The Impact Multiplier accelerates economic recovery and increases the efficiency of support to vulnerable businesses. Regions and cites from across Europe have joined forces to use the Impact Multiplier tool to rescue their local SMEs.
Regions from southern and western Europe joined the Impact Multiplier consortium. The consortium is now looking for new partners in the Nordics, Eastern Europe, Scotland and Ireland.
Governments can increase the impact of their expenditures when they use the Impact Multiplier. This FinTech tool makes government money circulate more often in the community, multiplying the sales of local SMEs. This is urgently needed for those SMEs that suffer the effects of the covid-19 crisis. The FinTech software has been successfully tested in regions in Sardinia, Catalonia and in Central and South America.
Consumers who want to support local businesses often decide to buy local. When they buy local using the Impact Multiplier, the money they spend continues to stimulate local production, trade and consumption in a local SME network for a longer time. Local businesses pass on the buy local obligation for a minimum period of 1 year. Therefore the Impact Multiplier enhances the impact of the consumer’s “buy local” efforts.