Everyone at The Local Crowd lives and loves local. Since 2014, the founders have been making the case for using rewards-based crowdfunding as a community development tool. We continue to celebrate TLC Heroes who recognize that “Local businesses are the key to community prosperity,” as noted so perfectly by Michael Shuman.

This month we applaud Michael Shuman, our TLC Hero, for his continued work in researching and educating investors and community members on the strategies, tools, and impact of local investing (Learn More). In 2020, we asked Michael to prepare a white paper on the importance of rewards-based crowdfunding in the entrepreneurial ecosystem. The following is an excerpt from Michael’s paper:

TLC’s new Interesting Rewards™ program gives local champions a way to “invest” in their communities and receive products and services as a form of ROI. Here’s how it works. A local business launches a TLC crowdfunding campaign and offers as a reward a discounted price for a product or service that will be delivered over time. For example, a local organic meat producer needs $20,000 for a new refrigeration unit. One of the rewards offered is a year’s supply of sausage for $275. The regular price is $336. The purchaser of the reward receives $336 worth of meat for $275, thus the increase in value serves as “interest” on the original contribution. The delivery of the reward is scheduled over time—such as a monthly meat plan—rather than a one-time delivery. Both contributor and recipient of the funds benefit from this transaction, which encourages relationship building and trust while strengthening a local business. 

Kathleen is actively engaging on LinkedIn, where she shares insightful updates and reports on the crowdfunding industry. Her posts offer valuable analysis and commentary, shedding light on emerging trends and best practices in this dynamic field. This month she is celebrating the $1.2B raised by over 46,000 successful campaigns between 2013-2022 in California, making that state #1 in rewards-based crowdfunding in the U.S. Kathleen will be highlighting rewards stats for all 50 states plus DC and Puerto Rico in the coming year.

What do a seed project, an apple cider project, and a maple syrup project all have in common? They all work towards bringing healthy and accessible food to the whole community through the Abenaki Helping Abenaki (AHA) food pantry. It’s time to help them complete a community space that will house updated food processing equipment and provide a place to gather. This will allow expanded production, help bring community members together, and continue to work towards greater food security. Contribute today to support neighbors feeding neighbors!

Help build the local movement by supporting the Choose Indie Local campaign! Live now, and more than halfway to their goal (yay!), you can help them get to the finish line! Here’s an excerpt from their campaign description, "Led locally but aligned nationally, the American Independent Business Alliance's (AMIBA) Choose Indie Local program transcends the word "shop." We envision individuals engaging with this movement at all levels -- not just as shoppers but as investors, creators, owners, and Indie Local champions -- inspired by independent businesses' impact on community health and wealth. To meet our partners' needs better, we will develop an online platform to help them build more effective campaigns, access best practices, and connect with other national leaders. Ultimately, our platform would cultivate a community of practice to meet shared goals and build our movement collectively."

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