Crowdfunding is fast becoming a powerful alternative to traditional financing sources for business idea development and growth. This new method allows entrepreneurs to utilize vast networks of friends, associates, and the general public to solicit monetary donations for a project in exchange for rewards. In most cases backers (people that support a project) donate to a project in exchange for non-monetary rewards such as the finished product, a T-shirt or even a “thank you” note.
In addition to donations, crowdfunding allows inventors and entrepreneurs to gauge public interest in their idea.
Several websites allow creators to request crowdfunding.
For more information on crowd funding…
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