Cambridge BID is encouraging employers in the area to consider rewarding staff with their Love Cambridge Gift Card for Christmas this year, keeping money local and supporting local economic recovery.

A survey published in HR Review found that less than one fifth of UK companies are still planning an office Christmas party for 2020. Ongoing restrictions surrounding the coronavirus pandemic mean that many employers are looking for new ways to reward their staff.

The Love Cambridge Gift Card can be redeemed with over 200 businesses in Cambridge, including independent and national traders, and is available for employers to buy from £10-£500. Recipients of the Love Cambridge Gift Card can use the card like local currency, in one transaction or many, and on retail, hospitality, services and leisure.

Each Love Cambridge Gift Card is a prepaid Mastercard which is valid for 12 months from purchase, offering employers a secure way to gift. Cards can be purchased online and delivered straight to the recipient. Employers are able to make bulk orders of the gift card directly with Helen Hames of Cambridge BID who currently have a 5% cashback offer* (via Love Cambridge Gift Cards in January 2021) for companies spending over £1000 on Love Cambridge Gift Cards between now and the end of December 2020.

Employers in the area who reward staff with the Love Cambridge Gift Card can take advantage of the UK trivial benefits scheme. A business can give an employee a benefit of up to £50 without paying tax, but only if the benefit isn’t in cash.

The Love Cambridge Gift Card is part of the Town and City Gift Cards programme from Scottish fintech Miconex. In November 2020, over 50 towns, cities and regions in the UK have Town and City Gift Card programmes with new schemes springing up around the UK and Ireland in response to the shop local movement. Town and City Gift Cards received the award for the best use of prepaid at the Incentive Awards in 2020.

The Gift Card and Voucher Association valued the UK gift card market at £7bn in 2019, also reporting that 98.6% of gift cards are spent within a year of being received and 65% will be spent on top of the value of the card received. The Incentive Research Foundation research placed gift card programmes at the top of incentive wish lists for employees.

Helen Hames of Cambridge BID said that the Love Cambridge Gift Card is a socially conscious choice for employers wanting to support Cambridge whilst giving their staff a reward they will appreciate:

“Cambridge is home to a plethora of companies employing a significant number of people in the local area. The Love Cambridge Gift Card offers a great alternative this year for those looking for alternative ways to reward and treat staff this Christmas. With over 200 businesses accepting the Love Cambridge gift Card it has something to suit every recipient. Supporting local businesses has never been more important so we are asking local companies to consider using the Love Cambridge Gift Card and to help lock in spend to our beautiful city”