Crowdfunding has reshaped the way small businesses access capital. Platforms like Kickstarter, Indiegogo, and GoFundMe have democratized fundraising, offering entrepreneurs a chance to secure funds directly from their target audience.
According to a Statista study, the transaction value n the Crowdfunding market is projected to reach US$1.20 billion in 2024, highlighting its growing importance as a funding mechanism. However, as with any financial tool, crowdfunding comes with its own set of challenges, making it both an opportunity and a risk.
This article explores the dual nature of crowdfunding, offering insights into how small businesses can leverage it while navigating the potential pitfalls.…
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