TOKYO, 27 March 2020 — CAMPFIRE Inc. announces the extension of the application period for the Covid-19 Support Program to 30 April, 2020, given the difficulties of predicting future business environments due to the rapidly changing situation such as requests for self-restraint, postponement of the Tokyo Olympics, etc.
The program is designed to support businesses that have severely hindered management due to the widespread of Covid-19. Projects eligible for this program will only be charged for the 5% payment fee, and the 12% service fee will be free of charge.
※Please note that there will be a review for applying the program.
Covid-19 Support Program: https://camp-fire.jp/channels/covid-19-support
Status of the “Covid-19 Support Program”
Since the launch of the program in 28 February, there have been over 400 applications (as of 27 March, 2020). The program is used by a wide range of industries; 40% food and beverages, 20% music related, 10% accommodations, and 30% other, such as fitness clubs, cram schools, etc.
Approximately 100 projects have already launched, and the total backing amount reached 130 million yen within a month. Given the situation, companies have started using crowdfunding as a way to develop new sales channels.
Covid-19 is having a massive impact on businesses in Japan regardless of the industry, with requests for self-restraint, decline in consumption, disruption of the supply chain, disappearance of inbound demand, postponement of the Tokyo Olympics, etc. Although there are various government-initiated support measures taken into consideration, It is difficult for businesses to estimate future prospects. CAMPFIRE will continue to consider and execute programs that will support various funding demands.
CAMPFIRE Operations Department Manager
As the situation around us is changing every day, we are happy to announce the extension of the Covid-19 Support Program. Business owners are currently forced to take prompt measures, and I hope this extension will help businesses get through this situation. Since its launch in 2011, the year of the Great East Japan Earthquake, “CAMPFIRE” has supported people in difficult situations through crowdfunding. We hope that CAMPFIRE will continue to be a place to bring together those who wish to give support, and those who need it.
Details and requirements of the program
All-In and All-or-Nothing projects applied by 11:59:59 AM Thursday, 30 March 2020, first draft submitted by 11:59:59 AM Friday, 29 May 2020, and launched by Friday, 31 July 2020 will only be charged 5% payment fee and the 12% service fee will be free of charge.
Artists/event operators that have announced event cancellations and self-restraints, restaurants/accommodations, and other business owners who have had their management and production severely hindered due to Covid-19. (※Third party projects, and projects that have already been published are not eligible)
- Actual loss has occurred such as cancellation fee of the venue, or loss of profit is expected due to suspended business activities.
- Able to submit information that can prove the above objectively (document or URL). For example, information that objectively indicates that the event has been canceled, proof that actual damage has occurred due to Covid-19, etc.
- Project content does not violate public order and morality
CAMPFIRE, GoodMorning, 3rdTable, and CLOSS
(FAAVO, BOOSTER, machi-ya, CAMPFIRE Furusato Donation, EXODUS, CAMPFIRE Community, polca, CAMPFIRE Creation, and some overseas projects are not applicable to this program.)
The Nihon Keizai Shimbun - Internet Funding Supports Businesses Suffering Damage from the Coronavirus
NHK NEWS WEB - What are Grassroots Advocacy for Small and Medium Enterprises?
HUFFPOST - “We Want to Support Artists Who Had to Cancel Their Performances” BAD HOP Crowdfunding Project Reaches 30 Million Yen