Definition

Raising small amounts of money from many people, typically online, to fund a project or business.

What to consider

  • Research the platform and the project before contributing funds.
  • Understand the potential risks and rewards involved.
  • Stay updated on the campaign’s progress for transparency.

Real world scenarios

  • When launching a creative project, Ben turned to crowdfunding and raised enough money from supporters online to bring his vision to life.

Related terms

Entrepreneurial Finances