| Login or register so that you can make a comment. | No comments. Be the first to make a comment. |
Crowdfunding
Finance without banks
Suppose you have an idea for a new project – it could be a business, an expedition, an offer of equipment to the community: there are practically no limits, as long as it’s something concrete, and do-able.
Edition 703 (10 Nov 2011), 
No Comments »
No Comments »
In almost every initiative, or dream even, the first obstacle is money. But now there are all sorts of alternative methods of finance available – none of them involving banks! They’re connected with other people’s interests.
The concept is known as «Crowdfunding» (collective financing). It’s a simple way of raising funds for projects using a platform that brings together other business people (all of which could become potential investors).
The idea arrived in Portugal via four young people - Paulo Silva Pereira, Yoann Nesme, Pedro Domingos and Pedro Oliveira – who met up at the Lisbon MBA International and share “a passion for collective collaboration and the potential for innovation that exists in each individual”.
Together, they have created the PPL website (the English abbreviation for “people”): http://www.ppl.com.pt
Although only in operation since August this year, PPL already boasts success stories - with some projects receiving 100 per cent funding. One of these was the €3.500 needed by a Portuguese journalist for the printing of a children’s book to distribute throughout schools in Maputo, Mozambique
Transparency is one of the pillars of «crowdfunding». For example, if an individual succeeds in raising the money he or she needs for a project within the stipulated time frame, they’ll get full financing (which may exceed 100%) and will then have to pay 5% to the “platform”. If, however, a project fails to raise the money required, there are no costs – and any money raised is returned to all the individuals who have supported it.
The PPL team is convinced that Portugal has many creative people with the wherewithal to instigate new projects. «Crowdfunding» can also be a perfect tool for small and medium-sized businesses.
To submit a project to the platform is easy. All you have to do is fill out an online registration form and wait for it to be accepted. For the time being, the PPL team is more interested in quality than quantity – but who knows if that doesn’t include you, or your idea?
Related Articles
