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What is the Best Time of Year for Crowdfunding?

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    What is the Best Time of Year for Crowdfunding?

    In today’s age, the idea of ‘giving’ and ‘contributing’ is not just limited to donations given to religious institutions or helping people in dire situations. Today, people don’t wait for a time or a place, a cause, or a request to come to us to help someone. 

    As a community people are more proactive than ever.. We consciously go online, look for individuals or organisations working to make the world a better place, and try our best to be part of this change. Realistically, we know that alone one cannot bring about a monumental change. We need people to support our cause/mission. 

    Today, many compassionate souls rely on crowdfunding platforms like Ketto to help others in need and contribute to the causes that they hold dear. 

    What is crowdfunding?

    Crowdfunding allows multiple people to come together to support a cause by contributing small monetary amounts. Whether it is donating towards a girl child’s education or building schools in a remote village, all donations come together to bring about a positive change. In simple words, crowdfunding allows you to start your own campaign and request donations from like-minded people. 

    Starting a crowdfunding campaign is easy. You can request any crowdfunding platform of your choice to host your campaign, write a compelling narrative about it, and let visitors on the platform donate. One of the most popular crowdfunding platforms in India is Ketto. It has hosted hundreds of successful campaigns. 

    While social problems are present throughout the year, is there a particular time when crowdfunding works the best? Let’s see

    Daan Utsav week

    Also known as the ‘Joy of Giving Week,’ the week encourages millions of Indians to donate during the week spanning 2-8th October every year. The Daan Utsav was initiated to help realise Mahatma Gandhi’s vision of a compassionate India. This week is internationally known for the amount of funds it is able to raise within the short span of seven days. 

    Whether it is about donating part of your October salary to migrant workers or donating to stop sex-trafficking, people are encouraged to support some cause. So, you can start a crowdfunding campaign around this week as the potential donors are more aware of the significance of donating and are seeing everyone else do the same.

    Knowing that the International Day of the Girl Child falls on October 11 every year, organisations working for girls’ education, women empowerment, anti-trafficking, prevention of child labour, and gender equality, can leverage the conversation surrounding their cause. Since people are already reading and talking about the need to support the girl child, they will be more inclined to donate. 

    Similarly, those seeking crowdfunding donations to support individuals with special needs can start a World Autism Awareness Day campaign on April 2. Find out the most important days related to your cause, and design a crowdfunding campaign around then.

    Festive season

    Diwali, Christmas, Eid, Navroze, Baisakhi are some of the popular festive seasons of the year. This is the time we express gratitude, remember our privilege, and have a profound sense of community. Even if we don’t make substantial donations, most of us do what we can for a cause that we believe in. It is a good idea to start your crowdfunding campaign around the festive season and maybe include a special appeal to those who celebrate that particular festival.

    Near the end of the financial year

    Most of us do some form of charity throughout the year. However, the last few weeks of the financial year brings this giving aspect into more focus. The Indian tax laws provide certain tax benefits on the amount donated to organisations holding an 80G certification. For example, if an NGO with an 80G certificate starts a crowdfunding campaign to raise funds for mental health, donations to such NGO will be eligible for tax benefits. 

    The last quarter of the financial year is one of the best times to start a crowdfunding campaign as you can appeal to potential donors by talking about your 80G certification. When they donate, they get a donation as well as an 80G receipt. They can include this receipt while showing their income, and appropriate deductions from gross income can be made based on that.

    Ultimately, we need to remember that most of the time, there is no time like the present to start raising money for a good cause. What matters is the effort and thought we put into getting what needs to get done.

    Raising money for a good cause can be done at any time and from anywhere. It just needs sincere efforts and thoughts to get the desired funds.

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