What is Crowdfunding?
Crowdfunding is simply a way to increase your business capital using popular crowdfunding websites like GoFundMe, Kickstarter, Indiegogo, and social media. The purpose of crowdfunding is to ask individuals to invest as little or as much as they can in your business or business idea. It can also bring investors and entrepreneurs together which can be of benefit to both parties. There are some restrictions on who can fund a new business and how much they can contribute. It is important to weigh up pros and cons related to crowdfunding and the potential damage it could cause to your business’ reputation.