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Totnes Pound Update June 2008

Totnes-river

There seems to be a strong surge in usage of the Totnes Pound (TP). One trader has reported that having seen relatively few Pounds in the early months of this year, quite suddenly about three hundred passed through his till. Perhaps this is a result of the considerable publicity that the project has recently received. Our May bulletin listed just some of the media exposure of the Pound and Transition Town Totnes (TTT) over the last few weeks. A media expert has told us that this free publicity is worth hundreds of thousands of pounds. And although it is probably hard to quantify the exact benefit to any single business, it is certain that this publicity will generate interest and income for the whole community.

Of course Totnes already has a quite unique image. TTT and the TP will continue to contribute to this “unique selling point” (to use ad-speak) that distinguishes Totnes from so many other small rural towns. When people choose where to holiday Totnes will be in their minds as a destination – Totnes Pounds become tourist pounds. And it is even easier for tourists to get their hands on Totnes Pounds now, as they are going to be available at both the River Link Koisk and the Tourist Information Centre.

It is probably true at this stage that the publicity that the TP has generated exceeds the economic impact that it has had locally. Nevertheless in a sense perception is everything – it becomes successful by being perceived to be successful. Certainly many people who may be were initially suspicious of the Totnes Pound are now using it as a normal part of their spending. Trust and confidence grow the project. Meanwhile the wider attention is good for both the Transition process and the economy of Totnes.

New Members

Several new businesses have recently signed up to the Totnes Pound. These include River Link, The Totnes Wine Shop, Movement of Being classes, and the Boogie Night disco at the Seven Stars. We are hoping to have a recruitment drive now that we have new publicity materials so please encourage the shops you use to join up.

Use your Totnes Pound for discounts!

More and more businesses are beginning to offer discounts for people who use Totnes Pounds, as a reward for local loyalty. River Link will give 10% off for return tickets to Dartmouth that are purchased with Totnes Pounds. Salago and Indian Connection are also introducing discounts this month. See the Totnes Pound pages on the TTT website for more details. You can also get a discount for Transition Town events if you use Totnes Pounds. We are really pleased that businesses are supporting the currency in this way as it, reminds and encourages people to use the Totnes Pounds. We hope to provide some additional publicity for those businesses that are supporting the project in this way.

What’s your ‘commitment’ to the Totnes Pound?

spend-pound At a recent meeting regarding Community Supported Agriculture Noel Longhurst, one of the project team, spoke about how the Totnes Pound might support the local food economy.

In the longer term the sterling currency which ‘backs’ Totnes Pounds might be used to support local growers or other small businesses, helping with cashflow or start up finance.

To get to that point we need more notes in circulation. Noel spoke of the need to make a commitment to always having a few Totnes Pounds on you. If 1000 people made a commitment of trying to keep 20 Totnes Pounds on them at most times it would mean that in excess of 20,000 would be in circulation.

In practice this means that when you spend some, make sure you get some more again in the near future, either as change from a busy shop or via the collection points. The fact that more and more businesses are offering discounts for Totnes Pound purchases means that there is even more reason to make sure you have some on you.

Publicity Material

At this very moment the new brochures and window stickers are with the printers, and should be appearing at participating businesses within the next few weeks. The new brochure has been designed by a local design student Jessy Atkinson and it reflects the project's commitment to showcasing the skills of local people. It was also printed free of charge by Colour Works, we are grateful for their ongoing support for the project.

Market Stall - “an interface with the street”

There is a now a Transition Town stall on most Fridays through the summer (weather permitting) outside the Costume Museum to advertise and explain TTT and the TP. (Many thanks to them and to Harlequin Books for their support). Come and say hello. Already many useful conversations have occurred and many TP’s been exchanged. We also had a stall at Dartington Hall Open Day and plan to be at the Totnes Show.

Volunteers

We could always do with more help with the project. There are lots of different roles that people can do. Email us via the website if you are interested in helping out.

To see the previous update follow this link.

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