The partnership between Crowdfunder UK has been renewed for another year by Portsmouth City Council to support business and community projects over the next year. The partnership helps to make great ideas happen through a combination of match funding, expert crowdfunding coaching and events. Monies raised through crowdfunding can be match funded up to the value of £5000.
The council launched the Crowdfunder partnership two years ago. Crowdfunder Portsmouth has supported 34 projects in the city including Natty’s Jerk who raised funding for a fixed premises, new equipment for the Portsmouth Golden Gloves Boxing Club’s, Octopus Story a multimedia arts project and Cumberland Infant School’s green spaces. £212,068 raised on the crowdfunding platform by qualifying community projects was matched by council funds of £105,730 over the duration of the project.
Portsmouth City Council are able to continue funding Crowdfunder following approval from councillors to support businesses through the UK Shared Prosperity Fund (UKSPF).
Cllr Steve Pitt, Cabinet Member for Culture, Leisure and Economic Development said “I am delighted that the Crowdfunder partnership has been renewed to benefit local business and community projects. It is more important than ever that our start-up businesses and community organisations can get access to funding support in order to deliver on great ideas that benefit our communities and economy in Portsmouth.”
There are currently two funds available; the Portsmouth Small Business fund which supports new business start-ups and existing small businesses to grow and Portsmouth CIL Transformation Fund which supports community projects that have a wider community benefit. This funding comes from the Community Infrastructure Levy fund (CIL), which allows local authorities to raise funds from developers who are undertaking new building projects in their area.
The latest business to launch a Crowdfunder campaign is The Portsmouth Distillery. After winning ‘Best Rum’ in the Great British Food Awards 2022 this start-up business are ready to grow to the next level to reach a national market.
Marcus Wilson, Crowdfunder Programme Lead at Shaping Portsmouth said “This is fantastic news that Portsmouth City Council have made such a positive decision to renew their agreement with Crowdfunder. To continue to have the council supporting investment in businesses and community projects, utilising Crowdfunder, is so enabling, and really helps to keep an upward trajectory on the benefits across Portsmouth. A big thank you as this is a very meaningful contribution for the future.”
Businesses and organisations interested in Crowdfunding are invited to attend a 1:2:1 drop-in session on 18 January 2023 at Cosham Library and 22 February 2023 at Victory Business Centre.
For more information and to book your place for a drop-in session click here, or call the Business Helpline on 02392 841 641