Civic crowdfunding can start as one person’s half-formed idea as they look around the area they’re living and imagine all of the little ways it could be made better. Through the cumulative power of crowdfunding, a single person’s idea can inspire huge improvements in public life when individuals, councils and businesses all see the benefits. For people, it’s the opportunity to have an impact on their neighbourhood and create something they genuinely want, for a council, it’s the chance to connect with its residents and work together on the projects that they care about, but what benefit do businesses get from joining a civic crowdfunding campaign? We went out and asked them.
How are businesses using Spacehive?
Individuals and groups use Spacehive to creatively pitch their idea and visually demonstrate the collection of community support for it. Which for a business is an amazing tool as they can see clearly which projects have the most support and where they can make the most impact.
Local estate agents, Keatons, who backed the Wanstead Playground project, said “there were many reasons we chose to back their project, to mention a few we were helping provide a fun play area for local children whilst also increasing the value of the neighbourhood where we sell and let property. We pledged some funds but we also provided some signs to help spread the word of their campaign.”
Little Bird Gin backed the Peckham Coal Line project because they’ve “lived in and worked in Peckham for over a decade and are always delighted to do [their] bit to help the neighbourhood and build the community.”
The combined energy of individuals and local businesses working together allows both groups to benefit from increased publicity and serves as a catalyst for more pledges from the wider community and increases the chance of success. Because each project follows the ‘all or nothing’ model, businesses know they will only be supporting projects that will actually be completed which diminishes their risk in getting involved.
The results are bigger and better than we expected
By helping one project reach its crowdfunding target, other citizens quickly find the confidence to share their idea with the crowd. This starts a chain reaction of local action that quickly transforms previously dull civic spaces.
Contributions from local businesses are making home-grown ideas easier to realise than ever before. That means a whole load more creative improvements to our neighbourhoods!
Could you help spark a chain reaction of local action?
Are you a business keen to back a Spacehive project in your area? Get in touch and we can help pair you up with local projects: email@example.com