Alternative avenues to obtain financial support and funding: crowd-funding.

A very common alternative way to receive support for any business, organization and cause is by making or receiving donations. 

Crowdfunding is the most widely known form of receiving donations.

Crowdfunding is the practice of funding a business, project or venture by raising small amounts of money from a large number of people, typically via the Internet.

• “Rewards-Based” Crowdfunding – allows the owner of the project, business etc. to “sell” items related to the project or business in turn for a person’s donation. For example you will receive a t-shirt or a voucher for every R 500.00 you donate.

• “All – or – Nothing” Crowdfunding – the project’s or business’s donation has to reach a minimum goal (often referred to as a “tipping point”) for the donations to pay out. If they do not reach their minimum goal the people who did make donations will receive their donations back without banking fees.

There are many options for South Africans to use crowdfunding. Below are the most popular ways as well as links to the websites.

BACK-A-BUDDY: Back-a-Buddy is a South African based crowdfunding platform that allows you to set up “campaigns” to raise funds.

These “campaigns” can be for anyone and anything as long as it will have a positive impact on the community or individual the “campaign” is set up for.

You can create a “campaign” on the Back-a-Buddy site, then share your “campaign” link with friends, family, and colleagues to invite them to make monetary donations.

Creating a “campaign” is free and there are no penalty fees if you don’t raise funds. There are also no time limits placed on campaigns and no penalties if you don’t reach your target.

You can also carry on receiving donations after you’ve met your target. Link: https://www.backabuddy.co.za/

Is another South African Based crowdfunding site, however they do branch out to other countries, this allows more people to be involved.

Set up your “campaign” by selecting the pink start your campaign icon. Then select a monetary goal amount.

Give your “campaign” a unique heading, add pictures and/or videos and start driving your “campaign” by sharing it with your friend and family across all social media platforms.

Click ‘n Donate has wonderful guidelines on their website that detail how you can drive your “campaign”. You can also easily track your progress by viewing your “campaign” on their website. Link: https://clickndonate.com/

Is also one of the few South African based crowdfunding sites which has appealed to small business interests.

Thundafund also couples projects with business and mentorship support services.

Thundafund couples both crowdfunding types mentioned above, and has guidelines on the criteria you need to meet before your “campaign” goes live.

To set up your “campaign” you have to register with the website and submit your “campaign” idea, please see their website to view their criteria as mentioned above.

Costs: Once your project is successfully funded Thundafund receives a commission on the final amount crowdfunded: • 5% for certified NGOs; • 7% for individuals and organisations. Link: https://www.thundafund.com/

As the most commonly used social media platform for individuals and businesses, it is no surprise that Facebook also offers crowdfunding.

To create a personal fundraiser for yourself, a friend or your business on Facebook you have to select Fundraisers in the left menu of your News Feed. Select Raise Money then select Yourself, Friend or Your business on Facebook. Select a category. Add a cover photo and fill in details about your fundraiser then select Create.