Care O Bar
Funding businesses in an economic climate can be challenging. Many people have the skills and experience to run their own business but are unable to do so because of inadequate resources.
Care O Bar is an initiative by Baitussalam Welfare Trust, that will give willing investors/ capital contributors to connect with aspiring entrepreneurs and fund their businesses.
How does it work?
Care O Bar is a crowdfunding website that lets aspiring entrepreneurs crowdfund their startups and pursue the dream of running their own business
The entrepreneurs make profiles and pledge their “big ideas” on Care O Bar.
Potential investors can view and assess if they want to help visionary founders kick-start their ventures.
After potential investors have analyzed the pledge, they can transfer their donation to Care O Bar, that will co-fund promising startups. Care-O-Bar’s interest-free microfinancing process will prioritize that donated funds go to the right place. Tens, hundreds or thousands of individual investors can co-fund a single business. The profile on Care O Bar will display all the people who require funding, and percentage of the funds/donations received by a particular business
How will it be different from other donation methods
TThe crowdfunding strategy will differ from the traditional charity modes like giving hard cash, food or clothes or relief work that finishes over a short period. This business-promoting method will be productive and the receiver can work and earn for as long as they are alive. We transfer the donations, Zakat or Saddkah, free of interest to the beneficiaries. We will update the donors on the business development and growth through Care O Bar.
After early to-growth stages of the company formation, the recoveries made in easy installments will revolve to re-fund other pledges on Care O Bar.
If it is a charity, the recovered installments will be collected in the revolving fund to raise more entrepreneurs.
If it is a loan the donor will be informed about the money once it has been recovered but it will still be kept in the organization’s fund. It will be donated to more people as per their choice.
Care o bar’s main features include:
- A strong website.
- A strong media team that will document all business developments of ensuring all donors keep track of their donations. (potential investors keep track of their funds)
- A set of volunteers
- Cashless transactions
- Transparency and open communication between donors and investors in real-time on Care O Bar increases trust
International and domestic partners can collaborate with Care O Bar and support micro-entrepreneurs in business developments in the following ways
Generous donations or grants from organizations can really help the pace with which we want to achieve our goals. This also enables micro-finance solutions on a larger scale
Partners can choose to fund entire projects. The donors are updated on all stages of the company development and informed also when the company is operational.
Donors can also support micro-entrepreneurs through stocks/inventory. Merchandise donated helps businesses flourish and maximize their potential.
Hospitals can partner with us and issue health cards to all our beneficiaries, through which they and their dependents will be able to access quality healthcare services like regular checkups, diagnostic tests, free medication and treatment for health issues