Please list any other measures of the impact of your innovation.
A number of measurable goals will be available to gauge the success of the BerkShares Program.
o Increased number of BerkShares in circulation as determined by checking deposit account totals at participating banks
o Increased in the number and geographical distribution of participating businesses as determined by the BerkShares list directory
o Increased trading between businesses as determined by business survey
o Increased velocity of trade in BerkShares before redemption as determined by monthly reports from participating banks
o Increased liquidity of BerkShares, measured by comments being reported by business owners and customers
o Development of a plan for moving the BerkShares program to the entire county
o Continued media attention (The New York Times, The London Times, ABC World News, CBS, BBC, Reuters, French TV1, NTV (of Moscow), Finnish TV, and Yahoo News have all carried prominent stories on BerkShares) and contact with other communities demonstrate that BerkShares are initiating discussion on the role of local economies
Does your innovation address and/or change banking regulations?
The BerkShares program of the E.F. Schumacher Society highlights the role small banks can play in a vibrant local community. The flexibility of the small banks allows them to adapt to the needs of the community better than large banks ever could.