Both Totally Locally traders groups in Burntisland and Kinghorn are taking part in the national initiative which runs from Saturday, July 2 to Saturday, July 16.
And it is hoped that falling in the height of summer season in the bustling tourist locations will help give businesses an extra lift after the challenges faced in the last two years due to the pandemic.
Fiver Fest sees local, independent shops and businesses offering deals on goods and services for just £5 of the course of the fortnight.
Yvonne Shivas, from Totally Locally Burntisland, is excited about the forthcoming event.
She said: “It’s the very first time we have had a Fiver Fest in the middle of summer.
"It’s quite exciting for us because we have had Civic Week, then it’s Fiver Fest and then it’s into the Highland Games.
"It’s a bumper month for Burntisland traders.
"After things being tough for everyone for the last 18 months, we’re pleased to have the most businesses involved that we have ever had.
"There are 49 businesses taking part this time, and it’s a mix of those on the High Street and those small businesses that people run from home and online.
"It’s quite astonishing to have so many businesses involved for the size of town.
"I saw that Bedford the other day, which is more than ten times the size of Burntisland, had 64 businesses taking part.
"So for us to have almost 50 here is great.
"It’s going from strength to strength and it creates a real buzz in the town.
"We have some new businesses that have opened in the High Street offering deals including a new mobile phone and computer shop and a beauty salon.
"We have got a home improvements shop opening shortly too.
"Every single shop in the High Street is full, and that in itself is fantastic.
"One thing Fiver Fest highlights is how many little businesses there are in Burntisland that perhaps don’t have a premises on the High Street but are still running from the town.”
The latest fortnight for the initiative – which runs three times a year – follows a successful event in March which saw more shoppers arrive in town to take advantage of the special offers.
It is an opportunity for businesses to both reward their regular customers with a bargain and encourage new customers to try products and services they may not otherwise buy.
The Burntisland group have been involved in running Fiver Fest for several years now, and through the Kinghorn Totally Locally group the neighbouring village have also been getting involved with their own special £5 deals and offers.
With a bustling High Street and local business community, Burntisland’s Totally Locally set up has been recognised further afield in the past with it featuring on television.
And recently the group got a special mention in the first book published by Totally Locally nationally – The Economics of Being Nice.
Yvonne explained: “Only a few towns out of over 100 involved with Totally Locally get mentioned, but Burntisland gets four pages of coverage which we’re really chuffed about, particularly with the comment ‘Certain towns seem to really take Fiver Fest to heart. Burntisland kicks it out of the park!”
As well as offering rewards to regular customers and encouraging new customers, the initiative also provides smaller businesses who work from home or only operate online with a means of free promotion and great exposure to a whole new customer base who might otherwise not know they exist.
Shopping locally injects a huge amount of money in the local economy which then goes round several times benefiting multiple businesses – instead of going straight out to a national competition.
Those businesses signed up for July's event are C. Sinclair Fish Merchants, The Kingswood Hotel, Grain & Sustain, Poison Hair & Beauty, Sugar & Spice, The Waverley Cafe, Tom Courts Burntisland Butchers, Novelli’s, The Sands Hotel, JoJo Co., Burger Island, Amanda’s Podiatry, The Cromwell Kitchen, Jigsaiz, Cat C Photography, Topkapi, Dears Pharmacy, Talented Witches, The Olive Tree, MySpanishNow, Laura Anne Photography, Righteous Rides, Irene Irvin Music Teacher, Big Green Market, The Old Port, Smugglers Inn Cove, The Wee Yogi, Pretty Presents, The Happy Go Lucky Dog Company, Hair.Comb, Chapter & Verse, Macauley’s, Gingerbread Designs, Wild Story Weaver, Bumbumbee Creative, Totally Hardware, Aye Candy, Call-Clean Dry Cleaners, Burning Brightly, Cherry on Top, S. M. Autos, Zenith Health & Beauty, Reflections Hairdressing, The Crown Tavern, The Roasting Project, Global Mobile Phone Shop, Bel & Etta, Boyle’s Bites @ The Golf Club and Dunearn Hill Soap Company.
Details of all the deals being offered by the businesses during Fiver Fest will be available at www.totallylocallyburntisland.com on Saturday.