Community businesses who choose to use Crowdfunder to secure capital for their projects could have their efforts matched to the tune of £6,000 – if they raise the funds this year. Charitable trust Power to Change has teamed up with the platform to create the Community Business Crowdmatch fund, which offers extra cash to successful crowdfunding campaigns which are run for the benefit of their communities.
Several community businesses across the country have already been successful in securing funds to get their business ideas off the ground. In South Derbyshire, a community business is promoting sustainable living with a plastic-free community shop. Through Crowdmatch, they raised £6,962 with 138 supporters in 28 days through the platform, earning an extra £5000 in matched funds.
Power to Change has set aside £100,000 for the programme, and still has £50,000 to allocate before the end of the year.
Naomi Sampson, Programme Manager at Power to Change said: “It’s great to have teamed up with Crowdfunder. The demand for this programme has been off the charts and we are keen to back innovative business ideas from communities across England.”
Jason Nuttall, Programme Director at Crowdfunder said “We have helped a wide range of community businesses to crowdfund successfully, from pubs to piers, rewards-based crowdfunding works well for these organisations as they are able to offer great products or services in return for donations. This partnership with Power to Change will allow community businesses to be even more ambitious, using match funding to leverage support from their crowd.”
To be eligible for the extra cash, the organisations must meet the four criteria of a community business:
- Locally rooted
- Accountable to the local community
- Trading for the benefit of the local community
- Have a broad community impact
To apply, community businesses just need to set up their project on the Crowdfunder site and tick the ‘Extra funding’ box. To find out more or apply, visit https://www.crowdfunder.co.uk/funds/community-business-crowdmatch
About Power to Change: Power to Change is the independent trust that supports community businesses in England. Community businesses are locally rooted, community-led, trade for community benefit and make life better for local people. The sector is worth £1.05 billion, and comprises 7,800 community businesses across England who employ 33,600 people. (Source: Community Business Market 2018)
From pubs to libraries; shops to bakeries; swimming pools to solar farms; community businesses are creating great products and services, providing employment and training and transforming lives. Power to Change received its endowment from the National Lottery Community Fund in 2015.
About The National Lottery Community Fund: We are the largest community funder in the UK – we’re proud to award money raised by National Lottery players to communities across England, Scotland, Wales and Northern Ireland. Since June 2004, we have made over 200,000 grants and awarded over £9 billion to projects that have benefited millions of people.
We are passionate about funding great ideas that matter to communities and make a difference to people’s lives. At the heart of everything we do is the belief that when people are in the lead, communities thrive. Thanks to the support of National Lottery players, our funding is open to everyone. We’re privileged to be able to work with the smallest of local groups right up to UK-wide charities, enabling people and communities to bring their ambitions to life.