How to raise fund for startups

November 20, 2020

 

How to raise fund for startups

The most essential requirement to set up a business is the capital, without which it is impossible to take this step. Whether you invest your own money or you take the loan from any other source, you need funds to initiate a new venture.

 

How to raise fund for startups

Crowdfunding in Singapore

Crowdfunding is the collection of small amounts of capital from a large group of individuals to raise funds for new start-ups.

Crowdfunding in Singapore is quite common and there are a number of websites working to support a new business, community fund, or personal causes. It is a rapid and easy method to raise funds via an online platform in which an appeal is made to donate for a cause.

 

Where to Find Crowdfunding Websites

The crowdfunding websites which promote the growth of an individual or group by raising the fund are:

§  Indiegogo

§  Airfunding

§  Give.asia

§  Giving.sg

§  Moolah Sense

§  Funding Societies

All these crowdfunding websites are helping people to raise funds to help themselves or many other people who are in great need of money. The different websites raise funds for different purposes like funding societies provide the platform to support the development of small to medium enterprises in Singapore.

 

How to Benefit from Crowdfunding Websites

An entrepreneur is benefitted via this platform without any burden of personal loans. Moolah Sense is considered to be the most trusted digital platform to raise funds. There are other crowdfunding websites that are only working for charitable causes like animal welfare, women's rights, environmental movements, etc.

 

Raising Start-Up Capital with Crowdfunding

These websites are really assisting the new entrepreneurs in raising start-up capital in Singapore to provide them a platform of support and cooperation to come up with new ideas. The process of raising fund from one of these websites is:

·      Set up a free crowdfunding campaign: It is required to fill in the details about yourself because people will not support you unless they find authenticity in your approach. Also, talk about whom you are raising funds for and what is your purpose behind it.

·      Share the campaign: As this is all executed on social media platforms so it is significant to share your campaign with friends, family via Facebook, Instagram, Whatsapp, poster, etc.

·    Receive donations: If the purpose is well defined, you will definitely receive donations from your friends, family, and even strangers across the world. It will help you to accomplish your task with the aid of many empathetic people around the world.

·      Withdraw funds from the campaign: When the fund is being raised, you can transfer the amount to the specific organization for whom you have taken pains to generate the fund so that they can utilize the amount for the right cause or if the amount has been generated to set up the start-up then the amount can be transferred to your account.

This is becoming really beneficial for the people who have no known sources to generate the amount for themselves to start up a new venture to support them and their families. They are fortunate that they are getting an opportunity to give shape to their innovative ideas.

 

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