Are you looking for an easy way to raise funds for your business? Do you have a great product idea but don’t know where to start? Then crowdfunding might be what you need. 

The first crowdsourcing platform was launched by Jeff Howe back in 2008 and is now known as Kickstarter. But what is crowdfunding?

What is Crowdfunding?

Crowdfunding is a new way to fund projects that involves raising money through an online platform. It allows anyone to contribute small amounts of money to support a cause or business idea. It gained popularity due to the rise of social media. It lets networking and advocating for your project to a big audience easy.

What are the benefits of crowdfunding?

There are many reasons why people choose to crowdfund their projects. Some need money to pay off debts, while others want to help a loved one. Here are a few that will make you consider crowdfunding:

✔ Raising money from many small investors instead of one large investor. Getting multiple sources to fund a particular project is a good thing. Burning capital through just one pocket might be risky if it runs out of money. With crowdfunding, you get multiple people to support you anywhere you want to go. On that note, we give this next benefit.

✔ Great way to build relationships with potential customers. The multiple supporters of your project will be your first customers. If they believe your business or project idea the first time they hear it, they will surely try it for themselves and even advocate for you.

✔ Simple and straightforward. Crowdfunding is a relatively new concept. In the business world, we are used to doing things professionally and documented. Crowdfunding may seem like a daunting method to finance your business at first. With some research and planning, crowdfunding may surprise you with how easy it is to use. We have busted some crowdfunding myths here.

✔ Fund for anything. Yes, anything under the sun. Aside from raising business capital, you can also fundraise for your medical bills, school tuition, or even your dream vacation. 

Now you may stop here and ask, “but is it legal if I’m raising capital for a business?”

Is crowdfunding legal in the Philippines?

The Philippines welcomed innovation advancement in the financial environment back in 2019. In that year, the Securities and Exchange Commission (SEC) approved the rules for crowdfunding. The approval provides easy financial access to small to medium enterprises (SMEs). It also ensures fairness within the platform for the protection of the financers. Here are some of what you need to know about those rules:

✔ Crowdfund through registered online platforms only. Research to make sure you are crowdfunding on a legitimate platform. The platforms must submit the requirements mandated by SEC. Crowdfunding through these platforms will protect you from fraudulent risks and other liabilities. Start reading here for the top crowdfunding platforms in the Philippines.

✔ Information transparency. Check how the crowdfunding platform is transparent with how they operate since it involves finances. Relevant information on crowdfunding activities, fees, terms of use, refund process, and privacy policy should be disclosed.

✔ Customer service. If anything goes wrong, you should be able to communicate easily with the crowdfunding platform provider. It could be through a phone call, email communication, or social media pages.

With these few points, we can say that you’re safe and good to go in using crowdfunding for your business in the Philippines!

Crowdfunding in Airfunding

Now that you have a strong conviction in beginning your business journey through crowdfunding, use Airfunding to jumpstart your financial goal. Airfunding has become popular in the Philippines and the whole world. It is a donation-based crowdfunding platform that lets you tell your story and receive funds without returning any of them.

✔ Worldwide community. More than 783,000 inventors, entrepreneurs, supporters, and the general public from all over the world joined the Airfunding community to make a change in their or others’ lives. When the COVID-19 pandemic started in 2020, Airfunding created a space for those looking for financial support.

✔ Crowdfunding tips. Get to learn different tricks to make your fundraising activity successful with tips prepared by Airfunding. Our community of project owners will also help you with some peer tips to achieve your financial goals.

✔ Yes to all of the above. The things we shared with you above in this article are things you will find in Airfunding. 100% guaranteed! Here’s a success story from Ben Santos of the Philippines that will inspire you. One month of fundraising in Airfunding helped him raise funds amounting to $2,378 (₱132,835.08) for his mom’s medical bills.

So if you’re ready to get started fundraising, register in Airfunding today, and we will help you raise the money you need.

Other Articles

1. How can I raise money: Best Crowdfunding site – Airfunding
2. Airfunding: How to receive my collected funds

Flipino household expenses have reportedly surpassed pre-pandemic levels and are growing. Poverty is and will be a long-standing problem in the country affecting 23.7% of the population if this growth continues. In numbers, it’s millions of Filipinos struggling to live day by day.

