Analyzing Crowdfunding’s Relevance and Importance

BUS 237 - Group 6 - Crowdfunding

It’s important to understand how crowdfunding may become a crucial component of business in the future. As it stands, there have been some tremendous successes for crowdfunded projects. What these successes have shown is that crowdfunding is a way that allows small businesses to take flight, unique ideas to find investments, and seemingly “niche” products to show how wide the market really is. It provides access to capital, essentially allowing start-ups to bloom without accumulating debt. Because crowdfunding directly approaches consumers, asking them up front for their time and money, it allows business owners to assess the potential popularity of products. Likewise, if the base concept is enticing enough, there is no easier field for spreading information than the Internet. Your product, or concept, may just start the next Internet wildfire, and it will be the public that does that for you–free of charge. A final crucial advantage of…

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