Here are some of the key terms you'll come across on your crowdfunding journey.
A project is an individual or collaborative enterprise created to achieve a particular outcome. This could be anything from building a community centre to publishing a book, opening a cafe, starting a business, recording an album or supporting a charity.
A project owner is the person who sets up and manages the project.
Supporters are the people who pledge on or donate to a project.
The majority of funding will come from your friends, family, co-workers or community. Some back a new effort from an organisation they've long supported. Others are inspired by an exciting new idea or tempted by project rewards (see below).
Pledging on a project is more than just donating funds and it's not the same as purchasing items from a shop. It's about supporting something you want to see exist in the world and becoming a part of making it happen.
The target is the total amount of money that a project needs to reach in order to achieve the stated outcome, or the total amount they'd like to raise for their cause.
Rewards give project owners an opportunity to thank their supporters and share a piece of their project with them. Rewards are usually items, services, experiences or sponsorship opportunities that are unique to the project.
There are two funding options on Crowdfunder:
- All or Nothing – You will only receive your funds if you meet your target. This is best suited to projects that need a set amount of money to meet their aims.
- Flexible Funding – You will keep all funds (minus fees) whether you meet your target or not. This is best suited to personal fundraisers or charitable projects.
Finally, if your project is eligible, you can also take advantage of our extra funding pot, which offers match funding from our partners in the public and private sectors.
Need more inspiration? We've created a free online learning resource that provides a step-by-step guide to crowdfunding success. You can also take a look at projects already raising funds on our platform here.
Ready to start? Head over to our home page to begin creating your project page.