Crowd Funding comes to town centres

Posted on 16 January 2013

Towns have turned to ‘crowdfunding’ to raise money for much-needed regeneration projects. The model allows hundreds of local people, businesses, and the council to pledge contributions online, which are only collected if projects go ahead. The aim is to rejuvenate the UK’s town centres with imaginative projects that boost visitor appeal. The global information services company Experian is making available funds of up to £100k over a year, which will be added directly into the funding thermometers of the most imaginative projects when they are posted on the crowdfunding platform Spacehive.com. The model echoes the Victorian-era tradition of public subscription, which saw millions of proud citizens share the cost of new parks and statues. More information is available at spacehive.com/initiatives/towncentres and from The Association of Town Centre Management at www.atcm.org.