The importance of Verification: Inspiring Community Confidence
This magical procedure is something that all Spacehive projects go through but many backers are unaware of… And, although a magician never reveals his tricks, we can’t help but let you in on this one!
So, what is verification?
Before a project can start crowdfunding it is checked by Locality, the national network of community organisations. This involves inspecting the idea, land permissions, and project costs to make sure the project is viable and trustworthy. The verification duration varies depending on the project’s nature – but most will take between three and five days.
This external verification process puts Spacehive apart from the other crowdfunding sites as it’s the only site to do it. It’s an impartial, objective procedure that ensures all projects are assessed according to equal terms.
Where’s the magic in that?
There are many positive effects of this process. For one thing it seems to be the key to attracting the larger pledges for your project, from councils, local business, and corporates because they have the assurance that their money is going to a responsible project creator.
But it’s not just the bigger pledges that verification helps trigger. It also gives project owners a confidence boost. Locality give them the assurance that their idea is possible and their plan is accurate. If the project creator has any questions they receive guidance from Locality’s members who are the leading experts in community enterprise and social finance. Coupled with Spacehive’s personalised crowdfunding support it leads to some fantastic campaigns that are changing the face of the UK’s local streets, parks, and other community spaces.
Locality’s verification is a simple exercise, but it makes a whole world of difference, unlocking the potential for huge support for your ideas, from your local community and beyond. Find out more by visiting https://www.spacehive.com/Locality
Having spent a number of years in the Music industry, Hamish moved into the Tech space to work for a company specialising in financial education for children. He joins Spacehive with experience in community management and will be working to ensure that Spacehive offers the best User Support it can.