Crowdfunding

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Crowdfunding provides a large audience for your concept with the added bonus of finding future consumers of your product, alongside the funding itself. This is usually an "all-or-nothing" approach where you determine how much money you must receive in order to cover your startup costs. And, if the crowdfunding goal is met, then your startup will be funded.

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In this approach, you may gain the consumer awareness and foundation capital you need to succeed, without giving up any ownership in your company and without having any financial institutions to answer to.

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This continues to be the largest segment of the nontraditional funding market, especially since the government has recently been loosening crowdfunding restrictions.

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This reduces the hassle for many businesses that are looking to get off the ground, as they no longer have to haggle with banks or the FCC in order to gain the funding that they are looking for.

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With sites like Kickstarter, Fundable, and GoFundMe becoming household names, there is really no telling the extent of what crowdfunding can do for a business in today's online marketplace.