There's a new a crowd-funding initiative for entrepreneurs that allows funders to earn from their investment.
The People's Fund is a springboard for young and innovative businesses that sees donors investing assets into budding black-owned companies.
The People's Fund is a collaboration for entrepreneurs that was created by empowerment platforms The Hook Dinner, BrownSense and PayBook SA.
The idea is to use the buying power of the masses to help grow small businesses and the economy, explains Luyanda Jafta.
As entrepreneurs we are primarily activists first.— Luyanda Jafta, founder & CEO at PayBook SA
Jafta says The People's Fund aims to eradicate youth unemployment by encouraging entrepreneurship.
He explains how the asset crowd-funding model works:
Enablers buy an asset for a business, thereafter the business gives enablers royalties after extracting value from the asset, he explains.
We're not offering shares in a company; you're buying an asset that you actually own.— Luyanda Jafta, founder & CEO at PayBook SA
We don't call them investors, we call them enablers.— Luyanda Jafta, founder & CEO at PayBook SA
Take a listen to the inspiring initiative: