Starting a time bank
How do I start a time bank and get it off the ground?
It’s always best to get a group of people together who are prepared to make offers and requests from the very start. However, it’s also possible to start small and grow gradually through word of mouth. This makes it easy to manage the joining process and ensure the safety of members. Read our simple guide to find out more
Is there an ideal number of people in a time bank?
There’s no ideal number, although you need at least two to start! Most time banks have 50 to 100 members.
How much does it cost to run a time bank?
The biggest expense for time banks is the cost of paying a broker or coordinator. This role has many responsibilities including administration, maintaining and updating software, and overseeing safety. Most large time banks need funding of £20,000 to £50,000 per year to operate at a level where they can reach many hundreds of local people and organisations.
How do you keep a time bank afloat?
Sustainability continues to be a challenge for many UK time banks. One way to build in longevity for your time bank is to get local organisations to support you. Talk to local colleges, community groups, parish councils, youth groups, and NHS organisations, for example, and show them how joining a time bank can help their people gain self-confidence, develop skills and stay in touch with their local community. Timebanking UK are continually working to secure funding to support time banks with their long-term sustainability.