Local and regional governments
Cyclos4Pro introduces innovations to help regional and local authorities to stimulate their economies. They can channel existing funds and expenses through a local payment environment in which innovative tools help to increase the local multiplier. The software also provides tools to create more and cheaper credits for local SME’s.
The Bristol Pound is the UK’s first city wide currency. The local Credit Union, a formal financial institution, manages the Cyclos accounts. The Bristol City Council accepts Bristol Pounds for local taxes, while the Mayor makes a strong statement of support by accepting no less than 100% of his salary in local Pounds. Some 20 other UK cities closely follow the progress in Bristol and showed interest to copy its example.
Three Catalan cities, supported by the Catalan cooperative movement, prepare local payment systems in order to make the circulation of money more effective. Using special Cyclos features the payment network provides local SME’s more clients and more and better options for credit.
The B£ encourages people to think about where their money is going and commit to spending a proportion of it locally. It helps to maintain the diversity and uniqueness of Brixton’s shops and market and build pride in Brixton. On the environmental front, the B£ supports local businesses in sourcing more goods and services locally, reducing their carbon footprint.
The Autonomous Region of Sardinia partnered with the fast growing business community currency Sardex, to fight unemployment of youngsters in the community using Cyclos technologies. The Sardex model has been copied throughout Italy. Click here for more information.
At the Bristol Pound we encourage people to spend their money with local businesses in Bristol and the surrounding region, to stimulate and generate a stronger local to regional economy. Our target population is around 1m making us the largest scheme of its kind in the UK. We spent a year researching what system would cope with our ambitions, talking to many experts in the field. In the end Cyclos was the only contender.
We want to highlight the flexibility Cyclos offers in terms of parameterization, as well as the ease of use that is provided by the graphical interface for both the end users and the system administrator.