A Scottish businesswoman is seeking to raise 21 billion pounds over the next three years via crowd funding in order to help support thousands of start ups in the field of social entrepreneurship.
Crowd funding is a type of collective co-operation by people who pool their money via the Internet to support initiatives from disaster relief to art projects and political campaigns. The idea is the brainchild of Amanda Boyle, who is an accomplished businesswoman, but not a venture capitalist. She seeks to establish an alternative lending environment in which Scottish businesses can flourish in a post-recession economy.
According to Boyle, business lending is being stifled by the recession and a cautious, risk-averse lending climate. She wants to enable ordinary people with good ideas to raise the money they need to start and grow their own businesses, community or social enterprises, and then offer support and mentoring as they grow.
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