You cannot reduce your crowdfunding target once you have started your campaign. We state at the outset that Spacehive uses an all-or-nothing crowdfunding model, meaning that you need to hit your target in order to receive the funds you raise.
Offering an option to reduce targets means that this model would be compromised. We believe that it is important to plan your project carefully and then once happy with your fundraising goal, that you commit to it. This means that your project can be delivered as laid out on your campaign page, rather than a reduced version of it, which would be misleading to backers.
If after starting your campaign you feel like the target is too ambitious, we stipulate that you must end your crowdfunding campaign and refund backers. With your project back in draft mode, you can scale it down to a size that you are more confident with, and start crowdfunding again.