So how do they cope? Filipinos have resorted to third-party financial assistance to accommodate their necessities. But with the pandemic still present, most have sought help digitally.

Online Fundraising for a Cause

The digital space expanded at the start of the pandemic. Most everyday activities – work, grocery shopping, medical consultations, etc. – have shifted to virtual set-ups. And so does fundraising.

Despite community quarantines, Filipinos have found a way to show bayanihan virtually. Bayanihan is a remarkable Filipino value showing the spirit of civic unity and cooperation among the Filipino community. Here are online fundraising ideas that Filipinos have used to encourage bayanihan and raise funds for a good cause.

No. 6 Online Shopping Proceeds

The popularity gain of TikTok and Instagram Reels has made everyone craftier than ever. Creativity is used to either build their community or business awareness. And you can do it to raise funds too! Get creative and make things that you can sell. Take a video or photo of it, post it online, and remember to caption that payments are to be donated to your chosen cause.

No. 5 Virtual Garage Sale

It’s okay if you’re not a creative genius. If you have things you don’t need lying around at home, why not host a virtual garage sale? Turn those “trash” to cash! Not only will you be fundraising money for your chosen charity, but you get to clean your house as well. You can invite your family and friends to pitch in with their items and auction them off online via Facebook Live or a private Zoom call.

No. 4 Movie Night Virtual Party

Pandemic has stretched social media platforms to provide more experiences that users can enjoy. In 2020, Facebook introduced the Watch Together feature on their Messenger app. So even if your best friend lives in Nigeria, you can still watch your favorite shows together while you’re in Manila. You can do the same for more people if you want to raise funds for your project. Select a good movie that would make those movie-lovers donate to your advocacy. (We recommend a tear-jerker!)

No. 3 Social Media Influencer Pledge

Tapping bloggers, vloggers, and other social media influencers to advocate for your charity is a way to reach a bigger audience instantly. Their huge following is an opportunity for you to spread your message with one post on their profile. Finding the right influencer might be challenging. You need to find one who believes in your cause and would openly donate to it.

No. 2 e-Raffle for Big Wins

Raffle off big ticket items for a cause. Raffling is a mutually beneficial method for both fundraisers and supporters. People will donate more for more chances of winning that latest iPhone or that 40” television. It can be a fun experience while making money for your advocacy. All this while doing everything online.

No. 1. Online Crowdfunding

Crowdfunding is an online fundraising method to raise money for a cause. It is one of the easiest ways to get financial support. You will find lots of crowdfunding platforms available in the Philippines where people are willing to donate money to support your cause. One of the top choices is Airfunding.

Fundraising in Airfunding

More than 645,000 individuals and organizations have trusted Airfunding not only from the Philippines but also worldwide! It is an online crowdfunding platform designed to help different causes. You can fundraise for your business, medical needs, education, community, and more. Airfunding provides fundraisers the platform to achieve their financial goals by spreading their advocacy to supporters globally.

✔ Fundraise worldwide. Reach out to supporters beyond your family, peers, and the local community. Airfunding has more than 135,000 supporters globally. Someone somewhere will surely donate to your project.

✔ Diverse community. Airfunding provides an exclusive space to share your campaign. You can publish your story in the language you can express yourself. The site will translate it for you into 17 different languages. You don’t have to worry if the supporter is from Malaysia and does not speak English.

✔ Showcase with photos. On your project page, you can use texts or photos to better explain your campaign. Cham Narciso from the Philippines did just that. The details they have shared on their Airfunding project page helped supporters understand what the fundraiser is for and the donations’ impact on the community. One month was enough for them to raise $1,506 (₱84,802.86) that will be used to buy food for the poor.

Start raising money with Airfunding!

Starting an online fundraising campaign is an experience you will never forget. Now that you have the ideas we have shared, try crowdfunding in Airfunding today. With Airfunding’s tools and online community, you can easily spread the word about your campaign to receive donations. Create your project today!

Other Articles

1. How can I raise money: Best Crowdfunding site – Airfunding
2. Airfunding: How to receive my collected funds