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Keeping local businesses afloat

FinTech's Fightback: Save My Local story

It all started with a tweet from Jason Bates, Co-Founder at 11:FS & Monzo:

“A worthy project would be to create a flexible, secure, and accessible e-voucher scheme (blockchain?). Customers should be able to put money towards purchases at a local businesses now, getting 1.1, 1.2, 1.3 their spend when the lockdowns end.”

UK's local businesses are suffering like never before from the current lockdown. They all don't have a steady cash flow and desperately need to sell prepayment for future services to stay afloat.

That single tweet inspired Mike Kelly, CEO of Curl.app to take action. Within a week, a team of 20+ volunteers had formed and a first version of Save My Local was designed and built.

Save My Local is a free website that aims to help local businesses generate much-needed cash flow by selling vouchers to loyal customers that can be used for future purchases.

All vouchers purchased will be able to be redeemable once the lockdown is lifted, leaving companies with enough pre-paid business to keep the wheels in motion in the meantime.

The Save My Local group say they are currently recruiting small businesses to test the free voucher platform, with Mike Kelly tweeting, “We’re super keen to urgently help as many independent businesses as possible. It costs absolutely nothing to setup and it could help save thousands of small businesses with this short term cash flow challenge before other support programmes kick in.”

Check out this incredible and inspiring inititiative today at savemylocal.org

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