What is ‘BizKit-Tin’ and How does it work?
SUMMARY; In short ‘BizKit-Tin’ is an internet ‘Biscuit Tin’ into which we can all chip in small amounts of funds, and come together to help creative talent around the world get their Projects off the ground!
Thee are two key ways you can support a project directly;
- Make a Donation directly to a specific project
- Pre-Order their Products – Often at a discounted price
You can also make donations into our ‘Core BizKit-Tin Fund’, from which we can also assist promising projects to reach their targets.
Successful Projects then pay back an ongoing Royalty to the Core Fund to replenish it for others to use in the future! Essentially all donations are being recycled into more and more Projects over time.
When you pre-order you often get a discount, which could equal the amount of equity that would otherwise have gone to an Investor You essentially get that discounted price in exchange for simply waiting the Campaigner to reach their target!
When a Campaigne has sold enough Units to cover their Tooling and Production Costs they can then start production. This method of fund-raising also provides a means of Test-Marketing new Products before they commit to Tooling up for Full Scale Production.
Thee is no time limit on a Campaign reaching its target! – There are many factors involved in fund-raising, not least of which is promotional capability, so imposing deadlines is considered unfair. In the event a Buyer wishes to cancel, they can get a refund.
HOW TO MAKE A DONATION?
You can use PayPal via the Cart on any project needing support.
You can also use ‘Barclays PingIt’ via the code; PINGITWCB238 which carries no administration fees at all, this will credit your donations directly into BizKit-Tin’s central fund.
BizKit-Tin has been set up by 4octopus.com and will be administered by a professional accountancy firm and takes a max of 5% from all raised funds to cover administration costs;
Joy, Lane & Co of 4 South Terrace, South Street, Dorchester, Dorset, DT1 1DE.
Any donations made are very gratefully accepted and we at 4octopus.com thank you all on behalf of all our applicants for your kind support.