Crowdfunder Solent relaunched to match fund

Finance and Legal

'Crowdfunder Solent' relaunched to match-fund small businesses

With Covid-19 forcing micro and small to help them trade throughout lockdown. This businesses to close their premises once might be for an e-commerce enabled website again, we're relaunching our Crowdfunder or other costs to help businesses continue to

Solent scheme so these businesses can operate.

access essential cash now. How does Crowdfund Solent work?

Micro and small businesses make up 98% of 1. Someone who is self-employed, a micro the Solent’s economy, and we're ensuring that or small business can set-up a Crowdfunder they have access to match-funding through campaign

Crowdfunder Solent to enable them to keep 2. Once set-up the person or business can trading. The Solent Crowdfunder scheme was sell their goods or services, request donations highly popular during the spring and summer and diversify their offer to engage existing before lockdown restrictions were lifted, when customers and potentially reach new customers we were able to provide £186k to 84 as well. businesses from across the Solent region. 3. The business sets a financial target to

Innovative solutions were found by a wide meet. Throughout the process, coaching is range of businesses to ensure they were able to offered by Crowdfunder to support the person/ trade online, and increase cash flow with small business to meet their target. commitments of goods and services to 4. If an application is approved, once customers at a later date. the financial target is met we will release the match-funding.

The funds have been reviewed and opened up 5. The total sum of the money is then to ensure businesses can apply for money released to the person/small business.

Solent LEP launches SME Restart and Recovery, and Kickstarting Tourism Grant Fund

The Solent Local Enterprise Partnership is inviting applications from small businesses for Restart and Recovery & Kickstarting Tourism Grants.

with funding. Funded by the European Regional Development Fund (ERDF) eligible small businesses that have been negatively impacted by the Covid-19 pandemic in the visitor economy and wider economy can access grants of between £1,000 - £3,000 (and up to £5,000

To be eligible for the fund, you must be an existing SME with at least one year’s trading history. All funds will be allocated on a competitive basis, providing the strongest bids in exceptional circumstances).

The deadline for applications for this funding is 11.59 pm on 23 November 2020.

The money can be used to cover 100% of the cost of professional services and, in some instances, to purchase minor equipment or adopt new technology to diversify.

The announcement follows the success of the first round of the fund, which saw close to £100,000 allocated to small businesses across the Solent area, and the Solent LEP has now broadened the criteria to ensure more businesses are able to apply.