Some good Vibrations to keep firms afloat
The team behind the postponed Vibration Festival, due to be headlined by Basement Jaxx, have come up with a novel way of helping crisis hit small businesses generate income.
Online pledge platform Tide Over allows customers to pledge support for their favourite local businesses by buying an e-voucher – throwing companies a lifeline during the coronavirus pandemic.
After postponing their own event due to Covid-19, brothers Andy and David Ure, from Falkirk, and business partner Fiona Dawson, from Callander, decided to put their creative skills to good use by creating a free and easy to use online tool to allow small businesses to generate income while their doors are closed.
Tide Over allows businesses to sign up for free and invite customers to pledge money in the form of a voucher to be redeemed later when the company reopens.
The platform differs from other online crowdfunding platforms in that money is paid out within seven days of vouchers being purchased, meaning companies can access the cash when they need it most.
Organiser Andy Ure said: “It was a no brainer for us. We had the time and the skill set between us to set something up that could make a real difference for small businesses and the self-employed.
“Tide Over is particularly aimed at those that don’t have a great online presence or e-commerce solution to sell vouchers for use when they open back up. It’s free for businesses to sign up and businesses keep 100 per cent of the pledges. The response so far has been fantastic, and we are already seeing independent business smash their targets.
“This is a terrible time for so many of us, so it has been inspiring to see so much support for small, local businesses.”
Scotland’s largest vinyl record shop, Europa Music, located in Friars Street, Stirling, has also signed up. Owner Ewen Duncan said: “Europa is in its 44th year and we’d like to keep it going as the largest vinyl record shop in Scotland.
“We don’t have an online presence, so we’re asking people to pledge through Tide Over and pay it forward for any of our products or gift a voucher as a present. “This would be redeemable in the shop once we are open again.”
To sign up to Tide Over or help support a business visit www.tideover.co