Crowdfunding: what you need to know before parting with your cash

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Crowdfunding: what you need to know before parting with your cash

Picture: iStock

In a country where fraud and Ponzi schemes trickle down from the halls of Parliament to the pavement peddler, suspicion may be warranted.

It’s helped launch businesses, academic careers, music albums, bolstered the reach of much-needed charity organisations and even saved lives. And yet there remains a modicum of suspicion among those who still do not know about crowdfunding and how it works. Simply put, crowdfunding is carried out via a platform that acts as mediator between project creators and the general public (the crowd), who fund the project within a predetermined time frame. Wynand Myburgh, the manager and bassist for local award-winning rock band Fokofpolisiekar, says we live in a time where people will use whatever medium to channel your cash into...



 


 

 

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