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Post by unicambridge on Apr 7, 2015 20:51:23 GMT
Hi everyone, We are a group of students at Cambridge University and we are doing a university project around crowd-funding (lending). In particular, we are interested to hear peoples feedback around an idea about crowd-lending to businesses that are "local" to where you live and to capture peoples habits, views or opinions about crowdfunding. Our survey is very quick to complete - any input into this would be greatly appreciated as it helps a lot with our research and concept validation. jbs.qualtrics.com/jfe/form/SV_2aGJMrqEC642eWhThank you! |
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Post by batchoy on Apr 7, 2015 21:06:17 GMT
Hi everyone, We are a group of students at Cambridge University and we are doing a university project around crowd-funding (lending). In particular, we are interested to hear peoples feedback around an idea about crowd-lending to businesses that are "local" to where you live and to capture peoples habits, views or opinions about crowdfunding. Our survey is very quick to complete - any input into this would be greatly appreciated as it helps a lot with our research and concept validation. jbs.qualtrics.com/jfe/form/SV_2aGJMrqEC642eWhThank you! I have had a look at the survey and it is highly flawed, and belies a lack of understanding of crowdfunding. Many of the questions with a choice of yes/no answers cannot be answered with a simple yes or no. For example 'If those businesses, or other local businesses, were raising funds, would you loan them money for interest?' to which the answer is neither yes or no but possibly or not necessarily as it would depend on the fundamentals behind the loan. Similarly there is no one interest rate that can be selected in answer to "At what interest rate would you like to loan to help finance a business?" again it depends on the fundamentals behind the loan, the level of risk involved and any security on offer with the result that the rate could be anywhere between 6% for a low risk secured loan and over 20% for a high risk unsecured loan. Similarly the amount lent would depend on the fundamentals behind the loan, the level of risk involved and any security on offer so could range from under £200 to well over £5000. As a result the survey will not capture the information being sort, particularly peoples lending habits.
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Post by unicambridge on Apr 7, 2015 21:37:10 GMT
Hi batchoy,
Thank you for your response!
We are aware of the imperfections of relying of surveys in general and the survey questions are designed to capture general risk/reward preferences in the absence of complete information about each lending case.
Any feedback is useful feedback, thank you!
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Post by oldnick on Apr 8, 2015 6:33:28 GMT
You say you are doing a university project around crowd funding and are gathering information.
Is Localvest a company you've set up or just the name of your project?
If Localvest is a company, who owns it?
Who has access to the personal information you may gather, like email addresses and income levels?
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Post by unicambridge on Apr 8, 2015 7:24:59 GMT
Hi Moderator,
Its not an incorporated company - there is no webpage or companies house registration if you tried to look us up already,
This idea is the result of a student competition at Cambridge, and we call the idea Localvest (local - invest) for now. We hope the idea appeals to the crowdfunding community and we are trying to validate this.
The survey contains no personally identifiable information, its completely anonymyous. The last question is optional and allows the respondee to leave their email address if they so wish. There is not a hidden marketing plan behimd this, rest assured.
I did read the posting guidelines before, if there is any issue just let me know. We hope for everyones participation in this short survey, thank you!
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blender
Member of DD Central
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Post by blender on Apr 8, 2015 7:28:13 GMT
Might be an idea to confirm the project as belonging to the uni? Where is the supervision? Is the use of the banner approved?
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Post by davee39 on Apr 8, 2015 7:45:37 GMT
Assuming this is a theoretical project exploring whether local people would lend to local business you are failing to capture some vital information, and you could get some distorted answers by addressing a particularly self selected population.
And why is there a gender question. Time to stop perpetuating ideas relating to differences in male and female thinking!
1) Would I lend to local business? NO. Why? because my locality is a job starved area of the north east where local businesses have the survival chances of a snowflake in a furnace. Very different answer if I lived in a leafy outer London suburb.
