In today’s Business English News lesson, we look at new methods of raising capital for startups.
Crowdfunding, the idea of gathering lots of small contributions from individuals to finance a company or a project, is one of the latest buzzwords to hit the business world. Born as a result of the economic crisis where access to financing from traditional sources is increasingly difficult, crowdfunding is another avenue to secure funds for entrepreneurial ventures; as This is Money explains:
Until recently, financing a business involved asking a few people for big sums of money. Crowdfunding is turning this idea on its head, using the Internet to help entrepreneurs talk to thousands – if not millions – of potential funders who each contribute a small amount.
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