About Independent Collectives
Being an Independent Collective is a good option if:
- You have a personal or company bank account you can use to hold your Collective's money.
- You can take responsibility for accounting, taxes, liability, payments, and financial admin for your Collective.
- You can set up a Stripe, Paypal, and/or Wise account connected to this bank account (not required but highly recommended so you can use Open Collective's financial automation features).
- You hold the money in your own bank account and have complete control of it.
- You can set your own policies about the activities of your Collective.
- You do not need to pay any fees to use the platform.
- You have to manage more admin tasks.
- You hold legal liability.
- You are responsible for accounting and taxes.