UK Local Exchange Trading and Complementary Currencies
Development Agency

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Starting Your Own LETS...

Send for a copy of the LETS INFO PACK (8th edition) at 10 (+£1 p&p) from LETSLINK UK. This is the essential practical guide used by most UK LETS groups - containing the UK LETS model rules, guidelines, templates and a host of other materials to make starting a LETS easy.

     A LETS can easily be started by any group of local residents. It needs a core group of at least six people, all living within easy travelling distance. Once a local scheme has been set up, the basic administration, if the tasks are spread around the core group, can be managed with a few hours work each per week (depending on equipment and resources). A great deal of support and outreach work is also needed which should not be undererestimated, for example coordinating the team, arranging social events, and liaising with other community organisations, including local clubs, residents associations, voluntary agencies, mental health user groups, churches, unemployed groups, community development agencies, co-ops, credit unions, self-employed businesses and local government. Also, liaising with regional organisitions and Letslink UK!!!

LETS Cut Costs

A LETS can be set up by any group, regardless of income. The only essential equipment is access to a computer and a photocopier. Each LETS is independent, self-supporting, and run on a nonprofit basis. Running costs are covered by annual membership fees of between 3 and 10 per person, and small charges on accounts in the local unit.

Support For Local Groups

Full information and back-up for LETS groups in Britain and Europe is available from LETSLINK UK, the world's first LETS Development Agency. Since it was founded in 1991, LETSLINK has led the spectacular development and growth of UK model LETS to well over 400 networks in 1997, and introduced LETS into 16 European countries.

LETSLINK has produced model rules and guidelines and offers the most comprehensive range of information, materials, advice and support services including national network membership, conferences, consultancy and research. Membership is on a sliding scale (Single £10, Groups £25, £50 funded, £100 well-funded). A research programme will be launched in 2002 to check up on how these guidelines have been interpreted by LETS schemes within varying local contexts, and how well new developments have been taken up, with the purpose of feeding back a wide range successful practice to the LETS community.

Local Authorities and LETS

A national information exchange for Local Authorities involved in LETS was formed, working in collaboration with LETSLINK UK. A growing number of Local Authorities are joining, or supporting existing LETS with grants or in kind support. Some are employing LETS development workers (under the Anti Poverty Initiative or Local Agenda 21) to start new groups, especially in low income areas. Issue 3 of letslink! magazine provided an overview and details of UK Local Authority involvement in LETS, but a review and update of this area is now needed, which will hopefully be part of our 2002 Survey into LETS schemes in the UK.

Resources

In addition to the Info-pack (£10 plus £1 p&p), an introductory booklet has been compiled (£1.50 /6 stamps) and detailed guidelines are available on specific questions @£5 - please phone to check what we have - we will also send a list of LETS contacts in your area if you need them. Write, enclosing cheque and/or stamps to:

LETSLINK UK
12 Southcote Road, London N19 5BJ

tel +44 (0)20-7607-7852

BEST PRACTICE GUIDE

Lets is not like money

The Benefits

Personal Stories

What to offer

How to start

Keys to success

Necessary jobs

Debt or Commitment

 

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