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Supporting ther local economy is one of the key objectives of Transition Town Shaftesbury. This Autumn we will be holding a discussion day with invited speakers - and everyone is welcome to bring their ideas and suggestions for how we can support the business economy and the voluntary economy of Shaftesbury. There are so many good things going on already - such as the LETS scheme - it would be great to learn from what they are doing. Ideas suggested so far for our dicussion day include creating a Shaftesbury pound - a local currency that would attract tourists and - if developed on a larger scale - keep money circulating locally. Did you know ... that when you spend £1 in a national store 80% leaves the local economy - but spend that same £1 in a local owned shop and 80% stays in the local economy (see table below)

If you would like to be involved in a transition group to support the local economy - or have ideas for the discussion day please start by visiting the forum by clicking here or emailing us at mail:transitiontownshaftesbury.org.uk.

It's when you look at the financial impacts of local shops vs national chains that you really see the impact on the local economy. This is an example from the Transition Network

Here is an example of how powerful your shopping decisions are. Consider a supermarket where 80% of the money spent at the till leaves the local economy, and only 20% is left as wages, rates and services. If £100.00 is traded four times it leaches out of the local economy fast:

• Trades Value of transactions Leaves the local economy Stays in the local economy
• Trade 1---------£100--------------------£80------------------------£20
• Trade 2---------£20---------------------£16------------------------£4
• Trade 3---------£4----------------------£3.20----------------------£0.80
• Trade 4---------£0.80-------------------£0.64----------------------£0.16

Within four trades £100 is down to 16p left in the local economy.

If, however a local grower sells to you and 80% of the money stays in the local economy and 20% leaves then:

• Trades Value of transactions Leaves the local economy Stays in the local economy
• Trade 1---------£100------------------£20-------------------------£80
• Trade 2---------£80-------------------£16-------------------------£64
• Trade 3---------£64-------------------£12.80----------------------£51.20
• Trade 4---------£51.20----------------£10.24----------------------£40.96

£40.96 is 256 times the amount left in the local economy compared with 16p. This is why our towns are drained of resources - every time we trade with non-local trading entities, our hard earned local money leaches out of the region to shareholders and city institutions.