The business of crowdfunding

JOHANNESBURG – Entrepreneur Harry Heydon has recently launched a South African-based crowdfunding website at https://thecrowdsite.com.

The main themes of the site centre on economy of use and security of users funds, ease of use and accessibility for projects/people that have little or no online experience, categorised as:

* Economy of use: The only “out of pocket cost” to users of thecrowdsite platform is an annual fee of R100. There are no other fundraising fees or percentages levied, thus it can be seen that the intention of the founder is to provide a public service rather than creating an administration cash generator.

* Security of user funds: All funds raised are paid directly to platform users’ bank accounts/PayPal, etc. Platform administration does not handle or process any funds at all. This provides real security to users in that hackers cannot access any central e-wallet and siphon members’ funds, nor is it possible to commit any form of fraud involving users’ funds.

* Ease of use: thecrowdsite.com is extremely user-friendly. It is a reality that even project managers who have minimal online experience can get their Project Page, etc, fully set up and ready in less than 15 minutes. To make the path smoother, site administration provides a free members’ manual that has step by step instructions on set up and promotion of projects on social media and the internet.

* Accessibility: With a platform policy of “Any legal or moral project” being acceptable, thecrowdsite.com makes its platform accessible to everything from new business funding through to NGO and church funding, and even makes provision for the family that wants to educate their child or fund a wedding. 

Supplied/PERSONAL FINANCE