New Beacon Books saved after crowdfunder raises £76k within days
The team at New Beacon Books, the UK's first Black specialist bookshop, has praised the “amazing support from the community” following a highly successful crowdfunding campaign which has not only saved the store but netted £76,000 in only a few days.
Based in London's Finsbury Park, the store announced over the Christmas break it would be shutting its doors and moving entirely online, as financial constraints from Covid-19 and online retail threatened its future.
Academic and actor Francesca Gilbert immediately launched an online fundraising campaign on 30th December with donations flooding in within hours.
The crowdfunding campaign had aimed to raise £35,000 by 24th February 2022 but, by the morning of 31st December, it had already surpassed that total and introduced a new "stretch" target of £50,000 which was also quickly met. It now has donations from 2,427 supporters.
Directors Michael La Rose, Janice Durham and professor Gus John have now outlined their plans for the future on New Beacon Books' website which could include a move to new premises and boosted community engagement. They said: “Due to the amazing support from the community in response to our fundraising campaign yesterday and today, the bookshop has been given a lifeline to assist in moving forward.”
They explained that the money will be used to pay rent, rates, utilities and other overheads and hire a part-time member of staff to support existing management and volunteers, process online orders and carry out admin work.
Additionally the crowdfunded cash will enable them to expand New Beacon Books’ community outreach work and educational initiatives within the community as well as restoring New Beacon Books’ publishing platform, which had been reduced in recent years.
The directors also suggested there could be a move of premises longer term: “For the foreseeable future, New Beacon Books will continue to be based at its current premises. We will be continuing to look at ways for a long-term sustainable future.”
They paid tribute to the people who helped them in the campaign: “We have been overwhelmed by the positive response to the online crowdfunding campaign and the many in-person purchases by the community.
“We want to emphasise that all the funds received will be accounted for in a transparent and coherent manner. We will keep everyone informed on a regular basis as to our progress. We would like to express again our heartfelt appreciation and gratitude for this support.”
The independent bookshop was founded in 1966 by activist John La Rose and Sarah White.
