Recent data found by Learnbonds.com showed that the global crowdfunding transaction value will grow annually at the rate of 12% within the next three years, so a value nearing $12B by 2023.
But with the dramatic impact of the pandemic on our economy, how does the situation look like for new projects trying to raise funds through crowdfunding? Is there a major slowdown or does it actually make room for innovation?
Crowdfunding platforms grapple with a slowdown
Data from UK crowdfunding platform Seedrs shows that community funding was 20% lower in March than it was in Spring over the last three years. “Activity, both in terms of campaigns going live and volumes of investments, has slowed a bit from what we would normally expect,” Seedrs chairman Jeff Lynn told Sifted. Read the full article on Sifted
Free crowdfunding for small businesses to help survive coronavirus
Small businesses in the South West are being given access to free Crowdfunding to help them survive turbulent times brought on by Coronavirus. To support the 5.9M small businesses across the UK, Pay it Forward will provide access to free training for small businesses, to help with online sales, cashflow support and legal support, delivered by Enterprise Nation. Read the full article on Devon Live
How crowdfunding can unlock SME potential
Small and medium-sized enterprises (SMEs) are the backbone of Scotland’s economy, yet many face an uphill struggle when it comes to getting a bank loan. The challenges of accessing external funding are felt most keenly by startup businesses and companies in the early stages of expansion. Read the full article on The Scotsman
3D-printer owners rally to create NHS face masks
Some 1,400 3D-printer owners have pledged to use their machines to help make face shields for the NHS. Started by palliative-medicine doctor James Coxon, the 3DCrowd UK group is now looking to recruit more volunteers. It says thousands of its 3D-printed masks have already been made and donated to hospitals, GPs, pharmacies, paramedics and social-care practices. Read the full article on BBC
James McAvoy has donated £275,000 to a crowdfunding campaign
The actor James McAvoy has donated £275,000 to a crowdfunding campaign set up to by a group of doctors to raise money to buy vital protective equipment for NHS staff treating coronavirus. The campaign has raised more than £440,000, surpassing the initial target of £200,000, which has now been extended to £500,000. Read the full article on The Guardian
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