a lot of talk of ‘buying local’ and encouraging customers to buy from small, family-run shops rather than big supermarkets and media giants such as Amazon these days. There are now a number of cities and areas that have created their own currency to make sure that the money that is spent in the city, stays in the city.

Would you spend local? The Brixton pound has been flourishing for a while. Yep, Brixton, the small suburb in South London has it’s own currency that is designed to support Brixton businesses and encourage local trade and production. It’s a complementary currency, working alongside (not replacing) pounds sterling, and gives local traders and customers the chance to get together to support each other.

And Brixton isn’t the only place, Bristol also has it’s own currency as does Totnes, the ‘Stroud pound’ in Gloucestershire and the ‘Lewes pound’ in East Sussex. Schemes have also appeared in Canada, the US, France, Germany and elsewhere.

But what’s the use in having cash that’s worthless in the next town or borough over? According to supporters, localised currency is a great way to stimulate the local economy. “Of all the money spent in Bristol, most of it leaves the city almost as soon as it’s spent. It goes up to the financial institutions and gets lost” says social entrepreneur Chris Sunderland. “What people can be sure of with Bristol pounds is that they’re circulating in the city and that’s where they’ll stay.”

So, what do you think? Would you support a local currency? And is there anywhere else that we’ve missed off that has its own currency?

@all: Would you use a local currency?

9 Comments

jenant66 • 17/05/2017 - 14:42

Fuck yea! I'd be all over the Peckham Pound like a tramp on chips.

Giggles04 • 19/05/2017 - 19:54

I would prefer to stick to Pounds Sterling, rather than restrict spending by secregating areas of the country to local currencies. However, I think a different way of encouraging local loyalty spending could be encouraged.

Giggles04 • 19/05/2017 - 19:57

Oops, spelling mistake *segregating

applepie • 22/05/2017 - 20:54

No for me it is bad enough changing the notes then the pound coins much prefer to pay by card.

lizardbush • 23/05/2017 - 22:00

There's not enough info here to decide. How do you get the local currency? What does it cost? How do the prices compare?

TheCraftyLass • 09/06/2017 - 22:54

I think it's a great idea, and assume that it's either a like-for-like exchange rate, or there is some benefit to using the local currency in the form of discount or reduced price (similar to any other loyalty scheme)

nessgal29 • 10/06/2017 - 15:13

I personally would prefer to stick to the sterling pound, I live in an area of Scotland that is nice, but the local wee shops are expensive, even if you are just popping in for something quick. I much prefer my Aldi, and Morrisons etc and why have a currency that is restricted to one area? Would be irritating to go somewhere else but not be able to spend the money I have??

Geepers • 18/06/2017 - 19:57

This sounds very interesting and it would be good to have more detailed information about it. I am all for supporting small local businesses as much as I can.

Ellisa • 19/06/2017 - 17:32

I think this is a fabulous idea and I would love to learn more about these types of initiatives. I'm not sure it would be appropriate for me to take this as a form of payment (I'm a PT) however it would love to spend money within my local community, in the knowledge the funds would stay within that community and help it grow as a whole

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