Every idea doesn’t need to have a bank loan, grant, and capital from VC to begin. Crowdfunding is based on the concept of democratizing the flow of funds into the business or project. Today millions of projects across the United States of America have been able to see the light of day because of the strong support by the community for fun, simple and unique rewards.

If you’re seeking to finance the latest hot startup, a new venture, or a cause-based company You’ll find the right crowdfunding website below that could be ideal.

What is the process of crowdfunding?

Crowdfunding is a method of raising money A person seeking funding to launch an initiative submits the idea on a crowdfunding site.

The amount required to launch the venture is started, and also is the date when the campaign will close. The project is seen by different people and those who think it worthy to contribute to the project. After the campaign, the funds will be donated to the creator of the project to begin the project.

You might be wondering why anyone would want to help a cause that they see on a site? There are many reasons to support a project:

• Many people are interested in the chance to be a part of an idea that could be the ultimate power in the world or a particular region.
• They have the opportunity of being one of the first to try an item or experience the products
• The project creators can offer rewards such as personalized t-shirts caps, caps, and so on depending on the amount that is of money donated.
• The supporters may have access to speak with the founders and also attend their events.
• They can take advantage of this to donate a large amount to own a stake in the company
• Credit they receive could have a significant impact on their portfolios
• Some people are nice and want to make their dreams become reality!

The list goes on!

What’s in it for crowdfunding websites? The crowdfunding sites retain a portion of the money they raise. This is typically less than 5. In the event of involvement by an escrow service, the percentage could increase to 10 percent. The remaining amount is paid to the person who created the project. Over 34 billion dollars were raised through the crowdfunding platform in 2015.

There are a variety of crowdfunding sites with various rules and fees. But the basic structure and rules are generally similar. Send your proposal in, and set the goal of fundraising, and set an end date. It is also necessary to seek out support from relatives, friends, and your social media platforms.

So whether you’re seeking funding to make the film of your dreams, launch your own business, run an IT company, or build a stronger community Whatever creative idea you may have, you can make use of crowdfunding websites to assist you in achieving it.

If you’re seeking to finance the next hot startup, a new venture, or a cause-based company You’ll find an online crowdfunding platform below that could be ideal.

1. Kickstarter.

Kickstarter is a platform for funding creative projects. It’s a wonderful platform for filmmakers, artists as well as writers, musicians, designers, and illustrators, as well as curators, explorers as well as performers to bring their ideas and ideas to life. The creators of projects inspire individuals to reach for their wallets by offering benefits, products, and enjoyable experiences.

On Kickstarter, it’s all or nothing. Therefore, you have to meet the goals you have set within the timeframe you’ve given time, or else everyone gets their money returned. It’s completely free to start an idea on Kickstarter and if it’s successful in obtaining funding, Kickstarter applies a 5 percent fee on funds collected. Additionally, there will be processing charges of between 3 and 5 percent.

2. Indiegogo.

Indiegogo is an international crowdfunding platform that allows users across the globe to raise funds for ideas and projects that are important to them. The platform allows both entrepreneurs and individuals to create pre-sales, and get the feedback of early adopters before when they can manufacture their products.

Indiegogo provides live crowdfunding campaigns as well as an online marketplace for innovative products. Since its launch in 2008, it has helped entrepreneurs around the globe raise more than 1 billion dollars to fund more than 650,000 initiatives.

1. GoFundMe

GoFundMe is a crowdfunding platform specifically designed to assist charities and individuals raise money. Contrary to other crowdfunding platforms that are listed, GoFunMe is not suitable for fundraising by businesses.

It is best suited for community projects, causes as well as individual projects. For instance, a Nigerian blogger Omoyele Sowore, who is the proprietor of Sahara reporters, made use of GoFunMe to raise funds for his presidential bid. site GoFunMe to fundraise money for his presidential run for the 2019 election.

If your concept is philanthropic or community-focused, or in a position that requires help You can make use of the platform for raising money.

GoFundMe does not charge any cost to use its platform, however, the transaction fee of 2.9 percent plus $30 for each donation might be applicable.

1. Crowdfunder

Crowdfunder is an equity crowdfunding platform that allows entrepreneurs to raise funds through a crowd consisting of licensed investors.

They have a huge network of more than 12 000 venture capitalists and angel investors who can pitch your ideas to raise funds.

Crowdfunder has a monthly plan beginning from $299/month. You can make a public profile. You can make your profile a private one without cost.

5.NaijaFund

NaijaFund is a Nigerian crowdfunding platform based in Nigeria which helps people raise money for a range of different things, including business.

All you need to do is to create an account. It is easy to do this by using your social networks profiles.

Naija Fund is charged 10% of donations made

Conclusion

Crowdfunding websites are a great option to raise funds for your ideas. If you’ve got a great idea but no money and you’re not ready to give up, you could make a difference through this platform to gather money.