THE BLOG

Living Local: The Rise of Local Currency

06/30/2015 10:51 am ET | Updated Jun 29, 2016

Look to any local high street at the moment and you will see an economy on the rise. After years of high street collapses, financial crises and economic downfalls, local businesses are finally on the up and it's all thanks to one thing in particular. The rise of the local currency is something that has taken off over the last few years in the UK and ever since the initial launch in Brixton, towns across the country have been turning their attention from sterling and focusing on local finance, instead.

Where larger businesses have failed, it now seems like the underdogs are succeeding and with the current economic climate, there has been no better time in which to go local. In the South West, the presence of the Bristol pound is felt all over the region and if you were to look into the wallet of any local inhabitant, you would be met with a sea of colour and illustration. Bristol pounds don't just look good, of course. Created specifically for the use of local, independent businesses, the money enables locals to put their finances back into the pockets of their towns and in return, see their statuses grow.

With the rise and rise of the local economy, small businesses become the power players in their own towns. The shift in the buying habits of consumers means that when people do decide to part with their cash, they are increasingly doing so with thought. The contemporary shopper is, largely, concerned with the impact that their finances have on the places in which they live and by investing in local currency, they can be sure that their homes continue to thrive, both financially and culturally.

Increasingly, city dwellers and workers are looking at place over materialism. A person's status isn't about what they own but rather, where they have been and the place in which they choose to settle. By shifting from a materialistic to a home-centred way of living, societies enrich their surroundings and reap the rewards. In focusing on the local, we make the entire country a more stable and culturally rich place to be. By preserving our hometowns, we ensure their legacy and provide for future generations to come.