Currency Pilot: Brixton £ in Lambeth

London, UK

Brixton market1Brixton Pound (B£) will be expanding its activities and feeding knowledge into CCIA’s international partnership of currency initiatives. Through the partnership the B£ will continue to build its infrastructure and relationships with local SMEs, providing Lambeth Council with useful data about the benefits and possibilities of community currencies as tools to stimulate local economic growth and civic involvement.

After testing the feasibility of launching an additional currency in the borough, the CCIA Lambeth Programme opted to support the development of the existing community currency, the Brixton Pound, in order to comprehensively test and understand the benefits community currency can provide to a local area.

The Brixton Pound has steadily gained users over the past 5 years of operation, and has a strong brand and reputation which has brought international attention to the area.

The CCIA programme will provide practical help and resources for the Brixton Pound as they scale up and move towards self-sufficiency. This work will inform the eventual expansion of community currency to new areas in the borough and learnings will feed into the package of toolkits and resources for currency initiatives produced by the partnership.

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Plans for CCIA in Lambeth:
  • Assist the Brixton Pound with development of communication, monitoring and infrastructure tools including an updated website, electronic banking platform, and an outcomes monitoring framework to measure and demonstrate the social value of community currency
  • Broker relationships between the Brixton Pound and council business units to expand existing pilots like the business rates acceptance scheme
  • Continue to test the usage of community currency as an incentive/reward for participating in co-op council service delivery, and present findings in a feasibility report
  • Conduct financial modelling to help the Brixton Pound continue to move towards financial sustainability
  • Produce a toolkit for Business Improvement Districts (BIDs) and local community groups with guidance and recommendations for use and operation of community currency schemes
  • Co-produce an international conference on community currency with the Brixton Pound