Katie: Hi Jason. So what's the house like? I hope it's as good as the advert made out.
Jason: It's OK. I think I've finally found something we'll both like at last.
Katie: Brilliant! So what's it like?
Jason: Well, it's within walking distance of uni, it's in a residential area, there aren't many students living there, but it's easy to get onto campus, and the city centre is only a bus ride away.
Katie: OK, that's a good start. But what's it like inside? To be honest, when I saw the advert I didn't think it would be big enough for the three of us. The rent's not exactly cheap for the area. So come on ... Is it worth it?
Jason: Well, it's got three bedrooms and a nice living room, so we'll all have our own space to work and somewhere to sit together. It's clean and there's no need to decorate. I'm sure your mum and dad would be happy with it, if that's anything to go by.
Katie: OK. That sounds promising.
Jason: And the landlady was really nice. She's not one of those people with a lot of properties. In fact, this is the only one she has, so she really looks after it. Her daughter was a student and stayed there last year, apparently.
Katie: Good. The advert said there's no garage but I can park on the road outside. I checked and there are no parking restrictions along that road. I know there are some shops in the neighbourhood, so we'll be OK for food and basic things.
Jason: Yes, that's right. It's a nice house. And the kitchen's fine. I suppose it's not exactly modern but it's clean and functional - all the things you need: washing machine, cooker ... There's no garden, which is a shame, so nowhere to sit in the summer. But there's Wi-Fi, so all in all I'm happy with it.
Katie: Right, then. I think we've cracked it. I'd like to see it myself before we sign anything. I might pop along later to have a look. It's on Foxwell Road, isn't it? Let me just make a note of the address. That's F-O-X-W-E-L-L Road, is that right?
Jason: Yes, that's right, number 94. I'll come along with you for another look. So, you know what the rent is, don't you? £430 a month. I know that's £50 a month more than we were expecting to pay but I think it's worth it.
Katie: Mm, it sounds reasonable, especially if it's in a nice area. And we need to pay a deposit as well, don't we? According to the ad, that's one month rent in advance.
Jason: Yes, that's right. That's normal when you rent, so I was expecting it. You'd better give the landlady a ring if we want to have look round. Why not give her a call and see if she's free later?
Katie: OK, good idea. What's her number?
Jason: It's a mobile number: 01764 445328.
Katie: Right, I'll phone her now. Hopefully, she'll be free and we can go over there this evening.
Presenter: Today we're continuing our travellers' tales. On the line we have Amanda Toddington, who had quite a nasty experience in Australia last year. Isn't that right, Amanda?
Amanda: Yes. My husband and I were on holiday and we were staying at a friend's house on the coast near Brisbane. It was towards the end of the holiday and I was about to go into the garden and enjoy my breakfast. I walked out into the kitchen, slid my left foot into my shoe and felt a tiny sting. It was pretty painless but I shook the shoe off my foot and saw this tiny spider running out as the shoe hit the wall. Anyway, not being an expert, I presumed the worst, that I'd been bitten by something that was going to kill me and I completely lost control. I don't think I've ever screamed so much in all my life. We'd been told beforehand to always check our shoes before putting them on as it's a common way to get bitten, so I suppose it was my own fault, really.
Presenter: So, what was it that had bitten you?
Amanda: Tony - that's our Australian friend - he immediately asked me if I knew what had bitten me, and I pointed to the corner of the room where I'd last seen the spider. He picked up a jar and found the creature in the corner, where the shoe had hit the floor. 'It's a redback,' he said, and he gently placed the jar over the spider. The funny thing was we'd been talking about some of the creatures we needed to be careful of a few days previously, and as he said the name 'redback', the conversation came flooding back to me ... In particular, the fact that the bite can be extremely painful. I've found out since that the redback is from the same family as the black widow spider, and it's the female that does the damage - which it turned out was what I'd been bitten by.
Presenter: You must have been absolutely petrified.
