Skip to main content

Key things to know about funding

Key words i need to know - 



Crowdfunding - 
The definition of Crowdfunding is the practice of funding a project or venture by raising money from a large number of people who each contribute a relatively small amount, typically via the Internet. An example of a crowdfunding website is https://www.crowdfunding.com which shows us the companies that do crowdfunding that can be searched and gone into with more detail this website also allows us to see how many people they have donating and participating with certain companies. Crowdfunding today is quite popular today as it is allowing entrepreneurs to access a modern approach to  the market that is out there. The websites that are very popular are Indiegogo and Kickstarter. 

A National Lottery grant
National Lottery Awards is a quick and easy way to get Lottery grants of between £500 and £10,000. It aims to help people become actively involved in projects that benefit their local community. This is a general programme for all types of heritage projects across the UK. An example of a National Lottery grant is Life Venture Solutions Ltd, in Cardiff, got a grant for an amount of £4,395 to hold a fashion show inspired by Black and Asian culture with the aim of giving communities the opportunity to celebrate their culture and heritage, and bring people together.

Why might giving a newspaper or a magazine make commercial sense? - Giving a newspaper or a magazine away would make more commercial sense because in the long run getting more reader mean more people will want to pay the newspapers or magazines to advertise in them which means they are giving copied away to in the future gain more money from advertisers which makes a lot more commercial sense. After all they are a business and they are there to stay and make money and give out information to everyone. For example the Metro gives away 1.344,959 copied a day whereas the Guardian sells 4,000 copies a day which already mean they have got more of their newspapers out their which means they are being read by more people per day which gets them more advertisers who are willing to pay a lot of money for their product to be seen. 

What does the BBC have to do?
The BBC has to be independent from the government. The BBC have to take editorial independence and it is clear that public obligations in deal this has been set in stone for ten years. The BBC is only allowed money of the government under the impression that they are going to cater for people who are interested in different things and want to watch different types of programs. 

Comments