A “one per type” business network.
Parity is a network for independent businesses in the Jewellery Quarter with its own local currency. Our platform provides members with new relationships and additional liquidity.
Once businesses sign up for Parity, they access an interest free credit line within local currency for purchases within the network. Parity is in fact more than a business network. It creates trusted relationships and sales opportunities, alongside a financial mechanism that supports cash flow.
a way to recover expenses with the new sales it generates
This innovative system relies on cooperation between local businesses. It works as long as members can buy and sell one to another. Parity has been defined as “a way to recover expenses with the new sales it generates”.
The advantage is here. For the buyer, the opportunity to buy goods and services saving pounds; while for the seller is the benefit of acquiring new customers and increasing sales and turnover. This is what we mean by cooperation; a mutual benefit for both companies.
10 solicitors problem
We offer a brokering service to facilitate transactions and ensure this outcome. However, we also need to limit the entrance of companies per sector to address what we call, “the 10 solicitors problem”.
If in the network there is a demand for three solicitors, allowing ten to join could generate two different issues. On the one hand this would mean that generating income within the network could be very difficult as there are too many companies with the same offer. On the other hand instead, oversupply of the same good or service could result in price competition, making it not worth participation by the solicitors.
One sit policy
Parity is a closed network with controlled onboarding process to avoid these issues and ensure a suitable marketplace for its users. When we recruit members, we go after a specific type of company that the network requests. Once their place has been secured, we stop searching for the same business until the network’s demand for this service increases.
This practice has been successful in Italy. Sardex has been able to ensure that everyone within the network would benefit from it. Besides building a good reputation among entrepreneurs; this makes the network more attractive to those who want to grow and are keen to do so locally, through this innovative system. Once your place has been secured, the demand for your goods and services will be directed to you and Parity will support you acting as external sales and marketing force.