A online corporate fundraising scheme has launched which links London businesses who pledge to donate at least one per cent of their annual profits with a charity.

The scheme calls on businesses in the Capital to become part of the '1% Club' and donate a portion of their annual profits to a charity listed on the website.

Currently, five charities, including cancer charity Clic Sargeant, are listed on the site, which is free of charge.

The 1% Club estimates £360m a year could be raised if 10 per cent of small to medium businesses in London donated 1 per cent of their profits.