Let potential sponsors come to you…

Crowd funding is a relatively new concept for funding creative projects which make use of online communities to pledge small amounts of money which can be from individuals, companies or professional sponsors. The difference with this type of funding is that potential sponsors come to you, rather than you to them.

Projects can be posted to the site by either organisations or individuals, and donors are then encouraged to invest to make the projects happen. In return donors receive exclusive benefits offered by the project owners.  You might credit their donation or include their logo in your marketing materials, but this might also include opportunities to receive free tickets and invitations to an event, meeting artists or performers back stage, or other quirky gifts or acknowledgements of their support. You could choose to set an income target by a particular deadline or leave it open to receive on-going donations.

How does it work?

Typically you will need to register for an account and then input information about your community project or event, together with the target you would like to reach and the benefits you will be able to offer. After this information has been vetted and a launch date has been agreed, your project then goes live and potential sponsors can then sign up to support your project.  The majority of crowdfunding sites are designed to cater for one off creative or charitable projects.

Further information

For a rundown of popular UK crowdfunding sites click here.
The UKCFA (UK Crowdfunding Association) is the regular for the crowdfunding sector, promoting standards and a framework, read more here.

Click here to go to the next section ‘Grants and Trusts’

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