Competition and collaboration

We’ve been asked whether we’re going to limit the number of each type of business that can join the Goodmoney gift voucher scheme. The short answer is no we’re not, it’s open to all independent local businesses.

We know that limiting the number of each type of business in the scheme would make it easier for us to recruit businesses, but helping independent businesses compete with each other is just not something that interests us.

The aim of every Goodmoney gift voucher is to re-direct spending from high street chain stores to independent local businesses. By collaborating, we think we can create a competitive advantage for the independent business sector as a whole.

More independent business accepting Goodmoney gift vouchers means a better gift voucher, that will compete more effectively with the big high street brands.

For us the gift voucher is also a way of delivering value to independent businesses and enabling us to build a community local business people who want to work together for mutual benefit.

When we have secured funding, we plan to implement the same open source banking platform used by the Bristol Pound. This will mean that rather than waiting until the end of the month to bank money earned  through accepting Goodmoney gift vouchers, members will be able to spend it almost instantly with any business in our local supplier directory. So even if your business is not a consumer facing business that suits gift vouchers, it’s still well worth getting involved. Join today.