5 Reasons why Crowdfunding is the Perfect Launch Platform for your Social Enterprise

The concept of crowdfunding is a fast growing one. It is slowly and steadily overtaking the more traditional ways of funding for social enterprises. While money is the most important aspect of this concept, it is not the be-all and end-all of it. There are manifold advantages to using an online platform to launch your social enterprise. With technology at our fingertips, acquiring targeted reach, visibility, and collaborations is now easier than ever.

So here are 5 reasons why crowdfunding might just be the perfect way for you to launch your social enterprise:

 

1) More efficient than traditional ways of raising capital

As opposed to the traditional method of personally making pitches to donors, crowdfunding for social enterprises on an online portal is far more efficient in getting your message out to lots of people, and to the right audience. Besides that, the cost of launching a crowdfunding campaign is little to nothing.

 

2) Great platform for a powerful story

It is a great platform to showcase the authenticity of your initiative. Through a powerful campaign, you can gain the confidence of donors, and show them how much of a difference their contribution can make to your efforts in creating an innovative solution for the society.

 

3) An efficient marketing tool

It is a great way to analyze and gauge the reactions of people towards your cause, through which you can partially determine the success of your campaign. All you need is the perfect online portal for the project you would like to raise funds for. Even with a few supporters in the beginning, you will find it remarkably easy to create a strong database of like-minded individuals. That said, effective marketing will even facilitate collaborations.

 

4) Generates new ideas and feedback

When you run your campaign on various social media platforms, you tap into many different audiences. Each type of audience will have a different take on the concept you are putting out. As long as you can engage people and start conversations, ideas from different people will keep flowing in. Aside from that, it is a great way to get feedback and improvise on the shortcomings of your campaign.

 

5) Polishes your business and management skills

Running a full-fledged campaign involves analyzing, strategizing, marketing and PR, having impactful communications, and employing quick decision-making abilities. Not only that, you will find yourself juggling several tasks at the same time, which will polish your time management skills as well.

 

Every great idea requires a secure source of funding. To put it simply, crowdfunding can bring out the creative potential in every initiative. So, if you are raising funds for your venture, these benefits are worth considering.

Interested in participating in the Social Enterprise Challenge, 2017 and taking your venture to the next level through crowdfunding? SEC 2017 has an array of attractions and cash grants for social entrepreneurs.

Start a fundraiser to power up your social enterprise and maximize impact now!

 

Valentine’s Day – Be someone’s Valentine by Giving

Valentine’s day is just around the corner. If you’ve been wondering how to celebrate it this year, we suggest doing something meaningful like crowdfunding. Something that adds value to society, or benefits people of lesser means. The few bucks you spend on chocolate and roses can actually have a huge impact on the life of a child, or an aged or ill person in need.

 

We recommend celebrating Valentine’s day by giving to charity. You can be a valentine to someone in need, and we promise it’ll be worth it!

 

Here are a few ideas for Valentine’s day, and how to celebrate it in a meaningful way this 2017:

Switch your expensive dinner by feeding the hungry

 

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Instead of going out on a date to an exorbitantly priced meal for two, you could stay home and cook a home cooked meal for your loved one. The money that you save from that one expensive meal can be donated to a program or a charity that feeds the hungry.

 

Switch your bouquet of roses for a tree plantation drive

 

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Rather than buying a bouquet of roses, you could support an environment foundation by giving your savings to a tree plantation drive that will make our environment a better place to live in. Breathing clean air is definitely worth the bouquet of flowers you pass on!

 

Switch your romantic weekend getaway by providing to a shelter home

 

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A weekend away to celebrate Feb 14 with your loved one is a great idea. But you could also consider directing the money you spend on the trip, to provide shelter for homeless or needy people.

 

We hope this list of small and meaningful ideas helps you to reach out to those in need. Celebrating with random acts of kindness can be the most rewarding feeling in the world. So, go ahead and be a valentine to someone in need!

 

 

 

 

 

 

What the Budget of 2017 means for crowdfunding in India

The budget 2017 has brought both challenges and opportunities to the nonprofit sector in India. The two main announcements that impact the development sector are expected to completely change the landscape of how people do charity and how nonprofits accept it. The first is the cut down on the limit of cash donations one can make, second is the alterations in the tax exemption clause.

 

The recent demonetization move in India revealed what digital India will look like in the years to come. That said, social problems won’t be going away anytime soon, so the need to fundraise is indispensable.

Let’s discuss what the Union budget announcements of 2017 will mean, and how they will impact the world of crowdfunding.

 

Reduction in amount of cash donation

 

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The amount of cash that one can donate anonymously to an organization has been reduced from Rs 10,000 to Rs 2,000. This is a major crackdown on political funding. It is a bold step towards curbing illegal activities and money laundering that nonprofits may be involved in. In any case, it will always be more beneficial for a genuine donor to give donations with proper documentation and through registered banks because it will add credibility and accountability to the organization’s utilization of the funds.

 

So what does this mean for crowdfunding in India? It means that nonprofits need to start embracing technology and digital tools to raise money for their cause. No longer can they sustain themselves in this competitive ambiance, by using traditional methods of fundraising. They will have to invest their efforts in online fundraising platforms such as Impact Guru.

 

Removal of clause 35AC

 

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Clause 80G allowed a tax rebate of almost 50% and 35AC of almost 100%. The union budget 2017 announced the removal of clause 35AC, which has been a cause of worry for the development sector. It allowed 100% tax exemption to individuals and companies that donated to certain specific charities that are required to be verified by the central government. Experts believe that removal of this provision will also remove the most valuable incentive that motivates people and organizations to donate.
With regards to crowdfunding, it means that nonprofits will have to use newer and more creative techniques that incentivise people to donate. Online crowdfunding platforms use digital and social media tools, as opportunities to draw in funds. 

Therefore the time has come for more people to shift to such platforms and create new processes to sustain that conducive environment for giving in such times of unpredictable dynamism. 

More and more charities have begun to see the need for digitization in achieving their social mission, and the announcements in the Union Budget of India 2017 seem to be a positive catalyst for it. It remains to be seen how nonprofit organizations react to the changes that are coming their way.

For any queries regarding online donations, you may visit Impact Guru and speak to our fundraising consultants for more clarity on recent developments.