The Promise

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Matt and Rachel Ho have raised More Than £21,000 so Far For their business craving coffee

"a Small Business is touch and go at The Best of times," says Rachel Ho, Director of the independent coffee-shop in Tottenham , North London . And this, it seems fair to say, are far from The Best of times.

in Front of the treasure chamber to keep aside billion company afloat during the coronavirus lockdown.

But for many, access to financing, the proof is too difficult - and less than 2% of the 300,000 requests to the government loans are scheme thought to have reached the wear So Far .

After being told she was not eligible for a scholarship, because you have to pay business rates on your landlord, and after getting "nowhere" with your insurance claim, Ms Ho decided to Set Up a crowdfunding page for the craving of coffee, which she owns with Her Husband Matt.

Within 24 hours you bred two-thirds of their £had 25,000 goal.

The Team in the Coffee Shop were "Blown Away ", Ms Ho told The Bbc .

Without this money, which will go towards rent, loan repayments, suppliers, and invoices, The Business was set to "go under," she says.

"We were prepared to go bankrupt. We knew that the lockdown would outlast all the reserves we had. "

If you came to the lockdown announcement, they told their employees there were no more shifts and sold to recoup as much inventory as possible, what you could.

"it was a very emotional and exhausting day. "

But in The End , Ms Ho, it was The Local community that has saved them - with donations ranging from £5 up to £1,000.

"Tottenham is really good. It is an area where people are really behind the things," she says. "I'm not surprised by The Passion , But I'm a bit overwhelmed by the quantities which have been Given to people. "

Ms Ho says she was "entranced" by The Local community's generosity

And craving coffee is not the only company taking this approach.

U.S. crowdfunding site GoFundMe says it has seen a 246% of British business campaigns increase compared with the same period of the previous year, while UK-based Crowdfunder, a top, and a doubling of the daily website traffic has also seen.

It is important to note, some of these crowdfunded companies are doomed to failure in normal times, and for those who invest money through crowdfunding, if The Company goes under. However, those who consider your contribution a donation may be less concerned about the danger.

A new scheme of crowdfunder, to help those affected by The Virus , and encouraged The Company to offer premiums instead of Equity in exchange for donations.

At the Request of coffee, the offers ranged from drinks, food, and clothing to invitations to a re-opening party.

And The Company , the different platforms have a similar approach.

Ricky Fox runs a children's entertainment company, in Uxbridge.

The Business - Captain Fantastic - employs five full-time employees and 40 entertainers in front of the coronavirus. It's putt was on about 200 children of the parties a month.

Social distancing changed.

"people, the displacement of their parties," he says. "We had 200 bookings in a month, then it started to drop, then all started to push, then you will be terminated. We went to zero. "

It had been 10 Years for Mr. Fox, and co-founder Tommy Balaam, the building of an economy that ground to a halt in a matter of days.

they furloughed some employees, But that is where the support of the government ended. The Company works from home offices, so you are not eligible for a scholarship, and the two founders took dividends rather than wages.

Realise they needed to offer something different, Mr Fox and Mr Balaam started free online entertainment videos for children and asked for donations In Return on GoFundMe and Paypal .

Captain Fantastic now dozens of online kids shows in the week, and asks for donations In Return

More Than 6,000 people voted, their first live video, and their followers rose on Facebook soon from 3,000 to More Than 50,000.

Captain Fantastic now, not 30 live sessions in the week, with the donations split between The Entertainers involved in each video.

"It's not much, But it pays for the employees, the left, and it gives our entertainers a bit to pay the rent," says Mr Fox .

"It keeps us above water, and that is what we wanted. At The Moment we Can survive. "

The Treasury told The Bbc that local authorities are working to ensure that "eligible ratepayers" will get the grants that you are entitled to add, that those who receive may not be entitled to grants "other measures".

access, But even those who have to fight to claim other support to it, or not find it is enough.

Dave Grant, Managing Director of Heavy Beer , an Aberdeen-based craft brewery, which has seen its sales decline by 75% due to the blocking.

The Company has The government leave System for some of its employees, and got The Business tariff Relief But still needed money to survive.

Mr Grant requested by the government loan supports Chancellor Rishi Sunak announced last month - But was rejected by The Bank , after being told his company was "not a viable business model".

In The End , he turned to crowdfunding, offers people a 50% return on their commitment - "you Can Spend 50 pounds to 75 pounds worth of Beer . it is easy to see for people to get what you go to. "

Grim Beer increased from £156,000 in One Day .

"We could not believe honest," says Mr Grant. "We were always refreshing the total and it was incredible. It was so beautiful, so many people think wanted to help us. "

Fierce Beer surpassed its crowdfunding goal in just One Day

So, what is it that inspired such generosity, is it simply The Promise of free or services?

"I think, to recognize the people that we need to go to, to work together through this," says Ms Ho.

"I think everyone feels so helpless, you just want to help where they Can . and you want to be The Business here when you get Back . "

hospitality industry, uk economy, crowdfunding, coronavirus lockdown measures, coronavirus pandemic, coffee, aberdeen, tottenham

Source of news: bbc.com