The rise of fintech has been revolutionising the way businesses seek funding - taking their ideas to the masses instead of booking an appointment with the bank manager.
Like a financial 'X-factor' the upside is that businesses can tell if their new idea has a following before taking the first big risks - it people back it then the chances are people will buy into it.
Like the shift in the High Streets and the transformation of our working lives, the pandemic has accelerated the crowdfunding route with many businesses like local pubs, theatres and producers using it as a way to survive.
For others, the pandemic has launched new ventures - people facing redundancy or looking for a complete change have turned to starting up their own businesses instead.
We thought it was time to take a look at some of the best South West start-ups seeking money from the public.
We have gathered five eye-catching crowdfunding campaigns currently live.
With any financial decision or investment, it is important that to carry out your own research into the companies and consider the investment risk you are able to take before getting involved.
Rockets and Rascals, Plymouth
The cafe and bicycle business, on Plymouth’s Barbican, is attempting to raise £10,000 to build a bike workshop so repairs can be carried out in a day.
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The business was set up by Steve Toze in 2013, but five years later closed its bike retail area as it was losing money in the face of stiff competition online.
The cafe as doing well, until the arrival of the Covid pandemic, but staff at the waterfront business were receiving daily requests from people wanting bike workshop services, maybe for punctures or gears that didn’t work, or simply wanting some cycling advice.
So for 2021 the business aims to build a workshop space with same day turnaround for basic repairs and has started an .
“We believe cycling for leisure, active travel and transport are essential to move Plymouth forward but this cannot happen without infrastructure,” said Mr Toze. “Covid-19 has created thousands of new cyclists but local bike stores are feeling the strain, most workshops are experiencing two- to three-week lead times, stretching up to two months at peak times.
“Broken bikes can often turn people back to driving their cars and that's adding to our city's traffic and pollution. There's a need for same day fixes to keep bikes in action and keep people moving.
“Our workshop will also be available to rent by the hour for people to do their own repairs and we'll host workshop tutorial nights and talks in the space.
Mr Toze said the business has channelled all of its Government support into paying rent, suppliers, and staff. Rockets and Rascals only traded for six months in 2020.
“Our goal for the Crowdfunder is simply to raise enough cash to pay for the project without damaging our current operation,” Mr Toze said. “We need £10,000 to make it happen properly. This will pay for cabinets, tooling, fit out costs and purchase of a small fleet of rental bikes and basic stock items and help with initial wage costs.
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“If we hit this and stretch the target then at £20,000 this will be a contribution to wage costs for two people to run the workshop for the first few months. We are creating two new jobs. We'll also buy more rental bikes, including some electric bikes to open up cycling to a wider audience of people, previously unable to cycle for health or fitness reasons.”
The Crowdfunder appeal ends on March 5, 2020.
The Woozy Pig, Cheltenham
The small independent street food and event catering business, based in Gloucestershire, is crowdfunding to turn a shipping container into a food preparation kitchen.
The company, which specialises in smoked BBQ, pulled meats and loaded hot dogs, was forced to transform the business after the pandemic hit and has been selling at-home kits during the Covid crisis.
According to founder Matt Jefferies, who set up the business in 2018, since launching the kits the Woozy Pig has “massively outgrown” its current kitchen space.
He is raising r to fit out the shipping container with equipment to operate on a larger scale. He said the new space would allow the business to offer a collection service; start doing national delivery, supply independent retailers; and enable him to host events (when allowed).
Matt said it would also mean Woozy Pig could use delivery platforms such as Just Eat and Deliveroo in and around Cheltenham.
“We are aiming to open sometime in April (date TBC) and plan to use crowdfunded money to help fit out our container with the necessary equipment, furnishings and fixtures that we will need to maximise our capacity,” he wrote on Crowdfunder.
In return, investors are being offering a range of rewards, including limited edition Woozy Pig t-shirts, first dibs on batch #2 of Woozy Pig X Tubby Toms BBQ Sauce, tote bags, pre-paid meals and pre-paid event catering.
Woozy Pig has currently raised £1,968 of its 7,000 target.
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Podhubs, Bristol
A pair of Bristol-based engineers are hoping to raise money to build a number of temporary shelters for people who are homeless.
Tony Parraman and Jonathan Hunt, who are the founders of Podhubs, said their alternative to tents would provide a space for those who need it most, while having a minimal impact on the planet.
The duo, who are , have already developed a model prototype, which they are hoping to scale.
The reusable, flat-pack, fast-install shelters are made from aluminium and recycled plastic board, and are powered by solar energy.
Each ‘pod’ has heating, lighting and USB charging, and with an option for water collection and basic plumbing. They are also easy to transport.
Mr Parraman and Mr Hunt said their shelters can be used for living, sleeping, cooking, toilets or showers, and units can also be combined.
"The need for temporary shelters is vast; humanitarian crisis, natural disasters and forced displacement leave countless people without this most basic of needs," they said.
“The current economic challenges and uncertainty about the future, as we battle with the worldwide Covid-19 pandemic, will no doubt force more into homelessness."
So far the duo have raised £1,332 from 16 supporters. The money will be used to fund a full-size prototype of the basic single-width sleeping shelter, according to Crowdfunder.
The shelter can be adapted to accommodate up to four beds (two lower and two upper fold-away bunks) but the initial prototype shelter will be one-to-two berth, with a fold-away bed and inbuilt storage trunk.
Recarded, Plymouth
Plymouth tattooists Jamie and Natasha Campbell are seeking to raise £4,500 to launch their Recarded board game.
The “simple fun party game” involves making up silly, weird, fun and rude words. It can be played with just two people.
The idea came to Mr and Mrs Campbell in 2020, between national lockdowns, when the couple were staying in a converted barn on an old farm in North Devon and came across a Scrabble set.
“As we both have a silly sense of humour we ended up creating funny and rude words to make it more interesting,” they said. “This is where Recarded started, we adjusted the idea to include category cards that are hilarious to read.
“We would play in the evenings quite often just the two of us but quickly discovered it was great fun at family parties with more people.
“We all loved playing so much that we had an example game made. Our goal is to be able to get enough money to order the game in bulk, cover taxes and shipment. this is reflected in the target.”
The couple, who run Plymouth’s Murder of Crows tattoo business, have . It already has more than 20 backers and ends on March 5, 2021.
Brass Monkey magazine, Gloucester
This pole dancing magazine is hoping it can become the voice of a rapidly growing industry of classes, businesses and community clubs.
Perceptions surrounding the increasingly popular performance art form have changed dramatically. Where it was once perceived as a preserve of strip clubs it is now an officially recognised sport, with a growing number of participants from all backgrounds.
The South West staged one of the 海角视频’s biggest pole dancing expos in 2019 when Pole World Festival was held at the University of West England in Bristol.
Brass Monkey Magazine, which takes its name from a pole dancing move, is hoping to increase the exposure of teachers, pole clothing companies and studios which it says have fallen foul of social media algorithms.
It has launched , which it hopes will cover marketing and publishing costs and secure its long term prospects. Currently put together by one person, the publication is also hoping to be able to grow its team.
Have you crowdfunded for your business or been an investor - what are the upsides? Tell us your experiences in the comments section below