An innovative legal guide has been developed to provide insights into crowdfunding as an alternative fundraising tool for social ventures.
The 'Crowdfunding Guide for Social Ventures', which launched on 7 September, is produced by the Thomson Reuters Foundation in partnership with Mishcon de Reya and The Young Foundation. The guide is published by TrustLaw, the Thomson Reuters Foundation’s global pro bono legal programme connecting law firms and corporate legal teams around the world with high-impact social enterprises and NGOs seeking free legal assistance.
Charlotte Davidson, Solicitor at Mishcon de Reya who worked on the guide, commented: "This report is a very valuable resource. The information it contains will help those setting out on social ventures, and the principles outlined in it are also applicable to other businesses, so it should prove a useful resource for any entrepreneur."
Daniel Rostrup, Programme Manager for TrustLaw commented: "In recent years, ‘crowdfunding’ has become a buzzword, but is crowdfunding just hype or indeed a viable fundraising tool? This guide answers the question. It provides essential advice to those considering crowdfunding to finance their social ventures. It’s a must read for those in this space."
Greg Winfield, Associate at The Young Foundation, added: "The Young Foundation aims to tackle inequality in society through a range of means, including support for social ventures and grass roots movements. Crowdfunding has potential to help this type of project, especially those that may not appeal to the more traditional funding sources, to build financial backing for their work and engage their supporters in driving forward change. However, it is not a panacea, nor is it appropriate for everyone, so this guide will really help people navigate a new funding approach."
If you would like to find out more about the guide, please contact Charlotte Davidson.
Charlotte Davidson recently featured on Soho Radio talking about Crowdfunding. Listen here.