Mayor of London's

Back to Business Fund

The Mayor’s £1m Back to Business Fund offers up to £5,000 in match funding to small and independent businesses through the Pay It Forward London crowdfunding platform.

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Pay It Forward London enables businesses to raise vital funds and stay afloat, rebuild and recover from the impacts of Covid-19 through crowdfunding. Since its launch in April, over 10,000 Londoners have donated over £500,000 to support their favourite local businesses.

Through the Back to Business Fund, the Mayor will match every pound raised by a business up to a maximum of £5,000 - or 50% of their campaign target - to help them expand their operation online, invest in their future and adapt to safe, socially distant trading.

You need a crowdfunding project to apply for funding. Start or continue adding your project and, if eligible, you'll be prompted to apply. Before completing your application for match funding we recommend that you read the accompanying guidance fully - you’ll find everything you need to know on this page.

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You are an existing business based within Greater London

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You are a small to medium sized business (less than 250 employees) that receives at least half it's income from trading activity

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Your business has been adversely affected by COVID-19

Before completing your application for match funding, we recommend that you read the accompanying guidance and criteria fully

Want to find out more about the funding?

Register your interest and receive coaching support from Crowdfunder to prepare you for your funding application. Please ensure you have read the eligibility guidelines before completing the form.

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How it works

start crowdfunding

Add your campaign

Set up a Pay it Forward London campaign for your businesses. This enables you to raise vital funds to stay afloat, rebuild and recover as well as maintain trading and galvanise the support of your community and customers. Set your own financial target and build your crowdfunding campaign.

Get the word out

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.

Get funded

Start crowdfunding

Launch your campaign and get to 25% 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 Mayor will pledge match funding, up to a maximum of £5,000 and no higher than 50% of the campaign target. Once 100% of the target is reached, the Mayor’s pledge is released to you.

Start crowdfunding for your business

Back to Business Toolkit

Check that you meet the eligibility criteria and read the Toolkit here

Learn to crowdfund

Thinking about crowdfunding and not sure where to start? In our guide, you'll be able to find all of the information you need to see success with your Crowdfunder project. 

Download guide
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