& Revitalizing the Community
Now that crowdfunding has gone mainstream which one should you use?
Starting July 1, small businesses in Gloucester County will have access to new funding options for starting or growing their operations as part of the county's new "microloan" program announced by freeholders on Wednesday.
Come June, the state Economic Development Authority will begin making a quarterly commitment to giving Garden State entrepreneurs individual access to angel investors and venture capitalists.
The past few years have seen an explosion in crowdfunded companies and as a result, both rewards crowdfunding sites and equity crowdfunding sites have grown in popularity as well. There’s now a crowdfunding site for just about everything from yoga studios to medical devices.
Like most entrepreneurs, Frederick Hutson cannot resist trying to solve a thorny problem. His company, Pigeonly, based in Las Vegas, taps an underserved and “captive” market by offering prison inmates an easy and efficient way to receive photos from loved ones and to make phone calls to them inexpensively. “Isolation is the worst thing for an inmate,” Mr. Hutson said. “It makes it hard for him to rebuild his life when he gets out.”
A study from American Express OPEN revealed that while more than half of small business owners pay themselves a regular salary, they are receiving an average salary of $68,000 annually, down from $72,000 a year ago. In addition, nearly 15 percent of small business owners need to work a second job while running their business in order to make ends meet.
Camden, NJ – The Latin American Economic Development Association, Inc. (LAEDA) successfully closed $20k in microloans to graduates of its Entrepreneurial Development Training Program through its new micro-lending program EDTP ROSCA.
Cash is king for every business, but especially small ones, whose very existence often hangs perilously on access to the king. For most small business owners, that means having a line of credit, an “emergency credit card” of sorts that allows them to handle cash-flow problems or take advantage of unexpected opportunities.
No matter what the economic situation, someone somewhere, eyes bright with potential, is looking to start a new business. Funds are often the biggest hurdle to what could otherwise be a lucrative opportunity. Here are some ways - traditional and/ or creative - to raise money for your startup business.
Don’t let your cash shortage shut down your business dream. With popular crowdfunding websites, potential investors are closer than ever. The 5 crowdfunding sites featured below are perfect places for you to raise money to build your dream…
Latin American Economic Development Association
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