Launched in 2015, Goodmoney is a local vouchering scheme for the Brighton and Hove area. But how does it work, and what can small businesses in that area do to get involved?
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What is Goodmoney?
Goodmoney was founded to move spending away from large, national voucher schemes and keep money circulating locally.
It’s estimated that £20,000 is spent on gift cards each year in the Brighton and Hove area alone. With almost all small businesses excluded from such schemes, that money goes into High Street chains rather than the local economy. That’s where Goodmoney comes in.
Who’s allowed to join Goodmoney?
Anyone can join the scheme, from breweries to bike shed rentals, ballroom dancing instructors to beauty therapists. The only condition is that you must be a business operating primarily within the Brighton and Hove economy.
Larger businesses, such as theatres and other tourists attractions, are permitted to join in, so long as they’re Brighton and Hove based.
How can businesses get involved?
There are two ways of signing up to Goodmoney. The first is as a free business member, which gets your business listed in Goodmoney’s directory, and gets you access to events and meetups for small businesses in Brighton and Hove. As a business member, you don’t have to accept Goodmoney vouchers.
If you’d like to accept Goodmoney vouchers, membership is also free, and you get the perks of being a business member as well as letting members of the public spend vouchers at your establishment.
There’s also the option to volunteer for Goodmoney, if that’s something you want to get involved with.
How to join Goodmoney
To join, simply visit the Goodmoney website, click ‘sign up your business’ then fill in the form and select what kind of membership you’d like. After that you’ll be prompted to fill in a business profile to promote your business and help potential customers understand what you’re about.
If you’ve signed up to accept Goodmoney vouchers, you’ll also receive information on how to process the vouchers if they’re spent with you.
How does Goodmoney work for businesses?
When you receive a voucher, you’ll need to deliver it to Goodmoney (either by post or in person), or you can submit an online request for them to come and pick it up from you.
Businesses who sign up get 95 per cent of the total cost of vouchers spent with them. Voucher payments come through from Goodmoney every month, but can be advanced if a business is in financial difficulty.