What is Crowdfunding?


“Crowdfunding is not a new thing in the world, but it is not very popular in Ukraine yet. Therefore, there are many risks and difficulties. But those involved are convinced that crowdfunding is a very fascinating and useful method in promoting and financing various projects. So, dear investors, you should remember, “No one has ever become poor by giving.”
– Anne Frank.

In addition to a good idea, a proven team and partners, money is needed to start a startup. At the stage of finding sources of financing, each entrepreneur uses many methods, from personal contributions to obtaining a loan. Not many people know, but you can use a method of the so-called ‘crowdfunding’.

Crowdfunding is a voluntary collective donation to a project by individuals or organizations.

That is, the essence of crowdfunding is that you have a good idea, but it takes money to implement it, and there are ordinary people (backers) who are willing to finance your project for a certain reward (copies of products, discounts on services / products). Crowdfunding is used worldwide, but is most flourishing in the United States.

There are various platforms for fundraising, both international and Ukrainian. However, in order to start raising funds, the goal must be declared, the price of achieving it must be determined, and the calculation of all costs and the method of financing must be open to the community in free access. A well-determined business plan is a must!

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