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Pay it forward plea to support local businesses

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Portsmouth City Council 2016Portsmouth residents are being asked to support local businesses, social enterprises, creatives and self-employed by 'paying it forward' through a crowdfunding scheme to help businesses survive the Coronavirus (Covid-19) outbreak.

As businesses face worrying times, Portsmouth City Council and Shaping Portsmouth have made changes to their existing crowdfunding scheme so that small businesses adversely affected by the outbreak can get extra support from the crowd, the council and potentially grant funding.

The focus is on sectors not currently covered by the measures already announced and updated daily by central government. Through the crowdfunding site businesses can ask for money from the crowd for services they will receive in the future when they re-open. Examples could include children's entertainers, photographers, personal trainers and therapists.

In addition, Portsmouth City Council will offer match funding of up to £5,000 per project to those which meet set criteria.

Councillor Steve Pitt, Portsmouth City Council's Cabinet Member for culture and city development, said: "We are committed to supporting residents and businesses during this difficult time. We hope that by changing the criteria on our crowdfunding scheme we will be able to provide more support and help our local businesses to survive. I really hope that any residents who are able to will also show support by paying it forward to the Portsmouth businesses they love.
We urge everyone to follow the latest Government advice and check the council website for the latest local information."

Rob Love, CEO, Crowdfunder said: "We are proud to be working with Portsmouth City Council and Shaping Portsmouth through Crowdfund Portsmouth, delivering crowdfunding, grants and match funding to micro and small businesses at speed. We know that businesses need cash flow support now: Pay it Forward gives them the ability to access vital cash while staying connected to their customers and supporters. This is a model that works for micro and small businesses as well as for the self-employed.”

For more information on the crowdfunding scheme visit https://www.crowdfunder.co.uk/funds/crowdfund-portsmouth

For more information on business and employer support in Portsmouth visit: www.portsmouth.gov.uk/ext/coronavirus-covid-19/businesses-and-employers-coronavirus-information

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