Summary
Money is the lifeblood of any new enterprise. With it, a small business can expand and flourish by purchasing new equipment, funding a marketing campaign and even hiring more workers. Without it, there are considerable challenges that may not be overcome. The business may not establish a solid following or client base, it may be vulnerable to the ebb and flow of the market, and it may not outlive initial growing pains.
Description
More businesses are taking advantage of non-traditional sources of funding, especially through the Internet. Entrepreneurs are using Facebook and LinkedIn to find investor match-up sites where they can advertise their need for capital. They are also joining online communities where other investors and entrepreneurs share information. Also, crowdsourcing sites such as Kickstarter.com, Chipin.com and Indiegogo.com allow people to donate money to support a business. The benefit of crowdsourcing is that a business owner does not have to sacrifice equity in the business in exchange for funding.
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Posted by Jason Robbins