2) Are you picking up the differences between risk averse and adventurous investors. Those who dash in to every 12% offer, and those who like to wait 5 years to see how things go.
3) Assuming your platform is theoretical (Because if it is real you really have no chance) then give it some life, how is it financed, who is behind it etc. Most investors here like to know who they are dealing with before committing to invest.
You get an E- for the form so far. The questions and categories appear to have been copied from other sources (government documents?) and are largely irrelevant. Are you really going to conclude that someone in the military is more likely to invest in local business than someone unemployed looking for work. Have you thought about how many replies you might get and the statistical significance of the pointless granularity you have introduced.
Tear it up, stop copying and start thinking. Then come back to us for advice.
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Post by oldnick on Apr 8, 2015 10:58:09 GMT
Don't take our responses to heart, we are always willing to share knowledge of p2p, that's why the forum exists. If you read the conversations on the forum you'll pick up a range of attitudes from people who are interested in this kind of finance (but almost never their age, profession or wealth).
Though, if it's good statistics you want, bear in mind that the people who actively contribute to this forum are the 'tip of the iceberg' - we have no idea what the silent majority, who register, but don't speak, think!
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Post by elljay on Apr 8, 2015 18:11:25 GMT
Hope your day got better. 
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Mike
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Post by Mike on Apr 9, 2015 5:37:43 GMT
And why is there a gender question. I also am desperate to complete this questionnaire, but I am a gender-undefined [did you mean 'sex'? In which case I am genetically and unambiguously male] 25 year-old (neither under 25 nor 26-35). I also work for salary in the military so in the end I just thought random answers would help you more than trying to guess what you want me to do. I wondered, while trying to read, what a 'mom-and-pop' is (new p2p site?) - I also enjoy Reading capItalIsation That apPears to Be a liTtlE rand0m so thanks for that. I completely agree with the following sentiment , meanwhile my day was going just fine until I clicked the link asking me to volunteer my time and part of my personal financial practises in exchange for an afternoon full of rage and offence in response to seeing this university questionnaire.
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am
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Post by am on Apr 9, 2015 8:50:33 GMT
I thought "mom and pop" was an Americanism. A (expansive) definition is given <a href="http://www.investopedia.com/terms/m/momandpop.asp">here</a>; I had thought of it as the equivalent as to what I would have called a "corner shop" when younger.
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Post by gaspilot on Apr 9, 2015 10:58:36 GMT
I must admit to being a little disheartened to see such a poorly produced questionnaire.
And to think that it originated from students of one of our most prestigious universities!
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Post by oldnick on Apr 9, 2015 11:40:08 GMT
Yes, but at least state school pupils can get there now - it's government statistics that matter most, not the quality of elitist education.
Do try to be more 'on message' please.
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Post by easteregg on Apr 9, 2015 11:55:40 GMT
I must admit to being a little disheartened to see such a poorly produced questionnaire. And to think that it originated from students of one of our most prestigious universities! I do have to agree with your comments. A lot of the questions need clarification. For example I wouldn't lend to a business even at 20% return if they are a poor credit risk without security! If the university would like help drafting a questionnaire then the best people to help are here on the forum.
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Grezza
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Post by Grezza on Apr 9, 2015 14:15:36 GMT
I must admit to being a little disheartened to see such a poorly produced questionnaire. And to think that it originated from students of one of our most prestigious universities! I have to agree with gaspilot, and the points of view expressed so far on this thread. I would have been disappointed if told this questionnaire had been produced by sixth form students. A (hypothetical) crowd lending platform to enable businesses raise funds by offering local lenders loyalty rewards, product discounts.......or have I misunderstood? I live ooop North, and here wages are well below the national average, house prices below 2007 values and falling, unemployment 10% v 6% national average, and the local high street listed as one of the 10 worst in the UK. Investing locally is not an appetising option, not even for a free coffee. Btw, as it is that time of the year, does anyone know what the tax position would be re my free coffee/loyalty rewards?
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