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 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 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