Source: Shopify
Crowdfunding: Introduction, Benefits and Guide for start-up
Crowdfunding is an enactment of raising fiscal contributions from a large number of people for funding the project. Crowdfunding is often performed through internet-mediated registries, mail-order subscriptions. This concept is based on; instead of taking a large amount of money from some people, it takes a small amount of money from a large number of people. In Crowdfunding, fundraisers arrange public campaign placing emphasis on important features of their coming projects and this usually done via online platforms. Funding projects can vary from educational to charitable.
Crowdfunding first was popularly used by the music and art community. The first noticeable crowdfunding was done in 1997 by a British rock band Marillion. ArtistShare is the first crowdfunding platform developed in 2003 for artists. After that many websites were developed for crowdfunding like Indiegogo, Kickstarter, etc.
There are some startups like Brahma, Dabba radio which successfully raised funds through crowdfunding. Statistics show that in 2003, there was only one platform for crowdfunding and in 2012 it increased up to 450. Crowdfunding companies provide investors with benefits like improving their profile, good market testing feedback and audience engagement. There are also some risk factors like public fear of abuse, reputation fear, IP protection, Donor exhaustion.
Article posted by Shopify about crowdfunding especially focuses on its benefits and how you can start your own crowdfund. Have a look at all 23 chapters regarding crowdfunding which will guide you in detail about this topic.
Read more here.
source http://www.business-opportunities.biz/2017/03/09/ultimate-guide-crowdfunding/
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