Let’s Get the Crowd Out—Or Rather Bring Them In
Crowdfunding isn’t a magical well of money, but for social enterprises it is an effective method for raising awareness and financial support. Crowdfunding has helped social entrepreneurs like Sock Monkeys Against Cancer raise upwards of $30,000, and The Do Good Bus with its effort to raise $100,000 to take its altruistic adventurism on the road.
Websites like Kickstarter, causeVOX, indiegogo, and community funded, have created a nationwide buzz, and non-profits are eagerly incorporating the crowdfunding model into fundraising efforts. This model has morphed the traditional method of fundraising into fun social media movements that enable people to rally around a cause, and as a secondary effect donate money to solidify their commitment. An ideal reaction for non-profits and social enterprises, which are established to benefit the broad public interest, and like crowdfunding, tends to grow from populist roots.
In 2012, President Barack Obama signed the Jumpstart our Business Startups (JOBS) act into law. The act was a game changer for small businesses and entrepreneurs, affecting their ability to solicit funding from potential investors. The concept of crowdfunding is not new, in fact, it has been used for decades by businesses, organizations, musicians, and even Hollywood to generate public advocacy, awareness, and financial support. By legalizing crowdfunding the JOBS Act lessened regulation burdens imposed on small businesses, and removed the ban on general solicitation that prevented entrepreneurs from publicizing fundraising campaigns.
reSET announced on August 1st that we too would be leveraging the power of crowdfunding, using the site www.startsomegood.com/SEIF to raise awareness for the Social Enterprise Investment Fund (the SEIF), which is an investment fund established to give loans to ambitious social entrepreneurs in Connecticut. Our campaign is serving as a social media megaphone for social enterprise and asks supporters to help spread the word about social enterprise in CT. With the launch of the SEIF we have literally put our money where our mouth is, taking our commitment to helping grow the social enterprise sector one step further. It’s exciting, and a minimum of ten social enterprises will receive funding from the SEIF annually, which will directly impact the growth of social enterprise in Connecticut.
Using crowdfunding as one avenue for generating funds for the SEIF allows for the power of participation and the communication from supporters who can share information about social enterprise, and the SEIF with other like-minded individuals. The possibility of spreading reSET’s mission to a global audience by not asking for anything, but by inviting people to help us make a difference and lead by example is the genius behind this campaign.
No donation is too small, and no voice is too loud. Even if you have only $10.00 to give, know that you are joining us in a big way by spreading the message, and becoming part of the social enterprise movement. By contributing to our www.startsomegood.com/seif campaign you are investing in the future of businesses that combine purpose and profit for the greater good of our communities. Our campaign continues through August, join us.
