Crowdfunding Opens Up Opportunities for Non-traditional Funding

by Abdou Sani Boukari Consultant

What is "crowdfunding"?

Crowdfunding is just a new twist on "passing the hat." In recent years, crowdfunding gained a lot of visibility through the platform Kickstarter, famous as a social network that invites regular users to "fund" the projects of favorite musicians, films and other creative projects. What many people don't know is that crowdfunding has been used successfully for funding small business, and as more businesses try it, new fundraising platforms are proliferating.

Getting Started with Crowdfunding

To crowdfund a project, you create a page online and ask for people to contribute funds, usually for token rewards or prizes. While crowdfunding has been long-associated with films, music and creative projects, its use by entrepreneurs is growing all the time. And while Kickstarter and Indiegogo are major players in the space, all one needs to create a crowdfunding campaign is a WordPress site and a method to collect payments online like PayPal.