Exeter Pound Others Guild of Local Currencies What Is the Exeter Pound?

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Exeter Pound Others Guild of Local Currencies What Is the Exeter Pound?

Building Financially Healthy Communities Friday, 28 April 2017 Stoke Methodist Church, Devonport Road, Plymouth The leaky bucket syndrome £1 spent in a local business contributes £1.73 to the local economy £1 spent in a supermarket generates about 35p Developing Local Economic Structures Credit Unions Community Barter Local Exchange Trading Schemes (LETS) Timebanks Community Shares Community Supported Agriculture Alternative Currencies Local/Regional Banks Community Currencies Totnes Pound Brixton Pound Bristol Pound Exeter Pound Others Guild of Local Currencies What is the Exeter Pound? The Exeter Pound is the first currency, specifically designed to benefit the Exeter region The Exeter Pound is essentially a voucher or token that can be traded locally as a complementary currency and used alongside Pounds Sterling Supported by: Transition Exeter Exeter City Council Local Traders FSB Community groups Volunteers Public Aims To develop more resilience in the local economy by keeping money circulating in the economy (‘plugging the leaks’ as national and international businesses take money earned out of the area). To raise awareness and get people thinking and talking about how they spend their money To encourage more local trade and thus reduce food and trade miles, and To encourage tourists to use local businesses. +++ Plusses +++ Social and Environmental Economic Promotes city identity Raises small business profile Fosters sense of community Supports independent companies Encourages volunteering Emphasises business loyalty Prompts re-thinking of trade Strengthens economic resilience Develops e-banking Keeps money local Assists Credit Union Enhances local advertising Reduces food/trade miles Adds value to tourism How Does It work? Independent businesses agree to join in Exeter Pound Guide, Map & Website Public change money at Exchange Points and spend in shops City Council accept Exeter Pounds for Business Rates Businesses pay other businesses! Highlights Notes and specials Volunteers DEBI Award Media interest Special events Developing city pride and identity Online survey on a local currency for Exeter 73% of 126 respondents said that if there was an Exeter Pound they would buy some 40% said they would choose to take some of their salary in Exeter Pounds (21% no, 12% DK, 27% not applicable) Among traders who answered, 56% would probably accept Exeter Pounds, 27% don’t know, 17% no. Next Steps Move from novelty to normality Secure funding New website Introduce digital E-banking/App Encourage more spending Open up to new business sectors New possibilities – food clubs? Plan for re-prints How to get involved Sign up to project- leaflet to collect details Facebook/ Twitter Join as trader Show people notes Volunteer Donate Sponsor Spend locally Thank you .

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LOW-CARBON CURRENCIES: the POTENTIAL of TIME BANKING and LOCAL MONEY SYSTEMS for COMMUNITY CARBON-REDUCTION by Gill Seyfang C
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