Finance and Legal
'Crowdfunder Solent' relaunched to match-fund small businesses
With Covid-19 forcing micro and small businesses to close their premises once again, we're relaunching our Crowdfunder Solent scheme so these businesses can access essential cash now. Micro and small businesses make up 98% of the Solent’s economy, and we're ensuring that they have access to match-funding through Crowdfunder Solent to enable them to keep trading. The Solent Crowdfunder scheme was highly popular during the spring and summer before lockdown restrictions were lifted, when we were able to provide £186k to 84 businesses from across the Solent region. Innovative solutions were found by a wide range of businesses to ensure they were able to trade online, and increase cash flow with commitments of goods and services to customers at a later date. The funds have been reviewed and opened up to ensure businesses can apply for money
to help them trade throughout lockdown. This might be for an e-commerce enabled website or other costs to help businesses continue to operate.
How does Crowdfund Solent work?
1. Someone who is self-employed, a micro or small business can set-up a Crowdfunder campaign 2. Once set-up the person or business can sell their goods or services, request donations and diversify their offer to engage existing customers and potentially reach new customers as well. 3. The business sets a financial target to meet. Throughout the process, coaching is offered by Crowdfunder to support the person/ small business to meet their target. 4. If an application is approved, once the financial target is met we will release the match-funding. 5. The total sum of the money is then released to the person/small business.
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