The benefits of local shopping have been documented by studies in the UK and US. On average supermarkets and other large chains spend just 10-12 pence in every pound in the local community (New Economics Foundation, 2002). The rest ‘leaks out’ to shareholders, international suppliers and national support and distribution services. In contrast, small independent shops are more likely to employ local firms for these services and spend any profits locally.

A study of the West Michigan Economy in the U.S. concluded that if residents of the area were to redirect 10 percent of their total spending from chains to locally owned businesses, the result would be $140 million in new economic activity for the region, including 1,600 new jobs.

Small businesses account for the majority of UK private sector jobs: 59.2% in 2007, around 13.5 million jobs overall*. However, figures from the Federation of Small Businesses show dramatic decline in local shops and services across the UK, with 2000 local shops closing each year and 39 pubs closing each week. During recession, supporting local businesses is particularly vital and the Brixton Pound is a practical way for local people to vote with our wallets for a strong and diverse Brixton economy.

*  Department for Business, Enterprise and Regulatory Reform (2008) Statistical Press Release, 30 July.

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