Some of us call it one word as a compound: Crowdfunding. Others use two words “Crowd Funding”. Either way, crowd funding helps specific types of industries earn funding to get their amazing ideas off of the ground.
Have you ever said “I wish I had the money to make that happen?”
With crowdfunding, people who have great ideas without any money are no longer in a corner. Crowdfunding allows us to put our ideas out there and find investors quickly. Even if the investor has only one single dollar, that can add up. What if 10,000 people believed in your idea and each contributed only $10.00 each. You would only need 1,000 people to help fund your idea.
The main ingredient for any crowdfunding websites is the goal. The goal is a financial amount of money that you would like to earn for your idea to get it off the ground. Once you reach the goal, you get all of the funding. Funding is also driven by an expiration date, so for example, if you need to earn $50,000 by December 31, 2016, you would the entire sum before or on that date. If you do not reach your goalby the expiration date, some websites would provide you the current sum while others would return the money to the investors. It depends on the website.
Crowdfunding websites include: