Pay It Forward
As well as supporting frontline workers and helping to coordinate London’s response to the crisis, the Mayor of London is committed to supporting small businesses in London who are at risk and are suffering from cashflow problems due to the impact of COVID-19.
On 20 April, the Mayor launched the 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 that have collectively raised over £1.5 million already with the help of over 32,000 supporters who have paid it forward. This works.
Pay it Forward London is funded by LEAP and supported by the London Growth Hub.
Back to Business Fund
The Mayor’s £1m Back to Business Fund will offer up to £5,000 in match funding to small and independent businesses through the Pay It Forward London crowdfunding platform. Find out more at https://payitforward.london.gov.uk/fund.