Crowdfunding community businesses could have efforts matched by £6,000

Community businesses who choose to use the website Crowdfunder to raise money for their projects could have their efforts matched by up to £6,000.

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.

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

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 added: ‘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 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

Photo Credit – Pixabay