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Etsy trials crowdfunding pilot program

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Etsy tests crowdfunding waters

Craft lovers and entrepreneurs, get excited! Etsy, the peer-to-peer e-commerce website, is running a crowdfunding pilot program.

It's a huge step for the platform, which focuses on handmade or vintage items, and if successful it may transform the dynamics of the site.

etsy crowdfunding

Selected sellers will have the opportunity to crowdfund for new projects until mid-August, allowing buyers to invest in their favourite e-commerce labels.

The labels currently trialling the platform are hoping to use the crowdsourced funds to expand their businesses, and one particular label has already exceeded its target by 732%. Etsy will review user feedback when the pilot ends on August 16, which will determine whether the feature is to be permanent.

Too much testosterone

Young male traders cause financial crises.

Well, that's what the Imperial College of London is saying. Research published in the Scientific Reports journal shows that high levels of cortisol and testosterone in young men lead to compounding risky decisions which, when translated to the trading world could be responsible for the ups and downs of the sharemarket.

Australia's Financial Planning Association says only around 20% of financial advisers here are female, indicating a big gender imbalance.

Bloomberg suggests that adding more women and older workers to the financial industry will reduce the effects of hormones on trading and in the long term lead to calmer markets.

Rent your car space

Parking spots in busy cities are in strong demand. If you live close to a big city and you're not interested in selling your car space, a new website allows you to rent it out during the week to make extra cash.

Divvy, a Aussie start-up, raised $2.5 million in venture funding in June, and is now up and running in Sydney, Melbourne and Adelaide.

While there are no membership, listing or booking fees, listers will eventually incur a service fee, deducted directly from their profits.

Rental charges are completely up to the lister, keeping in mind that the space must be leased for a minimum of three months.

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Steph Nash was a staff writer at Money until 2017.
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