...and the money is still circulating.
In a nutshell 24 people have spent £3,800 into the local food economy over the last six months here in the Lancaster and Morecambe area. Thats with over 80 local food businesses. Of those the most spent with, 30 businesses in all, have demonstrated that they are re-spending that money with othe rlocal suppliers.
In a nutshell 24 people have spent £3,800 into the local food economy over the last six months here in the Lancaster and Morecambe area. Thats with over 80 local food businesses. Of those the most spent with, 30 businesses in all, have demonstrated that they are re-spending that money with othe rlocal suppliers.
60.9%
That represents over a 60% re-spend, bringing the total up to £6,100. Furthermore, some of those businesses that have received your re-spent oney have gone on to spend it locally again. Every time this happens it creates a further link in the local spending chain.
Over Christmas I will be crunching the fugures to show how much the further busienss 2 business spend has added to this total. And I will be looking out for the first loop. This when a certain amount of money is re-spent with someone already in the spending chain. When that happens 100% of the money is recycled without any loss outside the spending system.
To put this in context our local economy is our spending system with money constantly entering and leaving the system (imported and exported money) all the time. The more we can identify and plug the gaps the longer that money can work for local people and the local economy.
To put this in context our local economy is our spending system with money constantly entering and leaving the system (imported and exported money) all the time. The more we can identify and plug the gaps the longer that money can work for local people and the local economy.
If you want to join in the process just register to take part here on the website. Simples.