How does funding help the project?
Funding currently covers most of our hosting costs which involves hosting:
- Better (the site and blocking rules)
- This forum
- The Ind.ie site
If we received more funding, and it covered more than our hosting costs, it would allow us to reduce our speaking engagements (which usually accounts for more than half of our income) in order to focus more on development.
When funding your project are you allotting shares or do you wish to retain full control? Also, are you open to share trading deals with interested parties.
Our current business structure deliberately does not allow for shares (we have a UK company limited-by-guarantee) with the idea that we cannot have anyone have more control than us. However, we’ve found that this is really no guarantee (people with this business structure can find ways to sell out if they want to) and it has really stung us on paying a lot of tax on our low incomes. (Happy to pay tax, not so happy that we pay such a high percentage of our income as tax compared to big corps who pay nothing!)
We’re in the process of moving our organisation to Ireland, and finding a company structure that reflects our not-for-profit no-shares motives. We won’t be making big money on what we do here, we just want to make enough to live comfortably and create a healthy ecosystem around ethical technology.
I have a UK limited company and was required to specify number of shares. The amount was provisionally capped at £1,000,000 in £100 increments.
I wish you success with the move and finding the right company structure for your purposes! Will miss you here, though.
Once Laura and any co. have a new product that people like I would very much doubt any funding issues.