Guidelines for Crowdfunders
The “Guidelines for Crowdfunders (people who are supporting Crowdfunding ideas)” aims to answer typical questions from people who would like to support a Crowdfunding-project.
This guide aims to answer typical questions from people who would like to support a Crowdfunding-project.
Most of the active Crowdfunding-platforms provide a section with Frequently Asked Questions and Answers on their portals. These sections are both for project-owners and for supporters/investors.
In the writing of this report, we asked Crowdfunding-experts from the Crowd-Fund-Port partner-countries (Austria, Germany, Italy, Croatia, Slovenia, Slovakia, Poland, Hungary, Czech Republic) about their experiences and what makes a platform trustworthy.
In this publication we combined all this information to create one final document aiming to answer the most common questions related to Crowdfunding (in Europe).
The Guidelines for Crowdfunders contain:
- Frequently Asked Questions from supporters (general questions, specific questions about Crowdfunding-platforms, specific questions related to reward-based Crowdfunding, specific questions related to equity- and lending-based Crowdfunding)
- an exemplary list of available FAQs from Crowdfunding-platforms
- local/regional resources for Crowdfunding supporters
There is a huge variety of offline and online resources for Crowdfunding-project-starters and project-owners, but comparably little information for supporters and crowd-investors. Especially first time supporters do not easily find answers to questions like “how trustworthy is Crowdfunding?” or “how trustworthy is this Crowdfunding-platform?”. These and similar questions are being tackled in this publication, aiming to strengthen the knowledge about Crowdfunding not only amongst SMEs, but also their crowd – the supporters and investors.
If you are looking for a comprehensive collection of questions and answers about Crowdfunding from the point of view from a supporter, these “Guidelines for Crowdfunders (people who are supporting Crowdfunding ideas)” will be your number one resource.
How do I recognize a trustworthy project?
You should always double-check the campaign and get your own picture – check the platform, ask other supporters, check the budget, watch and analyze the video, analyze the communication, find out if there’s a prototype, google the team, read the companies story etc.
What are the differences between each platform?
There are more than 600 Crowdfunding-platforms operating in Europe, more than 250 platforms in the Central Europe Countries. Most of these platforms offer similar services, but also many of them follow a slightly different approach. Differences may occur in the Crowdfunding-model, the industry/context, the payment-system, the languages offered, the community-size, the quality control etc.
How do I recognize a trustworthy platform?
The following factors are important to building trust as a Crowdfunding platform: the platform has an imprint and a contact-address, it is collaborating with trusted partners like banks, chamber of commerce etc., it has a FAQ-area, tt is following some kind of code of conduct, it is using secure and well-known payment services, it is using high standard technologies for security and backup. it is member of a national or transnational (Crowdfunding-) association, it is a (lively) part of the Crowdfunding community and ecosystem, it is an older platform with a certain track record and experience etc.
Where do I get information about Crowdfunding in my country?
In our guidelines we also list local/regional resources who can help Crowdfunding supporters in finding answers to their questions.
And many more…