Crowdfunding is the practice of raising money by involving a group of people in your project. The people in this group contribute money to fund your venture and translate your idea to reality. Crowdfunding is also called crowdsourcing or alternative finance. Other names for crowdfunding are crowd sourced capital and crowd financing. Crowdfunding is a relatively new sector and it is still developing. However, it is growing very fast because it has great advantages for the project initiator and the investor. Before you take your project online for crowdsourcing, you need to understand how the process works.
The three parties involved
Benefits for the entrepreneur
Benefits for the contributor
One reason crowdfunding is growing at a very fast pace is that it is done via the internet. These days, many online crowdfunding platforms offer investors and donors the perfect opportunity for crowdsourcing. Below are some of the things you should do before you launch your crowdfunding project.
Do your home work
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