Banking - Finance - EconomyCommunitySME's - Small & Medium Size Enterprises – A Better way to do money!

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Local Currencies benefit local businesses, local suppliers and your local community.

Local currencies encourage and incentivise people to spend locally and support local retailers, local suppliers and jobs locally.

Some data from the U.S. – Alice Maggio speaking on BerkShares Local Currency:

$1 spent with Chain Store; only 13.6cents remains locally.

$1 spent with Independent local Retailer; 48cents stays locally.

The Multiplier Effect spending with a local retailer/supplier:

A dollar spent in a local independent retailer/supplier business is going to circulate 4 times more in the local economy than a dollar spent in a chain store.

Local Economic Return – Independent Retailers/Suppliers vs. Chain stores.

Ireland has many multinational chain stores which means not only is the vast majority of the spend leaving the locality it is leaving the country.

Bank Charges; a Big Cost for SMEs.

ISME the Irish Small and Medium Enterprises Association, Q4 2019 Bank Watch Report, identifies Bank Charges as a major cost for SMEs, with the top most burdened 3% of ISME SMEs paying between €5,000 – €10,000 in Bank Charges annually (excluding interest).

Banks are now Charging Businesses near 1% to deposit cash: Business Bank charges for depositing €100 is now c. 80c with some banks.

The initiative brings all the advantages of a local currency and much, much more.

Until now, there has been no real alternative to the euro available, but that is set to change in 2020. It is possible to run a parallel “complimentary” currency that will work for Local Small Businesses, not against them.


Fair Money is a breakthrough currency, modelled on the first and for the time being the only currency in the world that offers all the functionalities that can be expected from high-quality means of payment in the 21st century.

Fair Money benefits for shopper;
  • Simple pricing and accounting; 1 Fair Money Unit (fm) = 1 Euro.
  • Payment convenience, in store by text message or with a phone app or online. (A physical version of the currency is possible in the future.)
  • 5% discount for shoppers; shopper buy in at a 5% discount, i.e. for €95 you get 100 Fair Money Units of currency.
  • No further chargers for shopper.
  • Convertibility: Fair Money is easily exchangeable for Euro. (A stable rate of no more than 95 cents per unit. The 5% loss is to encourage people to spend their Fair Money currency locally rather than convert to euro.)
The Bristol Pound – SW England.
Bristol Pound
Bristol South West England population of 463,400
Bristol Pound Text Pay – App pay & Credit Union are Partners
Fair Money benefits for the local Retailer/Supplier;
  • Interest-free credit will be available to businesses.
  • Convertibility: Fair Money is easily exchangeable for Euro. With a stable rate of no more than 95 cents per unit.
  • Free use for private individuals, very cheap for companies. (€10 or 10fm units per month for businesses. Fixed admin fee, no other charges, no fees, no interest charges, no interest charged on credit available to businesses)
  • Easy accounting for Businesses, as €1 = 1fm.
Complimentary Currencies from Holland & the USA.
The Florijn from Holland
BerkShares from Berkshire, Massachusetts USA
  • Fair Money benefits consumers, businesses and the local economy.
  • It’s a community service: Fair Money is operated “not-for-profit” and its sole purpose is to offer the highest possible payment method at the lowest possible cost. Employees of Fair Money can earn a reasonable salary, and that is it.
  • Transparency: Fair Money provides insight into all relevant aspects of its running.
  • Fair Money is a means of payment. It facilitates fair exchange of production between people. Nothing more, nothing less. No speculation, no false scarcity.

That means more spending power for consumers and for Small Businesses. And interest free credit for businesses to expand. It is a win-win for all of us.

Pre-launch Phase:

Right now we invite everyone to join us in the pre-launch phase. We are building a database of interested businesses and consumers who are ready to go on day one.

To learn more, and register your interest, please visit

This project is being developed by Fair Money Ireland, under the guidance of Anthony Migchels, founder of the Florijn currency in the Netherlands, and in association with the PBFI and the BRUI.

Complimentary Currencies from Germany & Switzerland:

The Chiemgauer from Germany.

The WIR from Switzerland.

Further info on complementary currencies.

Germany: Cool Currencies – The Chiemgauer

USA: BerkShares Local Currency with Alice Maggio – Video Link

Austria: The Plan For The Future – The miracle of Wörgl

Swizerland: Wir Bank Swizerland – a barter exchange bank – Wir

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