Crowdfunding is a hot topic at the moment. Many businesses are now bypassing the traditional route of bank-lending as it often just isn’t up to speed with today’s fast paced business environment.
Crowdfunding is a growing phenomenon that brings together businesses and investors via very efficient websites. Put simply, crowdfunding allows businesses to set out a business idea along with a funding target and deadline. Investors can then donate between £1 and several thousand, receiving an investment return via interest payments or goods of a comparable value.
Crowdfunding is gaining momentum throughout the UK, with the local business angel network Halo recently reporting that it was worth £1.7billion in the UK last year, with around 4% of small business funding being raised through this channel.
Businesses typically find that crowdfunding offers a much quicker and less onerous way of raising funds, although interest rates can often be higher than high street banks, depending on credit profile.
At RBL, we can help you decide the most appropriate way to fund your business. We regularly deal with the major crowdfunders, as well as banks and other finance providers. We also have expert advisors on hand to help you put together a strategic business plan, assist you with funding applications and make sure your business makes the most of the funding it receives.
If you would like our help and advice please get in touch at info@rossboyd.co.uk
We look forward to hearing from you and getting you in with the ‘in crowd’.