Raisedough to help crowdsource funding
21 May, 2012
Food and drink businesses have a new channel of funding via crowdsourcing specialist Raisedough. The ‘social finance’ model sees businesses that want to raise equity funds set up an investment pitch with a business plan, financial details and a video.
These are then placed on the crowdfunding platform to be viewed by around 15,000 registered investors, who then decide whether or not to put up money. Businesses can use tax incentive schemes like the Enterprise Investment Scheme to make any money that is contributed go further.
Raisedough was launched by former chef and food and drink sector consultant Richard Reeves. He said the widespread public interest in food and drink makes hospitality businesses ripe for investment of this sort. “Times of austerity often seed great innovation and food and drink entrepreneurs are growing their businesses in a new socially-connected economy and seeking new ways of financing growth outside of the traditional routes of business angel, venture capital or bank financing. Crowdfunding is an innovative option to enable businesses and entrepreneurs to bring their plans to life.”
For more information about the Raisedough model, click here.