In this digital era, starting up a new business is just getting easier. When you feel like you have a brilliant idea, sometimes you get stuck because you do not own enough money to actually turn that idea into a new small business. But, things get a lot simpler now. I introduce you to crowd funding.
What is Crowd funding?
Crowd funding starts arising perhaps since about 4-5 years ago. Crowd funding is a new way to fund your business by asking for people’s supports. By starting a crowd funding project, basically, you are asking supports from all the people and collecting money from them.
Maybe it feels weird for you: how could you ask people you barely know to pay some money and help you fund your business? That is the unique part of crowd funding. Yes, you will be campaigning to all people about your interesting business idea, so when people feel like they are interested in your business, they will pay you a small amount of money and they will get something from your business as a return. They may get a souvenir or they may get their name listed as a credit, it is all up to you.
The more people support your business idea, the more money you get. An average small business usually raises up to $7,000 using crowd funding. This amount of money can be collected at an average of 9 weeks period.
Crowd funding Platform
Now, to start your crowd funding project, you have to register your business idea to a crowd funding platform. Most crowd funding platforms are online, so it is easier to you to campaign for your business idea. There are more than 2,000 crowd funding sites right now and they are all available online. After your business idea accepted, you can start campaigning for it through social medias. The more people involved, the easier for you to actually start your business.Read More