Portsmouth businesses facing 'massive' funding problem as they turn to the public to keep them alive
ENTREPRENEURS are resorting to asking for donations from the public to stay afloat, according to research.
A study from the BBC Shared Data Unit, which examined thousands of crowdfunding appeals from businesses and other organisations, found that in their appeals, companies have been using the words ‘covid’, ‘coronavirus’ and ‘survive’ in their descriptions, as they look to continue operating despite an absence of trade during the pandemic.
Now, owners of small and medium-sized businesses (SMEs) are worried that without further support, their livelihoods could disappear entirely.
Nicole Heard is the licensee for Boogie Mites in Portsmouth – an organisation split between non-profit activity, and a business running nurseries.
Since the coronavirus outbreak, Nicole has been forced to stop all nursery dates and is unable to pay her self-employed teaching staff.
She said: ‘We’re running the crowdfunder because at the end of all this, I want to still be around.
‘That means paying the teachers and our rent for the community centre we use, we’ve got a little bit of funding from elsewhere but because we don’t fill the government criteria we can’t apply for the business support.
‘There are so many peoples stuck in a rock and a hard place. We’re certainly not alone in this fight.’
More £7m has been raised by projects on Crowdfunder alone since the coronavirus lockdown began.
Across the harbour, Gosport Borough Football Club is also fundraising for spare cash.
The non-league side is running a campaign to feed vulnerable families in the area, but chairman Iain McInnes has been paying for it out of his own pocket.
He said: ‘As a club we are proud to be able to support the town of Gosport in its time of need. That’s what being a community football club is all about.
‘Financially the club is in challenging waters but we see it as our duty to support and serve our fans and the community at large during this time of crisis and in doing so forge ever stronger links in promoting the historical pride and togetherness the town of Gosport deserves and desires.’