• Money and finance

Is crowdfunding right for your business?

Crowdfunding is becoming a popular option for start-ups, but before committing make sure it makes sense for your business.

Before we go any further into whether crowdfunding is right for your business, let’s first clarify what it is.

Crowdfunding is sourcing small investments or contributions from many individuals through social networks and online fundraising platforms such as Kickstarter, Indiegogo, GoFundMe and StartSomeGood.

Although the term is ‘crowdfunding’ it is more accurately, ‘peer funding’ as the process leverages personal and professional contacts across social media platforms.

So now that we’ve defined what it is, it’s important to determine if it’s an alternative financing option that suits your business. To help you decide, take our crowdfunding self-assessment quiz.

Looking to download this quiz to do offline? Click the download resource button at the top of this page.