Covid-19 Match Funding for Small Businesses
Our thanks to Visit Herts for this update which could provide a lifeline for local small businesses:
We know that many businesses are struggling to survive this unparalleled crisis and top of mind for most business owners right now is planning for recovery. Whilst the Government has offered various support packages for the tourism and hospitality sector, which have been crucial for organisations to endure the UK’s lockdown, there is still much more to be done.
Teaming up with our colleagues at the Hertfordshire Local Enterprise Partnership and the great team at Crowdfunder UK, we have launched the Crowdfund Hertfordshire: Small Business Innovation Fund to support local businesses in their survival.
We’re on the lookout for small businesses based in Hertfordshire to support with match-funding of up to £5000. We want to help those who are trying to adapt and diversify their business model through innovative new ideas and experiences that will attract new target audiences to drive business recovery.
We’re keen to support all small businesses* based in Hertfordshire in the following sectors:
- Tourism
- Leisure
- Hospitality
- Retail
- Arts and Culture
*Under 50 staff
The business will need to have been running for longer than 12 months and must have been financially viable pre-COVID-19.
Download the full applicant guidance here.
Why is Crowdfunding Involved?
Crowdfunder UK is the UK’s leading platform that supports thousands of businesses across multiple sectors.
Whilst it may seem uncomfortable to ask customers for money, Crowdfunder UK have introduced a rewards scheme, allowing businesses to offer reward-style treats for generous supporters. This might be in the form of merchandise, a round of drinks, a meal for two, a family day out – the ideas are endless! By customers effectively pre-paying for an experience or item that they will receive later on, it helps to alleviate any awkward messaging asking supporters to donate.
The amount of projects that reach – and exceed! – their financial target is testament to the growing popularity of this style of fundraising and can really help to support businesses with much-needed funding.
Getting Started
To start, simply sign up to the Crowdfunder UK platform and follow an easy tutorial to set up a new project.
Get in touch with us and we can introduce business owners to a dedicated Crowdfunder coach who can help them build and launch a project as well as provide advice and top tips on creating engagement with loyal supporters.
To apply for the matchfunding, businesses will need to complete a simple, easy application form. We’ll then process all applications and score them, with eligible applications sent to the Hertfordshire LEP for final sign off and approval.
Read more about our fund here.
Help is on Hand
Our dedicated team are here to help guide and coach eligible businesses with funding applications, and will happily chat through ideas, processes, how to apply and more.
Plus, we’re supported with the passionate team at Crowdfunder who are here to help make projects successful. They’ve also got a whole host of resources and online videos to help businesses get started.