How Crowdfunding is Changing Startups

BY ADAM HEITZMAN

 Co-founder, HigherVisibility

It used to be the case that credit cards, family, friends, bank loans and personal savings were the most popular ways to fund a business startup, and with the most detailed of business plans, an entrepreneur could pitch Venture Capital firms and Angel Investors for funding. This is now all changing as more and more entrepreneurs are turning to the latest option for startups–Crowdfunding.

For those who are unfamiliar, crowdfunding is a means of raising funds from large groups. Kickstarter is probably the best example of crowdfunding. You create your business plan and idea and then upload it to the website with a financial goal in mind, and people can give money toward your goal if they believe in your business. It’s easy, and it’s a method to keep a close eye on in 2015.

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