How can businesses benefit from LETSystems?
A business would use a LETSystem for a number of reasons and in a number of ways: • to attract customers – by accepting part cash and part LETS money, the goods and services are more affordable and the fact that the customer may be short of cash is less of an obstacle. • to increase cash income – although the cash portion of the sale is now lower than the full price, total sales go up and cash income is the same or higher than before. In addition, local money has been earned which can be spent or, if desired, given to charity. • to encourage customer loyalty – customers with LETS accounts like the deal and they come back again. • to ease cash flow – if suppliers of goods and services (book-keeping or advertising, for example) accept part payment in LETSystem money, then the harder-to-earn cash is available to help with other bills. • to gain a higher profile within the community – making donations to local projects in LETSystem money is a more affordable way of gaining good PR within t
