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The High Street Challenge
The High Street Challenge and crowd funding
What is crowd funding?
Crowd funding is a way of raising finance by asking a large number of people to each contribute a small amount of money for a specific project.
Why crowd funding?
A core aim of the High Street Challenge has been for organisations to develop projects that are sustainable over time and do not need long term financial support from the council.
As part of this, successful organisations have needed to demonstrate that their project meets an existing business need and demonstrate that there is financial support for the project from other organisations. Some projects have also been able to attract crowd funding to their project, allowing the council to see that not only is there a need for the project but there is local financial support for the project from residents or businesses.
Further information on crowd funding
Whilst crowd funding can help raise funds for a project, it is a big commitment and time consuming so needs to be built into project delivery plans. These links are some of the available guidance.
Spacehive – The ultimate guide to crowd funding