Pay It Forward Mayor of London
Mayor of London Launches Pay It Forward Campaign to help businesses pre-sell their products and services
20 April 2020 - Press Release extract:
Today the Mayor launched Pay It Forward London – a crowdfunding platform on London.gov.uk which will offer small businesses across the city the chance to pre-sell their services during the coronavirus shut down. By connecting them to their local communities, and providing 100% free fundraising, London’s businesses will be able to generate income and manage cashflow while keeping the public safe.
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 have collectively raised over £1.5 million already with the help of over 32,000 supporters who have paid it forward. As part of this we want to reach as many small businesses as possible who are affected by the coronavirus crisis – every business type from every part of the city.
“The Mayor has partnered with Crowdfunder to launch #PayItForward London. It’s a new scheme to help small businesses like yours through this testing time. It allows you to set-up your own crowdfunding scheme so your customers can pre-pay for vouchers, goods and services. By generating advanced sales, you’ll be able to ease your immediate cashflow issues. The best bit is it won’t cost you a penny either. 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 - we know this works. Sign up today at: london.gov.uk/pay-it-forward.”
To see if your business is eligible nd how to apply, please go here: https://payitforward.london.gov.uk/
Pay It Forward London is part of a wider package of help the Mayor is offering to small businesses, including the London Growth Hub which is delivering tailored one-to-one advice to small and medium-sized enterprises (SMEs) during the outbreak.
Sadiq Khan has also agreed to invest an additional £1 million into extending business support over the coming 12 months to help companies through the current crisis and period of recovery which will follow.