When you work with businesses to harness the power of the crowd you swiftly learn to appreciate how much more can be gained by working together; sharing best practices and acting together as a force for good. It is that philosophy which led to the UK Crowdfunding Association () being formed in 2012, since when the original fourteen members have been joined by further members, associates and supporters, all seeking to further the power of crowdfunding to make a difference.
The UKCFA is not only there to promote the voice of crowdfunding, members also have to adhere to a code of practice which aims to protect crowdfunding businesses and donors/investors. The code includes measures for the segregation of donations, transparency and the security of information. As a member of UKCFA, Crowdfunder adheres to these best practices which can be found in full on the Association website.
At its AGM on 10th June 2014, UKCFA members agreed a set of priorities for the year ahead. These include:
• Promoting awareness of crowdfunding through education, publicity and the sharing of research
• Work on the tax implications of crowdfunding including ISA qualification and gift aid
• Working to create a level playing field including removing barriers and banking access
Crowdfunder looks forward to playing its part in the pursuit of these aims. As the UKCFA website says, crowdfunding may be ‘democratic finance,’ providing an alternative to traditional forms of finance but “it isn’t all about the money – crowdfunding is also about building and benefiting community.