Recently interviewed by the New Statesman, Barry Sheerman MP, founder of the APPG for crowdfunding and non-banking finance, told the media outlet that he thinks crowdfunding, whether to facilitate charity, ownership or starting a business, should be considered “the biggest feather in fintech’s cap.”
“Crowdfunding is the biggest feather in fintech’s cap.”
The real key sell for crowdfunding projects is in their accessibility. They can help anyone and everyone to achieve an ambition whether it is large-scale or just localised. IIt could be funding a local library or repairing a church roof, or it could be laying the foundations for the next multinational company. Technology has taken the whip-round to a new level.
Banks don’t want to give out loans as readily as perhaps they once did. A lot of entrepreneurs are hampered by having to present a business plan alongside their ideas from the onset. It’s hard to come up with a long-term strategy when the idea might still be in its infancy. Crowdfunding doesn’t have those barriers and you can set your targets as you go along.
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