Money spent at local shops is beneficial to strengthen the local economy: small and independent retailers and businesses re-spend money locally through their supply chains instead of bringing profits to shareholders overseas. This phenomenon increases local wealth and builds local economic resilience.
Retail currencies strengthen local economies
Retail currencies are powerful instruments to motivate consumers to buy local, and thus support local economic activity and create jobs in the area. Some clever examples are the Brixton Pound (in Lambeth, London) and Bristol Pound. Residents of these localities have their own money that can only be spent in the local economy. These instruments protect local businesses and create strong connections between residents and shopkeepers beyond economic terms.
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