THE Ocean Grove Business Association is set to launch a new initiative that guarantees money will be spent locally.<\/p>\n
Funded by the state government, ‘Grove Money’ will be loaded onto gift cards that can be used at participating local businesses from August 23.<\/p>\n
OGBA president Ty Simons said prior to launching the initiative the group underwent extensive research into the success of closed looped gift cards.<\/p>\n
“We received $10,000 from the state government in November after the big lockdown to put into local facilities and organisations,” he said.<\/p>\n
“We spoke to a couple other towns around the state who have tried it and they found it quite successful.<\/p>\n
“One town much smaller than ours started doing it and they have sold over $300,000 worth of gift cards.”<\/p>\n
Mr Simons said the association was expecting a slow uptake in the initial stages but hopes for a boom around Christmas time.<\/p>\n
The gift cards will be available to businesses part of the OGBA, with the annual membership fees costing $100.<\/p>\n
Participating stores will be listed on the OGBA website as well as displaying a sticker on the shopfront window.<\/p>\n
Customers will be able to put unlimited amounts of money onto the cards that can be purchased and used at any participating store, however the cards cannot be topped up.<\/p>\n
Mr Simons said he looks forward to seeing the community’s response after witnessing firsthand their support during tough times.
\n“Supporting local is why my businesses have survived,” he said.<\/p>\n
“People got behind it during the lockdowns and were really supportive.<\/p>\n
“It is a reminder of how lucky we are to be in a small community.”<\/p>\n
With international borders still shut and the uncertainty surrounding domestic travel, Mr Simons said he is expecting big months ahead for local businesses.<\/p>\n
“I was talking to someone from Tourism Greater Geelong and Bellarine and they said based on credit card spend, the Bellarine had an enormous summer compared to other years,” he said.<\/p>\n
“The last two weeks over school holidays has also been fantastic, this is normally the quietest holiday of the year, but we had a bumper.”<\/p>\n
In response to the current uncertain times, the closed loop gifts cards will be valid for up to three years.<\/p>\n
“It is guaranteed money that will be spent in the community.”<\/p>\n","protected":false},"excerpt":{"rendered":"
THE Ocean Grove Business Association is set to launch a new initiative that guarantees money will be spent locally. Funded by the state government, ‘Grove Money’ will be loaded onto gift cards that can be used at participating local businesses from August 23. OGBA president Ty Simons said prior to launching the initiative the group […]<\/p>\n