Is Loomio the right tool for making decisions for the Fosters Garage group?
There's already a Facebook page that's getting busy quickly.
Why I have suggested Loomio is that it is really good both for having discussions and also allowing people to easily see how everyone has voted. Why don't we give it try by using it to decide whether to use Loomio?
Anton Juodvalkis Thu 25 Jun 2015 12:42PM
Or would it be better to set up a corporation and have people buy shares?
Viridian Mars Thu 25 Jun 2015 1:25PM
What are the pros and cons of the two ideas above?
Sinclair Park Thu 25 Jun 2015 3:05PM
I am a novice in this area, but my understanding is that both these options come with a fairly hefty price tag with regards to set-up and on-going compliance (perhaps the set-up costs could be reduced by pro-bono work, but the compliance costs will be more difficult to reduce). There is a third option of setting up a unit trust, which has much lower set-up and compliance costs. I have heard that the main disadvantage of a unit trust is that there is a maximum number of parties of 20 (i could easily be wrong about this), which would take the average contribution to $60,000, putting more into the realm of self-managed super funds etc. But perhaps worth exploring further...
Anton Juodvalkis Thu 25 Jun 2015 10:02PM
This conversation shows we really need to sort out the governance arrangements before sorting how to source the money.
Gull Herzberg · Thu 25 Jun 2015 12:32PM
Great Idea, Anton.
OK, so let's use it and see if it works for us.
We can log in using FB.