David Worrell Contact If you've been looking for funding, this is a very good time to be alive. Yes, I know that banks are not lending and venture capital is hard to find. But I'm talking about a brand new way to raise money for your business. A way that was never available before and that is quickly transforming small and medium-sized businesses. Social funding, (also called "crowdsource" funding or just crowdfunding) is taking on a life of its own and redefining how small businesses raise money for startup or growth. New crowdsource funding websites are popping up like dandelions in springtime. Much has been written recently about KickStarter.com (like this great piece by AllBusiness writer Carol Tice), so I'll skip Kickstarter. Here's a quick look at my other favorites:
Summary
Crowdfunding is a new funding business model that some firms are starting to look at to get money for their start-ups or to take their business plans further. In many instances it is not so much how many crowdfunding websites are out there that you can tap into to get money, but rather which have a reputable name and will guarantee results to entrepreneurs that want to take their business plans to the next level.
Description
Some of us have never thought about pooling the resources we can get from family, friends or even strangers to take gigantic steps forward in a business. With the crowdfunding model this is analyzed from different perspectives with the introduction of social networks and interactive platforms that make it easy for people to find supporters and get their message about their business out loud and clear. We are approaching an age where banks may not necessarily be the solution that people will turn to to get funding thanks to the great possibilities that are online through crowdfunding.
Is Crowdfunding the Future of Journalism?document
Crowdfunding Could Support Civil Rights Reportingdocument
Crowdsourcing 101document
Change Crowdfunding Lawblog
Posted by Ruth Baxter