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FUNDAMENTALS OF CROWDFUNDING. Crowdfunding is a term that represents a process where people raise money in large numbers and the money is later used to finance their businesses. The internet is one medium that is used to raise money for it helps business people raise money. There are so many other platforms that can be used in crowdfunding as long as people understand each other. Currently, crowdfunding has become a trend in the business world. There is a research that has been conducted in the US and it shows that there are over 600 million dollars that have been conducted using crowdfunding different platforms all over the world. This is an indication that crowdfunding is here to stay and it represents a major and a new source of funding for new businesses. This is also a non-profit funding to all those who are seeking contributions and to the artists who are seeking recognition for the creative effects they have. Some of the Crowdfunding platforms that is commonly used are Kickstart, Indiegogo, LendingClub, and fundable among others. It is on these platforms that donations are sought in return you get a special compensation. Each and every site have their unique terms but the general concepts in all the platforms is the same. Another use of crowdfunding platforms is correcting loans and royalty financing. Taking an example of a platform like Lending clubs where the members are given a chance to invest directly and borrow money from each other. These platforms are able to benefit because they have been able to eliminate businessmen from their transactions. The idea behind such a platform is to bring business owners and investors together. Another aim of this platform is selling the company shares or the ownership stake in the company on the crowdfunding websites. The main role of crowdfunding is assisting in startup or early-stage companies an opportunity to launch their products and services without exposing the entrepreneur loan officers who are offering them with the loan. Once a crowdfunding campaign is successful, it offers businesses with the financial support they need and it also creates a base for customers who feel it is their duty to patronize the business for they have a steak to be successful. There are so many advantages associated with crowdfunding for it has helped a lot of people start their own businesses. Crowdfunding can be a waste of resources if the campaign of crowdfunding is not well arranged. The platform has so many advantages and on the other hand it has disadvantages as well. Involve family members, friends, and well wishers who will be willing to share your business passion with you in your crowdfunding campaign if you want to be successful. They will also help you continue the campaign as they encourage others to join the platform.

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