Sign up for the Mayor’s Pay It Forward & Back to Business Fund today
Small businesses are facing enormous challenges in the current climate. Reeling from the effects of the lockdown, many are still struggling with the lack of footfall in London, due to social distancing measures and clients perhaps still working from home.
It has never been more important to work together, as a city, to get through this tough time.
In 2018, British Consumers spent £27.2 billion on hair and beauty and supported one in every sixty jobs in the UK economy. Our businesses are at the centre of communities up and down the country, offering a diverse range of services as well as much needed conversation, relaxation, a confidence boost and a thoroughly delightful change of scenery.
We have already shown strength in the face of Covid, through our resilience, coming together, campaigning and donating.
But there is help for our small and independent businesses here in London; the Mayor’s £1m Back to Business Fund offers up to £5,000 in match funding, through the Pay It Forward London crowdfunding platform.
The Fund will match every pound raised by eligible businesses, up to a maximum of £5,000 – or 50% of their campaign target.
It’s a scheme that will help businesses to raise vital funds to stay afloat, rebuild and recover from the impacts of Covid-19.
Justine Simons OBE, Deputy Mayor for Culture and the Creative Industries said: “London’s beauty and hair businesses make a significant contribution to our economy, but, as with other parts of the creative industries, COVID-19 has hit them hard. We are doing everything we can to support you – the Mayor’s Pay It Forward scheme lets Londoners buy goods and services in advance, providing vital support for businesses at this difficult time. It’s a great way for Londoners to support their local hair and beauty salons, independent shops, cultural venues, restaurants and bars they love. It’s such a great platform and easy to use, I urge hair and beauty businesses to sign up.”
The Fund is only for sectors which rely on physical trading and have been badly affected by Covid-19 restrictions, including beauty and health, fitness, retail, hospitality, leisure, tourism, travel, creative and arts, entertainment and recreation. It is easy to sign up and start crowdfunding – check if your beauty and hair businesses meet the criteria here (eligibility guide here).
Pay It Forward London is a crowdfunding platform that enables businesses to raise vital funds and stay afloat, rebuild and recover from the impacts of Covid-19 through crowdfunding.
Since its launch in April, over 5,000 Londoners have donated over £320,000 to support their favourite local businesses.
Applications are now open and there have already there have been lots of success stories, like Beauty Essence and Agnes dos Santos.
Register your interest, start crowdfunding and receive coaching support from Crowdfunder to prepare you for your funding application: https://payitforward.london.gov.uk/fund.