Capital money is one of the hardest things to come up with when you’re planning to set up a business. It would depend on the nature of the enterprise you’re thinking of putting up. If it’s a fine-dining restaurant, the cost of rent alone will be enormous. You’ll need to invest on kitchen equipment and hire a really classy chef and assistants. These and more could run up to hundreds of thousands of dollars.
If you’re planning to create or manufacture a product, on the other hand, that can also take a lot of money. You’ll have to come up with the research as well as a prototype or working model and crash test it before you are able to launch. That of course is if you’re planning to release a product with all the bells and whistles.
However, there’s a new way to secure funds for startup business ideas. It’s called crowdfunding, and a lot of people have already experienced the benefits. Basically, you create a small website or landing page with photos, videos, and explanation of your proposed business. Some sites require a working prototype of products to ensure that the crowdfunding idea is not abused by people who just want to earn a fast buck. From the landing page, people will be able to “donate” any amount they think will help you start your business. Some sites also allow pre-orders for the products.
We’ve prepared a detailed infographic to help people crowdfund their next business or product idea. Have a look and see if this is exactly the kind of help you’ve been looking for!