Notes
AfricaBizFund is a crowdfunding platform through which owners of Small and Medium Enterprises can raise funds for their businesses. Funds are raised from a crowd of people willing to invest small amounts of cash in a business. In the current economic climate, everyone knows how difficult it is to raise funds for SMEs ( especially for startups and early stage SMEs ) from traditional sources like banks, venture capitalists, business angels, etc. Crowd funding provides an alter native to traditional funding methods.
As a crowd funding platform, SMECrowd offers a quicker and easier way for raising funds. SME owners simply submit details of their businesses to us. Once a business is select ed by our select ion committee, it will immediately be included in the list of businesses available for crowd funding.
Investors can shortlist businesses that they would like to invest in. Once registered, investors simply add funds to their AfricaBizFund accounts using a debit / credit card or Paypal account. Investors can invest as little as £10.00 in any business they are interested in. Any money invested is deducted from their SMECrowd accounts.
SMEs will receive the funds pledged only if the targeted amount is reached within a specified timeframe. If the targeted amount is not reached, the money pledged is returned to the investors AfricaBizFund accounts so that they can commit their funds to other businesses.
