Uganda like most developing nations in Africa has a big youthful population, who are energetic and eager to work. However, employment opportunities are hard to come by, the next alternative route for making a living would be to venture into entrepreneurship, but lack of capital remains the biggest impediment. And that is exactly what GoBigHub want to solve, through crowdfunding.
GoBigHub makes it possible for entrepreneurs to get financing without collateral though based on a profit share arrangement. The funders who power the crowdfunding platform are investors looking for above-market returns that average 5% per month.
Businesses that secure funding are those that have secured contracts but lack the required fund to fulfill their obligations. Such businesses would register on the site (also accessible via a mobile app) and share details of their contract.
Once the legitimacy of the contract has been established, it is then availed to the public on the GoBigHub platform where investors can then review and should they decide to invest, they will get a flat rate return on their investment.
GoBigHub task is to ensure that the contract is well executed through supervision and …read more