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UK Cycling resurgence timed perfectly for Local Bike Shop Day 2020

2 Sep 2020

The ACT and Cyclescheme join forces to make Local Bike Shop Day 2020 the best yet.
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‘Where You Shop Matters' Campain stars Card Retailers Lark London and Halls of Llandaff

2 Sep 2020

Greeting card retailers, Lark London and Halls of Llandaff are among theindependent retailers to star in Visa's current Where You Shop Matters campaign.
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Plastic Bag Charge Increase to be extended to all businesses from April 2021

2 Sep 2020

From April 2021 single use plastic bag charge will be increased to from 5p to 10p and apply to ALL businesses, regardless of size.

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Download your free Local Bike Shop Day 2020 digital Retailer Promo Pack

27 Aug 2020

There is now just over a week to prepare for this year's Local Bike Shop Day! To make preperations as easy as possible for IBDs during this busy time the ACT have created a digital Retailer... Read more…

Lock it, mark it, don't lose it: Download TfL's anti-theft poster now

21 Aug 2020

Download the TfL poster now to display in store and help us to avoid as many thefts as possible.
 
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Get your free retailer pack now by signing up on the Local Bike Shop Day website, last few remaining!

20 Aug 2020

Over 200 of these packs have already been given away to participating retailers, to get yours make sure you sign up now!

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Drive your organisation forward on social with the Maybe* free webinars

20 Aug 2020

Gain exclusive insight, expert opinion and up-to-date case studies with the Maybe* live webinars
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Independent Retailers Confederation partners with ‘shopping appointment' solution to bring confidence back to shopping

18 Aug 2020

New service eliminates the need for customers to queue to get into independent shops

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Get Pumped Up to cycle and join the World's Biggest Bike Ride on 12 September

14 Aug 2020

Cycling UK have launched a new campaign- Pumped Up- to celebrate the joy of the bike across our towns, cities and countryside and reminding people about the fun and freedom that cycling... Read more…

How Shop Local Week could benefit local bakery businesses

13 Aug 2020

Comment from Karen Dear, Director of Operations at the CBA (Craft Bakers Association) on how Shop Local Week could benefit local bakery businesses
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GoFundMy Business: The Cash-Strapped Small Business solution?

Posted on in Business News, Cycles News

GoFundMe is a crowdfunding website that aims to harness the power of social networking platforms and the internet to give people the means to raise funds, help others overcome hardship, and meet aspirational goals. It is generally known as a way to raise money for high medical bills, funeral costs or natural disaster relief.

However, according to the GoFundMe Chief Executive Rob Solomon, the crowdfunding website has recently been used as a method for small businesses to raise funds that are cash-strapped and struggling. So far campaigns for small businesses have opened across 19 countries, ranging from comic-book shops to drive-in movie theatres.

The crowdfunding website was a great success for Nicky Perry, a small business owner who owns the restaurant Tea & Sympathy and the fish-and-chip shop A Salt & Battery in Greenwich Village. She started the funding because of high rent costs "We just couldn't pay the rent," Ms. Perry said. "The rent is so astronomical."

Ms. Perry said that she had previously tried extensive ways to cut costs, including changing payroll companies, reducing head count and redesigning its menu. The reaction to her fundraiser has been overwhelmingly positive, with loyal customers stopping by the shop more often and neighbours offering to help out by working for free.

Her campaign has so far raised nearly $52,000 toward its $100,000 goal. She has said that she would consider turning to GoFundMe again in the future should the need arise again.

While there have been multiple case studies of this being an effective method for businesses to raise money and has even kept many businesses alive, not all reactions have been positive. 

One comment on The Wall Street Journal said "I don't believe that businesses seeking charity are operating as legitimate businesses.", while another explained their beliefs by saying "The contradiction between feel good funding and feel good regulatory burden is inadequately elucidated."

Similar campaigns have been used for struggling businesses that need help but don't feel comfortable asking customers for donations. Chris Doeblin, owner of an independent bookshop in Manhattan, has recently started a community lending program after competition from Amazon, rising rents, the increasing minimum wage and an inability to borrow money pushed him to the brink of closing.

Mr. Doeblin has raised $600,000, which he plans to repay within five years at 4% interest, which is a far lower rate than he could get elsewhere. The support he has received from loyal customers will help him stock up for the busy Christmas season.

"People are recognizing that there's a big downside to Amazon and buying things online," he said. "I hope it's not too late."

Initiatives such as the Indie Retail Best Small Shops competition help to bring more attention to independent retailers and highlight the central role that they play in building local communities. As this awareness increases more positive articles have begun to emerge, such as recent evidence showing that the 'death of the high street' may be overstated.

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