Accounting firms should be leading their clients who are looking for capital into the world of online funding campaigns, according to Xcentric vice president of marketing Roy Keely.
Donation-based modules like Indiegogo, Kickstarter and YouCaring.com are just a few fundraising Web sites that have quickly gained traction in the world of crowdfunding, and Keely believes firms should be paying close attention. "This is something I think CPAs should bring to their clients," he said during his "IT Trends & Their Relevance in Your Firm" workshop at the Thomson Reuters Synergy Users Conference.
Clients who may not have access to equity financing can easily launch an online fundraising campaign to get the capital they need. "All you need is [to have] a good write-up, offer rewards, and create a good video," advised Keely.
In October, the SEC stated that it would consider letting companies use crowdfunding sites to sell equity stakes (see
Online fundraising campaigns conducted by individuals and businesses can conceivably pull in donations in the millions of dollars.
Nonprofit organizations can also benefit. According to a 2013 study conducted by