EUROPEAN COMMISSION QUOTES WOOLWICH ONLINE ON CROWDFUNDING by Benson Agoha

The European Commission said Woolwich Online's question during the last TweetChat on Crowdfunding has been quoted among those of other participants.

The online Twitter event was organised by EC on the 28th of November, 2013 as it gets to grips with the current method of raising funds to finance projects by Small Medium Enterprises, with a view to providing necessary regulatory framework to guide operators and fund seekers.

The Chat enabled interested parties to ask questions on issues relating to crowfunding and listing answers provided by EC officials on their attempt to ensure the public interest is protected when investing their money through crowdfunding platforms.

At No. 24, Woolwich Online's question to EC hosts, @EU_Markt, was: "So Crowdfunding is not so fearfull afterall for small business hoping to raise funds through them. Should we worry?"

The EC's responses was that "Consultation results so far show people perceive high benefits in crowdfunding for small and medium enterprises in the EU."

"..but people also perceive some risks. The challenge is to create a supportive policy framework for these risks and benefits," they added.

Someone else (@EU_citizen_pz) asked the @EU_Markt "Is it right to say that crowdfunding process is based mainly on charity? Relation to common fund-rasing process?"

The Hosts replied "..Charity and donations seem to be a big part of it. But rewards, and investments / lending are also important."

<>-----------------------------------------<>

Submit your news, views and photos to Woolwich Online, including your name, address and telephone number to: onlinewoolwich@yahoo.co.uk; Mobile: +44(0)744 228 9202.

<>-----------------------------------------<>

To see the full chat on the Storify platform, please go here >>> [.] EC-CHAT-ON-CROWDFUNDING.