Goodmoney CIC is a social enterprise that launched a local gift voucher scheme to help keep the money spent in Brighton, stay within Brighton for longer. We think they’re ace so asked them to write a blog explaining how they can benefit local businesses.
We love our city and all the incredible independent businesses that come with it. But with rents increasing and a consistent squeeze on the smaller players, it becomes harder for them to stand up next to the bigger national chains. We wanted to do something about that, so we set up Goodmoney CIC in 2015.
We launched Goodmoney gift vouchers - the UK’s first multi-merchant gift voucher for independent businesses. They offer amazing choice, support the local economy and make you feel good when you gift or spend them. Here’s nine reasons we’re great for Brighton businesses:
It’s all about local
As a Brighton-based social enterprise, our vision is simple… a new kind of financial services organisation that helps to create thriving and resilient local economies. How exactly do we do this? By making the amazing things that are happening locally more visible, and by strengthening the connections within our community to make it easier to buy and give locally.
They are the perfect, non-taxable, incentive for staff
If you’re a local employer, did you know that you can give each member of staff up to £50 worth of Goodmoney gift vouchers, without attracting income tax or National Insurance contributions? To qualify for HMRC’s Trivial Benefit allowance you just have to make sure the gift is neither linked to performance, nor included within their employment contract.
We offer free workshops to help Goodmoney members grown their business
We have collaborated with Brighton-based marketing company Stronger Stories to offer free workshops to our members, helping them to create and tell their stories.
It’s free and helps more people find your business
It’s totally free and only takes five minutes for your business to join Goodmoney and be part of our local gift voucher initiative, helping new people discover you!
Spend that Goodmoney everywhere
Goodmoney gift vouchers can currently be spent with over 150 amazing independent shops, cafes and restaurants, sports clubs, kids clubs, music tutors, local artists and many more.
We’ve got Goodfunding to grow
In 2017 we secured funding from Creative England to build a technology platform that will enable us to introduce a range of new digital products and services, allowing Goodmoney CIC to grow and support more local businesses.
Gift vouchers are big business
An estimated £20 million is spent annually in Brighton & Hove on gift vouchers and gift cards. This goes straight into the coffers of high street chains. Goodmoney gift vouchers redirect this money to independent businesses where it stays in the local economy for longer. Woop!
We also help local charities
They are available to buy from our online shop, which we also use to help smaller local charities to sell fundraising items such as greetings cards from the Hummingbird Project. If you have any products or services you’d like to donate, this is something we can help with too.
You get big bang for your buck
We take just 5% commission on any gift vouchers that you accept – meaning you receive £9.50 for every £10 voucher that you redeem.
- Being able to issue your own gift vouchers, cards or coupons
- Collaborating with other businesses to create promotional multi-merchant gift schemes – for example a gift card that can be spent with a choice of local restaurants (the most popular area of spend for our vouchers!).
- Being able to more effectively use your spare capacity to support local charities and other good causes.
- Being part of focus groups, interviews and workshops to explore the new technology that could further support Brighton’s economy, businesses and charities.