Pay It Forward

As well as supporting frontline workers and helping to coordinate London’s recovery, the Mayor of London is committed to supporting small businesses in London who are at risk and are suffering from the adverse impact of COVID-19.

On 20 April 2020, the Mayor launched the Pay It Forward London – a crowdfunding platform which offered small businesses across the city the chance to pre-sell their services during the coronavirus lockdown. By connecting them to their local communities, and providing 100% free fundraising, London’s businesses were able to generate income and manage cash flow while keeping the public safe.

Since the launch of Pay It Forward London, data from the platform has shown that hundreds of local businesses have signed up and raised over £2,500,000 with the support of over 30,000 Londoners. In July 2020, the Mayor announced a £1m Back to Business Fund which offered up to £5,000 in match funding per business through the Pay It Forward platform to help firms adapt to safe, socially distant trading. Of this, £900,000 has been allocated to 200 businesses, which helped leverage an additional £2.3m in investment for supported businesses.

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