Homegrown money is now circulating in Nelson. Will it be a boon for local business?

Considering local dollars

If you’re a little confused by the idea of having a new local currency circulating through Nelson, you’re not alone.

If you’re a little confused by the idea of having a new local currency circulating through Nelson, you’re not alone.

We too wondered why anyone would want to trade their Canadian money for the new Columbia Community Dollars. Like many Nelsonites, we’re big supporters of anything that encourages people to shop local — but why not just spend the money we already have at local business?

One reason to use the new currency, at least initially, is that every community dollar begins its life in the hands of a local non-profit group. In the coming months, people can support groups like the Kootenay Co-op Radio or West Kootenay EcoSociety by buying community dollars from them.

Usually when you donate to a non-profit all you get is that warm fuzzy feeling of doing something good, but by buying the community dollars you actually get all of your money back, albeit in a different currency.

The community dollars you buy can be spent on food, books, clothing or anything else available from a participating local business. Already dozens of local shops have agreed to accept the local currency.

But after the new money has been bought and spent once, it’s up to individual businesses to keep it in circulation. This will be the real test to see if the currency is viable.

What will a business do with money it can’t use to pay the lease on its building nor to buy products from its suppliers? The answer remains to be seen.

Part of the reason we spend our dollars at local businesses is because we want to see them thrive. Sometimes it’s inconvenient or more expensive to shop local, but we do it for the good of the community.

We hope that once we’ve gone through the effort of buying community dollars and spending them at our favourite shops that we’re helping the businesses and not leaving them with money they can’t spend.

 

 

 

 

 

 

 

 

 

 

Just Posted

South Slocan woman killed in Friday crash

Police continue to investigate cause of fatal crash

Ammonia leak shuts down Nelson Curling Club

It’s not yet clear when the leak was detected

Four points for Fawcett as Leafs win 7th straight

Nelson edged the Fernie Ghostriders 4-3

What’s Up: Things to see and do on Family Day

There’s plenty of fun to be had across the West Kootenay this coming long weekend!

Seven Nelson rec projects granted Columbia Basin Trust funding

Nelson’s baseball and tennis clubs were the big winners

Trudeau’s principal secretary, Gerald Butts, resigns amid SNC-Lavalin furor

Butts categorically denies the accusation that he or anyone else in the PMO improperly pressured former attorney general Jody Wilson-Raybould

Lost a ring? This B.C. man will find it for you

Chris Turner founded The Ring Finders, an international directory of metal detector hobbyists

Poverty coalition has high hopes for B.C. poverty reduction strategy

Funding allocation expected to be released with 2019 budget

East Kootenay mine deaths prompt safety initiatives

Teck produces educational video, introduces new procedures after contractor drowns at Fording River

‘How did we get here?’: B.C. mom of transplant recipient worries about measles outbreaks

Addison, 7, cannot get a live vaccine because she has a heart transplant

Bashful Balladeers bring voices to Vernon

Despite hiding behind masks, talent shines with this group

NDP Leader Jagmeet Singh calls for public inquiry over SNC-Lavalin questions

Vancouver member of Parliament Jody Wilson-Raybould resigned from cabinet last week

Canadian airlines waiting for guidance from Ottawa over X gender option

Major U.S. airlines said they will change their process so passengers can identify themselves along non-binary lines

Moose Hide campaign takes message to Canadian schools

Campaign launches new K-12 education platform

Most Read