Crowdfunding is a relatively new way to access finance.
It relies on people donating money and sharing networks and resources to support a project in return for incentives or rewards such as merchandise, products, or recognition.
Crowdfunding is suitable for businesses that can attract followers who share the same values or interests in new technology, products, or sustainable practices.
If you’re interested in crowdfunding, you should explore reputable websites where you can post information about your business and why you want to develop your new idea. Where possible, you may wish to register your intellectual property
to protect your ideas before you take this step.
There are no guarantees that you’ll attract the funding you need, or receive them within a certain time frame, so if your expansion requires financial backing within a given period you may wish to consider another form of finance.