Instead of asking customers to donate directly, Mason, contributes 10 percent of each buyer’s purchase out of his business’s coffers through the
To many business leaders and entrepreneurs like Mason, crowdfunding is a forward thinking mechanism for doing something good in the course of doing business, something that inevitably helps out a person or persons in need.
Crowdfunding is something that appeals particularly (but not exclusively) to a younger demographic of entrepreneurs who feel an obligation to be a part of the solution, and we say more power to them! In Mason's case, he created an unusual twist to the crowdfunding concept by setting it up for the customers to vote, an awareness-heightening tool that is not soon forgotten.
People in need turn to the
“Crowdfunding in many instances still has some kinks to be worked out, but with a little ingenuity and a genuine desire to make a difference, business leaders can work collectively with consumers to save the world,” Mason says. “Or at leas a small portion of it, one family at a time.”
There are many different mechanisms through which these crowd funding platforms are made available. Crowdfunding comes with limitations if you’re planning to earn a profit, which is illegal at this point. In fact, the
But Mason’s style of crowdfunding is not only legitimate, it’s good business policy (and good karma.) The type of crowdfunding I’m talking about combines ordinary, hard working businesses that feel they have a duty to help solve social and environmental problems within the world community. Crowdfunding doesn’t always have to be a gift never to be paid back. Some business owners apply crowdfunding principles to loans, but the loan must be repaid interest-free. There must be no expectation that anyone who lends money will make a profit (interest) on a crowdfunding loan. While there may still be lending laws that apply, it won't trigger the prohibitions under securities' laws, as long as you don't charge interest.
While there may be some high profile examples of projects that have raised millions through crowdfunding, most do not; not yet, anyway. In fact, most commercial ventures raise very little through crowdfunding. If the intended purpose is kept up, if crowdfunding remains and grows into a strong case for unadulterated corporate altruism, hopefully it will continue to grow and fulfill its promise – to make business a better citizen.
For more information on CabinetHardware.org's crowdfunding and e-commerce opportunities, visit the CabinetHardware.org website,.
CabinetHardware.org is a combination e-commerce website and crowdfunding platform founded in 2013 by entrepreneur
Read the full story at http://www.prweb.com/releases/cabinetHardware/crowdfunding_e-commerce/prweb11265122.htm
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