Bristol Pound launched to keep trade in the city

2 min read Original article ↗

Ciaran Mundy has been working on the scheme for three years now. To him, this is much more than just a local curiosity.

He said: "If you lock the money into the area, rather than it going into the international finance system then you keep more money actually working in the city here."

The idea is to help local traders by issuing money which customers can only use in their shops. In turn, customers know that the shop must then buy its stock from a local supplier, or pay a 3% fee to convert the Bristol Pound back into sterling.

Bristol has a proud history of independent thinking and, like many cities, there are plenty of shops who claim to use local suppliers. But how do you know? Now if a cafe accepts your payment in Bristol Pound, you know they are either going to buy local or pay the penalty.

There are plenty of cafes, bookstores and shops that sell to the public in the scheme. But organisers have also signed up suppliers, like the natural food wholesaler Essential.

The firm supplies food stores and cafes across the country, and one of the directors, Richard Crooks, said they expect their customers to be using the new currency.

He said: "Quite a few of our customers have been asking us will we be taking the Bristol Pound, when can we start using it, and we've told them 'yes, we can't wait'."