The Back to Business Fund

The Back to Business Fund offered up to £10,000 in match funding to small and independent businesses through the Pay It Forward London crowdfunding platform.

Applications for the Back to Business fund are now closed.

Shop window with open sign showing

Pay It Forward enabled businesses to raise vital funds to rebuild and recover from the impacts of Covid-19 through Crowdfunding. Since its launch in April 2020, over 30,000 Londoners have donated over £2.5 million to support their favourite local businesses.

Every pound raised by a business up to a maximum of £10,000 (£5,000 for Southwark) - or 50% of their campaign target was matched by the Back to Business Fund - to help project owners expand their operation online, invest in their future and adapt to safe, socially distant trading.

Delivered in partnership with the London boroughs of Croydon, Hammersmith & Fulham and Southwark.

Croydon Council
hammersmith and Fulham Council
Southwark Council

How it worked

Step1 - Start crowdfunding

Add your campaign

Set up a Pay it Forward London campaign for your businesses. This enables you to to raise vital funds to rebuild and recover from the impacts of Covid-19 through Crowdfunding. Set your own financial target and build your crowdfunding campaign.

Step 2 - Raise 10%

Apply for funding

As you create your Pay it Forward London campaign you can apply for the match funding. You will be given coaching support to build your campaign and help you achieve your target. Your application will be assessed by GLA officers who will decide if your business meets the criteria. All applications will be required to accept the fund terms and conditions.

Step 3 - You could receive £5,000

Start crowdfunding

Launch your campaign and get to 10% of your financial target with at least 25 to 50 different backers (depending on how much you’re raising), and if the application is approved in line with the eligibility criteria, the Back to Business fund will pledge match funding, up to a maximum of £10,000 (£5,000 for Southwark) or 50% of the campaign target. Once 100% of the target is reach the Back to Business pledge is released to you.

What is crowdfunding?

In this time of crisis crowdfunding is proving to be an effective way of raising money for great ideas from the people around you.

Video cover placeholder
Mayor of London
Mayor of London
Mayor of London
Mayor of London