There are many people who don’t wish to do a 9-5 job but start something of their own. Be it a bookstore, a clothing line, a website, an agency among other enterprises, people have different dreams that they wish to achieve but sometimes can’t, due to the lack of money. Many of them often depend on bank loans to start their businesses or they rope in investors or borrow money from trusted individuals.
But the drawback in the same is that you have to return the borrowed money. If you rope in investors, you have to share the profit, the higher percentage going to him or her. Here’s where crowdfunding India can come in handy and make your monetary worries go away.
Crowdfunding Indiais a practice through which you can raise funds online, by approaching thousands of people at once. You can ask each member to contribute a small amount, to add to the total amount. All you have to do is start a fundraiser on crowdfunding websites such as ours and provide details of your cause/ project.
The target: If you choose to borrow loans from a bank for starting your business, you will have to borrow an amount that you can repay, depending on how well you do with the business. Usually, people choose to play safe and borrow a limited amount. They decide to put in the pending amount through their own savings.
But with crowdfunding, you wouldn’t have to worry about the target amount as there is no added pressure of returning the borrowed money. When you start a fundraiser, you can choose the target amount you desire for your business, as all you have to do is approach people and monitor the funds that come along.
Help from several people: Unlike in situations where you are restricted to a bank or a few trusted individuals for money, in crowdfunding, you can approach thousands of people at once. And since you raise funds online, it saves you from the effort of physically reaching out people to ask for funds.
Easy procedure: Taking loans from banks often involves paperwork. But fundraising is an easy practice where all you have to do is start a fundraiser by providing necessary details about your cause/project and monitor the money that pours in. Crowdfunding websites such as ours also have dedicated team members to help you with your fundraisers.
No waiting game: You may have to wait when borrowing money from banks or close family members and friends. The latter may only be able to give you money, once they have a sufficient amount themselves. But with crowdfunding, everything is live in action. You can start raising funds, the minute you start your fundraiser and have the freedom to monitor the funds as well.
In your control: How the fundraiser performs, is solely under your control, which is a good thing, as it gives you an opportunity to reach your goal amount on your own terms. If you promote your fundraiser aggressively on key social media platforms such as Facebook and Twitter, you can reach out to millions of donors and compel them to contribute to your cause.