July 6th, 2018.

Most businesses that attempt to crowdfund are either not accepted onto a platform or don't reach their fundraising goal - mainly because they're unprepared and don't understand exactly what it takes to attract investors.

Here are 10 steps that will help you get your crowdfunding business proposal right.

1. Is crowdfunding right for you?
Most businesses arrive at crowdfunding having failed with the traditional alternatives. Since the global recession, banks have made it far more difficult for small businesses to get loans, and now very rarely provide funding for anything they deem as potentially risky. At the same time, many startups are often considered too small or early-stage for traditional angels and VCs, leaving businesses struggling to find the capital they need to grow.

But crowdsourcing isn’t right for everyone. Its format favours the more entrepreneurially minded business leaders with an existing following and brand awareness, whether that be through social media or a strong database of contacts. If your business lacks the ammunition to generate early traction, you could face the agonising feeling of watching your pitch fall flat in front of a very public online audience.

For the full story at growhbusiness.co.uk CLICK HERE.