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Crowdfunding – the new trend in funding

Muswell Hill VA
Have you heard about crowdfunding yet?  It’s a brilliant concept that allows small businesses, community & art projects to obtain funding without having to go to the bank.

Bel & BrisketThe concept is very simple, a large number of people can support an idea with only a small amount of money.  The idea began in the States sometime ago but it is catching on rapidly in the UK.   It was initially just directed at creative projects but now you can find a crowdfunding website for any kind of project as long as it’s genuine & is a good idea!

I was initally made aware of the concept by Bel Shapiro who owns ‘Brisket & Bel’ a small business selling all types of salt beef sandwiches.  ‘Brisket & Bel’ operates as a street food outlet & Bel has had the brilliant idea to convert a horse box into a trailer for selling salt beef & beer at festivals  & street markets.Pleasefund.US

Bel & Brisket Trailer Project      http://www.pleasefund.us/projects/the-bell-brisket-trailer

The way it works is people can donate as little as £10 & in return they are offered some sort of reward such as a discount voucher when the project is achieved, the project is only given a certain amount of time to run & if the target amount is not achieved the money is returned.

Bel is using a website called Pleasefund.us & she had this to say about how the process has been for her:

“So far my experience with Pleasefund.us has been really positive. There is still a long way to go with the project but they have been really supportive and don’t just leave it to you to do all the work. You never really know what the response to your project will be, and I think it’s important to constantly reassess what is working and what isn’t; are the rewards appealing enough?  Is the profile to long? Does it get to the point fast enough? It’s a big ask these days to get people to commit their hard earned cash to a project like this so you have to assure them that they will be generously rewarded if not financially then in kind.”

Crowd funding itself is a wonderfully creative concept bought about by the tough financial climate, so let’s hope that with the banks & the government tightening the purse strings people will still be able to find a way to achieve their goals.

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