A meter man drove home and decided it was his time after receiving another verbal warning. “I gotta do it, Grace, I just gotta take a shot, that guy just got to me today!" he said to his wife. The next day, he walks into the bank, with a perfect plan that’s going to bust him out of his rut.
Unfortunately for the meter man, banks don’t always share our vision. The loan officer looks over the business proposal with critiquing eyes and says “I don’t really understand it, what do you want this loan for?" The meter man replies “I want to build a giant space station that can destroy a planet." The loan officer sighs and says “I don’t know that would be a good investment on our end."
The meter man stammers and backtracks, “I mean... I want to open a sports bar."
Space station, sports bar, what’s the difference?
For those unfamiliar with the joke, this is an infamous scene from Family Guy, and Darth Vader is the meter man looking to secure a small loan for his ultimate weapon. However, as with all jokes, there is a kernel of truth to it, banks do not always share our vision for intergalactic domination!
Not all good ideas are financed through large institutions like banks. Accredited investors more often than not also like to help invest in ideas they consider worthwhile. There’s just one problem though, do you know many accredited investors? Chances are, you don’t.
When a bank is a bad idea, what’s my alternative?
Crowdfunding has been helping people advance their ideas without large banking institutions for some time, and many great ideas have come to life off of the drawing board through crowdfunding, but many great ideas have died along the way as well. This is where equity based crowdfunding is stepping in.
A new concept, and only recently deemed legal by crowdfunding regulation, equity based crowdfunding is now available to the general public, meaning anyone, anywhere with amounts as small as R250 can earn pieces of businesses, and become investors themselves!
Crowdfunding it is! Who do I choose?
Good question, and unfortunately we can’t answer this one for you. What we can do is point you in the right direction.
And if we’ve already piqued your interest, we suggest you take a look at startupapp.africa/funding. We’re an equity based crowdfunding startup in our own regard and we recently conducted a successful raise, which not only succeeded but surpassed its original goal to the tune of 183%!
So, if you think you’ve got the idea, we think we’ve got the platform for you, come take a look today!