Picture this; you’ve had an awesome morning with the team at We Are, had a giggle, a catch up and a kick ass hair do, you decide to treat your hair to some gorgeous products, pay your bill and head off swishing your locks and slaying your new look and feeling fabulous for supporting a independent business.
How does your money support other businesses?
when you use the services of local businesses such as We Are, we then use that cash in more local businesses. This keeps your money circulating your local economy.
money in an independent business, the business owner is more likely to keep the tenner circulating, enhancing our local economy (by shopping in other independents, using local tradespeople, local accountants, local suppliers for example).
If people spend in independent businesses, 80p per £1 stays in the local economy. If they use larger stores, it equates to around 20-30p per £1 and virtually none of every £1 spent when shopping online. You can read more about it here.
What other business do we support?
Our favourite lunch spots The Window at Little Seaside Town.
Business meetings held at Archive.
Treats and trends for the salon mascots from House of Dawg.
Our salon greenery and yummy specialty coffees from Green Coffee.
Crystal Magick Wholesale supply our crystal bracelets and help keep our salon energy in check.
Spurling Cannon are our trusted local accountants.
Tools and equipment from East Kent Hair Supplies.
Last but not least our fellow creatives at Sunshine Tattoo.
Why cash is king
Here are four reasons why:
1. The card company charges a transaction fee as well as taking a percentage of each transaction.
2. The money is held by card company whilst money processes giving us a delay in receiving payment.
3. The bank take a fee for receiving the money into our business account.
4. The bank then charges a further processing fee when we pay that money forward in way of bank transfers for wages etc.
This means for example £1 becomes 89p.
With cash, this is simplified and £1 stays £1.
This may not feel like a lot but it amounts to a huge loss over a short space of time.
So remember cash is kinder to the local economy 🙂
Read more about how our local community helped us win an industry award here
