Crowdfunding has become a popular option for entrepreneurs looking to launch a new product or service. It lets you tap into the collective efforts of friends, family members, customers, and individual investors to raise the capital you need to start your business.
Platforms like Indiegogo , Kickstarter , and GoFundMe make it easy for you to host an online campaign and reach potential backers through email and social media. Plus, thereвЂ™s the added benefit of validating and refining your business concept through feedback from the masses.
Small Business Grants
Small business grants are an extremely attractive source of funding because, unlike small business loans, you donвЂ™t need to worry about paying them back.
Federal, state, and local governments offer a wide range of grants to help small businesses start and develop. The catch is that they are typically reserved for specific industries and causes that have been identified by the government, such as scientific or medical research or conservation efforts.Continue reading