Home Knowledge base Finance incl. grants and loans Pay It Forward London – crowdfunding platform for small businesses to pre-sell services

Pay It Forward London – crowdfunding platform offers small businesses across city chance to pre-sell services during coronavirus shut down

The Mayor is offering 100% free fundraising to help businesses secure trade by pre-selling vouchers, goods and services.

Small businesses are facing enormous challenges whilst playing an important part in the fight against coronavirus. Many have had to close their doors in recent weeks and are struggling with cashflow. Through the Pay It Forward initiative, small businesses can offer customers the option to buy goods and services in advance based on a promise to deliver in the future, helping to secure trade through this difficult time. This means people can book and look forward to future activities – such as meals, events, hotel bookings etc. – while supporting their favourite small businesses to stay afloat.

It takes moments to sign up and start a fundraising campaign, allowing the public to pledge funds in exchange for future rewards when this is all over – from haircuts in Harrow, to pints in Peckham and curries in Clapham. Members of the public can also ‘nominate’ their local businesses and encourage them to sign up.

Over 700 businesses across the country that have collectively raised over £1.5 million already with the help of over 32,000 supporters who have paid it forward. This works. Start crowdfunding for your business now www.london.gov.uk/pay-it-forward

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