May 21, 2015 at 7:56 am #158640
I almost know the answer before asked :))
Couldn’t find the Greek translation for crowdfunding, just wondered if there is anything like this going on in Greece? Ofcourse before this corwdfunding was discovered the Greeks already did their ‘family funding’
May 21, 2015 at 9:55 am #194498
Crowdfunding is the practice of funding a project or venture by raising monetary contributions from a large number of people, typically via the internet. One financial expert describes it as “large groups of people combining their economic power to support an organization, company or project they believe in.
The problem as I see it is summed up in the last six words……..
Anyone want to buy a port heavily controlled the the unions and bureaucrats?
May 21, 2015 at 10:23 am #194499
I know there are quite a few ways of interpretting ‘crowdfunding’.
The ones I was looking at in NL is that banks will not/cannot give credit or ask much too much for the loan.
Due to crowdfunding companies collect quite sums of money (sometimes within hours) for a much lower rent than the banks would.
Ofcourse this is ‘high risk’ but many people are willing to take the risk as the banks hardly give any rent on savings.
Petros needs new chairs for his kafenion and needs a loan: family and friends are first asked then there is the choice of going to the bank or a crowdfunding platform.
I know one can also go to the casino and risk their savings there, but then there is also the chance of winning :nod:
May 21, 2015 at 8:36 pm #194500
I think it’s a great idea but Greeks would not easily take to the idea because past history of rorts have made them understandably suspicious. It’s like house swapping, great idea but most Greeks look at you in horror when it’s suggested. Maybe the newer generation who have lived out of Greece will bring it in.
My daughters friend used crowd funding when their bubba got Leukaemia and they had to go to the South Island for treatment. It was a tremendous help.
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