Kendal's Local Exchange and Trading Scheme.

HOW TO EARN KENTS!

With Kendal LETS going now for several years, we thought it might be useful to jot down some points, advice and experiences of trading. If you've joined recently, or have found it difficult to get trading, here are some important points to note and the top ten trading tips!

1 Start Trading!

Surprisingly the best way to earn more Kents is to start spending them. This is because trading generates trades. People tend to trade with people they know or have met, and buying other people's services is a great way to get to know them.

By trading you also create Kents which can only be used by other members to buy services themselves, thus increasing trading further.

2. Don't worry about 'debt'.

In the LETS scheme 'debt' is a fine thing! It is in fact a favour which you owe. It costs nothing in overdraft fees, interest etc. and we won't charge you 20 Kents to write to you! If nobody goes into 'debt' nothing gets traded. Favours owed are just as useful as favours earned. Once you get going you will be quite able to 'pay back' the favours and over time your account will balance out.

3. List ALL Your Services.

Look through the Directory and really think of all the things that you can offer. The more services you offer the more chance someone will want them.

4. Meet Other Members.

Go to the Socials and the Tea & Trading days. Get 'plugged in' to what's happening. Often things happen quicker than Directories and Newsletters come out and people need help. Someone might want help moving house, or extra accommodation that weekend, or be organising a gardening gang. Check the board in the Library. Keeping in contact with other members lets you know what opportunities are around. It's also a great way to meet others and get your services known.

You can also get a better idea of how other members are trading. What is popular, what is wanted, etc.

5. Help run the Scheme.

If you feel you must earn some Kents before splashing out, or feel you need to up your balance, there are nearly always ways which you can earn Kents by helping with Directory deliveries, manning the tea bar at a T&T, helping with the publicity, etc. All these jobs pay Kents and need doing regularly.

6 Advertise Your Skills.

Adverts in Newsletters & Directories let people know what you offer. There is only so much room in the Directory for your entry and further explanation may help people understand the service. It costs very little and shows that you're keen to trade.

Another way of advertising is to bring examples along to a T&T. Set up a display, demonstrate your skills, give away free samples of your infamous chocolate cake, do a juggling demonstration, etc. If people can see what you do they are more likely to want to buy.

7 Phone the steering group.

We get contacted by members quite a lot and are often a good source of information about members who want things done, need extra help this week etc. Let us know you are very keen to trade and they can mention this to other members and let you know what admin jobs need doing.

8. Phone Members with Wants.

The Directory lists some of the wants which members have. Although not an exhaustive list it's a good place to start when looking to trade. Go through the Directory and see what is wanted that you can do. Don't be shy in phoning people and offering your services that's why they listed them as wants after all!

9. Be Creative.

Think about what talents and experience you have. How can you turn this into a service. If you've done a lot of travelling, organise a lecture and slide show one evening. If you've spent many years raising a large family you have lots of skills and experience to offer other parents.

Whatever your experience there is a way of presenting it as a service, entertainment, or tuition opportunity for others. The steering group and others can help you work out how to present you skills.

10. Get Advice.

If you're still a bit stuck, or have some ideas but aren't sure if they would work, need more information about the scheme etc. etc. then get some help and advice. The scheme is very friendly and lots of people are more than happy to help and advise. The steering group can always be contacted for more info, and they can put you in touch with others if you have a specific enquiry.

Of course, once you have become a Kents Baron the only problem will be what to spend them on!

Trading Points Generally

Standards & Costs

Always agree the cost, time scale and standard of the service before hand. Check the person knows what they are doing, especially for technical jobs. Experience, past customers, qualifications etc are all points to consider. Because of the social nature of the scheme, people generally feel a commitment to do a good job.
As a guide, a rate of K5 an hour is suggested. Some people feel that this should be stuck to so that everyone's time is valued at the same rate. Other people are happy to vary the rate to reflect the skill or effort needed. For example is an hour spent digging a vegetable garden worth the same as an hour spent waiting in for the gas fitter? One way of looking at it is that both hours are worth KS but I would be prepared to pay a bonus for the blisters, sweat and aching muscles required for the digging. Whatever your view, a quick chat when arranging the job saves confusion later. The details of the trade are the responsibility of the people involved.
If you use materials in providing a service you can charge a sterling element as well as Kents. If you make a cake for example, you might charge K2 for your time and 85p for ingredients. Alternatively, you may be happy charging the whole amount in Kents. To convert £ into K, a rough guide is £1 K. So you might charge K3 for the cake. Generally, the point of the scheme is not to convert scarce £'s into K's, so if it's a large amount, or a regular trade, it's worth charging £'s separately. Only put the Kents on the 'cheque'. You can also charge a mixture of £'s & K's for any trade - it's up to you.

Tax & Benefits

Most trades on LETS are of 'an occasional social favour' and are not taxable. However, if you offer a service on LETS which is your normal occupation then you are liable for tax. Convert the trade into £'s and account for it in the normal way. The value of the job is where some confusion arises because there is not an absolute direct link between Kents and £'s. See our TAX page for more information.
Anyone claiming benefits should ensure that their activities on the scheme do not result in losing money. The situation is somewhat unclear as it seems to depend on the local office's interpretation of the regulations. The National LETS Link co-ordinating group produce fact sheets about the issues involved. You can find a copy of this in our BENIFITS section.

Health & Safety

If you cater in any way Environmental Health rules probably don't apply because it's a social favour. However, it is well worth ensuring high standards of cleanliness and fresh ingredients. If you give someone food poisoning they might have a legal case against you.
Similarly with other safety issues, it is well worth ensuring that anything you provide or hire is to a high standard, fit for the job and in a safe condition. LETS is no different from lending tools to a neighbour or doing a service for them. If you are negligent and this causes damage or injury they may have a case against you. By ensuring that you are not negligent in providing the service or tool, one would hope that a. an accident won't happen and b. an accident wouldn't give rise to a claim. Generally, you should make sure that services are safe. The law is not entirely clear is this area.

Other legal points

Vehicle Insurance. Using your car for 'reward' may affect your cover. Check with your insurance company how they view LETS and what you policy covers.
Alcoholic Drinks. You can trade your expertise in brewing, or hire the kit. Trading the brew is illegal.
Allotments. Check with the council that you can 'barter' surplus produce before trading.
Child Minding. Baby sitting or child sitting is Ok, but to offer child minding you must be registered.

Trading is fun!

Despite the dire sounding legal paragraph above, trading should be fun! As many members are finding, it's a great way to meet new people in the local community and be involved with them. It can be very rewarding providing goods and services (favours) for people and you benefit from their skills in return. The scheme is just a way of introducing people (through the Directory and Socials etc) and keeping 'account' of the favours so you can trade with many people without having to find direct swaps.
After trading, complete the cheque with all the details and post in the boxes in Turning Point or the Library. The transaction will be shown on your account.
If things go wrong with a trade, or you disagree with the steering group about something, there are two 'stewards' available who can offer advice and perhaps mediate. Details are on the Directory cover.

We hope to see you at the next T&T or Social. Please ring any of the steering group if you want further information, help or advice.

The information above is not a definitive statement on the legal issues. Consult a solicitor for more concrete advice. However, because LETS is comparatively new few, if any, cases have been tested in the courts.