The Brixton Pound is a community currency operating in South London, UK. Although primarily designed to support local SMEs, the Brixton Pound also seeks to increase the sense of community cohesion and draw on the area’s history of social activism.
| Currency | Brixton Pound |
|---|---|
| Rule setting entity | Brixton Pound CIC |
| Management of quantity of new money and total money supply | Brixton Pound CIC and by users to the degree they want to purchase B£ |
| Putting into circulation | When £ sterling is exchanged at designated change points or online |
| Taking out of circulation | Only businesses can exchange B£ back to £ sterling |
Valued one-to-one against pound sterling, the Brixton Pound can only be spent with local SMEs and thereby aims to retain wealth within the community.
Many participating businesses offer discounts to those paying in Brixton Pounds – in effect offering a loyalty scheme that both demonstrates their commitment to the local economy and increases custom.
In the long term, increased links between Brixton-based SMEs themselves localise as far as possible supply and production chains to create a more sustainable and resilient economy for the area.
The Brixton Pound has demonstrated commitment to supporting independent businesses through vocal opposition to plans that would see many well-known local establishments evicted from one of Brixton’s famous high streets: Atlantic Road.
The high profile of the Brixton Pound helped the campaign gain media attention and draw 13,000 signatures on a petition protesting the evictions (the campaign was ongoing at the time of writing).
This demonstrates how currency initiatives can situate themselves within wider communal, social and political life and the benefits they can bring to an area beyond monetary value.