Amanda: You can say that again! I remember feeling quite confused. I wasn't in a great deal of pain to begin with, and yet I could see from our friends' faces that they were concerned. Tony explained that the venom, or poison, of the bite spreads quite slowly, so the pain doesn't feel too bad at first. Gwen - Tony's wife - brought an ice pack and Tony held it against the bite to make it less painful. Apparently, you're not supposed to put a bandage on the area as this can make it hurt even more. Tony tried to put my mind at rest by explaining that this was quite a common bite, that the hospital would have an anti-venom and that everything would be OK. But I was beginning to panic. We were flying back to the UK the next day and I really didn't know what to do.
Presenter: So what did you do?
Amanda: Well, Tony phoned the doctor, who told him to check my symptoms for the next hour or two. As time went on, the pain became very intense, from my foot right up to my knee. My husband was on the internet and was reading out the possible symptoms. I wasn't feeling sick and I hadn't yet developed a fever but I had a terrible headache and my foot was beginning to swell up. At this point, Tony decided to take me to the local hospital to be on the safe side. I really didn't want to go as I had visions of being kept in for days and all our plans being spoilt. But Tony and my husband insisted. When we got to the hospital, I was relieved to see how casual everyone was when Tony explained I'd been bitten by a redback spider. They told me to take a seat and got on with their work.
Presenter: And did you receive any treatment?
Amanda: By the time I got to see a doctor, the pain was very intense indeed and I was getting quite upset. The doctor decided to give me a dose of an anti-venom, which he assured me would eventually deal with the problem. Unfortunately, he also explained that it wouldn't have an immediate effect and the symptoms might last for several days. But the story has a happy ending. My husband managed to book us onto another plane one week later. And even better news was that the symptoms of the bite finally cleared up after about 24 hours. Within a couple of days, I was back to normal again. So thanks to the spider, we managed to extend our holiday by a week.
Tutor: Anyway, as this is our first session, I'd just like to find out how you're settling in, how your Spanish course is going - basically, anything you feel you need to talk about.
Kevin: I'm OK, I suppose. I'm settling into my studies and I'm finding the course interesting. I've got a free day on Wednesday, which is good, and lectures and tutorials on the other four days. Yeah, I'm getting into the swing of things. I'm just missing home a little, that's all.
Tutor: OK. Well, if it makes you feel any better, I reckon half the students I speak with are a little homesick. It's only natural. Is this the first time you've lived away from home?
Kevin: Yes. I was thinking just this morning that I've never spent so long away from my friends and family before. I've been back home on one occasion since I started in September, but it's so expensive to get down to London by train that I can can't go very often.
Tutor: Well, don't be too hard on yourself, Kevin. It's quite a lot to deal with at first, isn't it? Moving to a new city, being responsible for everything for the first time ever, shopping, cooking, etc. Then making new friends, and then there's your studies, of course, and getting organised. Are you living on campus or in town?
Kevin: On campus, in halls of residence. It's not as cheap as renting a room in a house but I thought it would be a good way of meeting new students. We're all in and out of the kitchen during the day, so it's not difficult to socialise. Like you say, I'm just a bit homesick.
Tutor: I'm sure that you'll find things get better over the next few weeks. Everything's new for you at the moment and a little overwhelming. But you'll get into a routine and start to feel more settled. What about Freshers' Week? Did you sign up for anything?
Kevin: Yes. I've joined a couple of groups. There's the Film Society, and a tutor recommended the Spanish Society, so I've signed up for that too. I've volunteered to help out on their International Food Day - making snacks, that kind of thing. And I'm looking forward to getting to know other members.
Tutor: You said earlier you were finding your studies OK, so that's good as well. The main thing to remember is to try to be as organised as possible. You have so much more freedom to make your own decisions here, so it's important to structure your time to factor in time for studies. If you're on top of your work, you'll feel much more able to enjoy your free time.
Kevin: Um, I was hoping you could help me with my essay writing. I seem to be spending ages writing and re-writing essays and, well, ...
Tutor: The best bet is for you to sign up to the university Writing Tutorial Service. They have people who are in place to support students specifically with these problems. To join, just fill in the application form and give them a sample of your work.
Kevin: Brilliant! I didn't know anything about that. Can I give them one of my essays to look at?
