"Say if a local bar wanted to crowd fund
panels for roof," said van Haaren.
The FSA stated : 'There is no guarantee investors will receive a return on funds contributed to a crowd fund. In fact, investors could lose all of their money, as the majority of start-up businesses fail.
In the FSA's information for consumers the authority said investors who incur a loss by investing in crowd funds would not have access to the Financial Ombudsman Service (FOS) or the Financial Services Compensation Scheme (FSCS) as 'almost all' crowd funds are unauthorised.
Amsterdam-based Kurdish filmmaker and writer Beri Shalmashi has successfully crowd funded
her short film, 'Shouted From the Rooftops,' a tragic love story about a couple divided by war.
If we take the statistics - average crowd funds
raised in the UK have increased by 47% in the first half of 2015 and the UK is the centre of crowd funding globally.
Naked Wines, founded in 2008, runs a crowd funded
business where around 300,000 subscribers help fund over 130 independent winemakers in 14 countries in exchange for access to exclusive wines at preferential prices.
Films with successful crowd funded
projects range from very small, raising hundreds of dollars to larger ones, raising hundreds of thousands of dollars.
Myton Park Primary School in Ingleby Barwick successfully "crowd funded
" PS70 to buy five fruit trees.
* Shekra combines multiple aspects of the entrepreneurial ecosystem including reaching out to startups, business plan support, mentorship, milestone financing, and monitoring to increase the success rate and sustainability of crowd funded initiatives.
We are excited about the pool of potential startups to be crowd funded across target markets.