Breakfasters were presented with a challenge at this month’s meeting … with no warning at all!
They were asked to confine their usual “60 seconds” to the equivalent of a tweet in order to allow proper time for Justin Grainger, of CrowdFundMe2, to explain how different forms of crowdfunding work.
Most rose to the challenge and we learned that Kim Morrison (Morrison Social Media and Morr Marketing) and Sammy Teather (Be Your Own Graphic Designer) were now running courses on Instagram for Businesses. Bob Scott (Niche Cocktails) arrived with bottles of Black Magic, Green Dragon and Pink Perfection specially mixed cocktails. Elaine Bowen (Vanguard Communications) has been chosen as a finalist in the Bury Free Press annual business awards. Chris Storey (SB Chartered Surveyors) had added puppy training to his list of skills and Mike Drain (Superb Airport Transfers) answered a last-minute call for help from someone who had been let down at the last minute and needed to be at the airport for 4am!
Crowdfunding explained
Justin Grainger, of CrowdFundMe2, gave a very informative rundown on the main types of crowdfunding and their purpose.
They are:
Equity, Debt, Donation and Reward crowdfunding.
Equity crowdfunding: generally used by start-ups and new businesses to raise investment in exchange for either shares or a share of profits.
Debt crowdfunding: used by businesses to raise money to pay off debt, with the investors receiving repayments either monthly or after an agreed period of years.
Reward crowdfunding: in exchange for their investment investors either get a special version of the product being created or a special mention as an investor.
Donor crowdfunding: usually to raise money for a “good cause”.
Crowdfunding is carried out by various specialist online organisations such as Kickstarter, Crowd Cube, Funding Circle, and both equity and debt crowdfunding are regulated by the FCA, the Financial Conduct Authority, which vets the information put out by such organisations on the internet and also requires them to ensure that potential small investors have proper financial advice before investing their money.
Peter’s Bees
Chairman Peter and Queen Bee were back with an endorsement for Emma Joy Staines and her Aloe Vera products which rapidly dealt with a huge bruise Peter had sustained after tripping and falling while on a ship.
He also reminded us about forthcoming events including our “How to win Business and influence people” Learn, Laugh and Loiter supper on September 28 and plans for a social event at Prezzo in October.
Any comments or suggestions for the future please contact the Chairman, Peter Down at:
Please note that cut-off for booking Coffee Mornings is Thursday at midnight the day before and for Breakfasts is Wednesday, 12noon of that week as we have to let The Mix know numbers!
Networking Breakfast
Friday, 15th November 2024
7.15am-9.00am at The Mix Stowmarket
127 Ipswich Street
Stowmarket IP14 1BB Book here
Members £19.00/Visitors £24.50
Zoom attendees join at 7.45am
Online Members £4.50/Visitors £6.00