Tutor: They won't give you feedback on a complete essay, I'm afraid, as they may not be subject experts. It's really aimed at developing your academic writing skills. Ideally, you should write something between 1,000 to 1,500 words. If you find their page on the university website, they've got a list of general topics you can try.
Kevin: So do I just turn up? Or do I need to make an appointment? I've got an essay deadline coming up soon, so I'd like to get help as soon as possible.
Tutor: You'll need to arrange an appointment. The first step is to sign up for the service. Download the application form and essay title from the webpage. Don't forget to state when you're available for tutorials on the form. Email the essay and form to the team and they'll get back to you with an appointment time. It usually takes about one week from when they first receive your essay to arrange an appointment. You're usually given one tutorial a term but they may offer you further sessions if they think you need them.
Kevin: OK, I'll do that. Thanks for your help.
Lecturer: Good morning, everyone. Today we're continuing our look at funding opportunities for small start-up businesses. The emergence of social media has given companies the ability to connect with fans and potential customers directly. On the back of the growth in social media, a model of raising finance has emerged known as crowdfunding. This revolutionary way of raising finance began with micro-lending in the nineties. More recently an equity-based model has emerged that allows people to invest directly in a new company. We're going to examine this in more detail later, but let's turn first to a third model, which I'll term a fan-based model.
With this model of crowdfunding, individuals are encouraged to give an amount of money to support the launch of a project or initiative without the promise of any financial return. Instead, there's a reward for donating. This contrasts with the micro-lending model, which would require a return on investment, and the equity-based scheme, which may offer shares. Crowdfunding portals or websites allow the business concerned to present the initiative along with the financial target required. There's a fixed time limit for fundraising and if the target amount is reached, all donations are paid to the company or individual. Whether it's an author planning to write a new book, an independent film company looking to make a new film, or a technology company with an idea for an app, the person or company needing funding would turn to its fan base for support. This is managed through one of the many crowdfunding online portals that have emerged.
Of course, a fan or supporter of a particular initiative is likely to give money anyway. But donation-based crowdfunding will often make donating even more attractive by offering a rewards-based incentive scheme. Let's take a film company, for example, that needs funding for a new film. For a small set donation, the donor might be offered a free ticket to the premiere or a DVD of the film. A larger set donation might be rewarded by the chance to attend a launch event when the film goes live. Those people who make bigger donations could even be offered the chance to meet the cast of the film, whilst the highest level donation could see the person's name mentioned in the film credits.
For companies that already have a significant fan base, crowdfunding offers a fantastic opportunity to raise money quickly from a large number of people, each of whom donates just a small amount of money. Compare this to the time and effort that would be needed to sell your idea to investors or your bank manager, particularly in an age when raising finance can be difficult. The company may also have links with partner companies or organisations that run fundraising events. In this case, you can significantly increase participation by working with these organisations to promote your crowdfunding project. Another significant advantage is that you can reach out to your fan base for feedback on the project while it's being developed, thus making the final product more appealing. Crowdfunding enables you to raise awareness of the product at an early stage, thus increasing the potential for sales. With so many people behind you, it can also act as a great incentive to get the best possible product out on time and on budget.
However, there are disadvantages to bear in mind. The model can be described as 'all or nothing'. If you don't reach the monetary target required in the agreed time, all promises of donations are cancelled and no money is paid, leaving you back at square one. Should this happen, or still worse, you receive the funding but are unable to come up with the product, not only will your fans end up disappointed but the portal will record the fact that you failed to reach your target or that the initiative failed. Fulfilling all the pledges that you've made to people can also be very time-consuming. For example, remembering to send out copies of books or free cinema tickets can sometimes be forgotten in the excitement and frenzy of launching your product. People sometimes forget to factor in the cost of rewards when calculating profit margins, but these can be significant. And finally, if you have a small fan base, for example you're a new company or have a small social media footprint, raising awareness of your initiative will be challenging.
These drawbacks aside, donation-based crowdfunding is a wonderful opportunity for individuals or small start-ups to raise funds for that exciting new project whilst reaching out and connecting to the people who are most likely to support and promote your work for you.