Whether you are just starting out or already have a business or growing your own brand, IF you believe that your idea and business can go further (and you should think BIG if you are a Womenpreneur!), do explore the option of crowdfunding them.
Here are 5 ways crowdfunding can benefit women-led startups:
1. Tapping the power of your community, via crowdfunding, to support your business/ideas validates their approval (remember: these are your future customers/clients!)
2. Crowdfund doesn’t necessarily give any of your shares/rights away – unless yo are Equity Crowdfunding.
3. Through crowdfunding, you can gain access the amount of funds required to either start/grow your ideas/business – without having to pledge your assets to the banks.
4. Goes without saying: crowdfunding means you don’t have to loan money from illegal lenders, or lenders who might have the intention of taking advantage of your success later on.
5. You don’t have to pay back the capital that you have received from crowdfunding – although you still need to honor what you have pledged to give in return once you are funded by the donors.
Compared to Women in the US and Europe, I must say – from my perspective and experience – that female participation in the entrepreneurship world is still comparatively low in Asia.
Perhaps most are comfortable to operate from home (low risk, highly flexible) although the return may be slow to generate.
I look forward to seeing more women using the opportunity provided by crowdfunding mechanisms to take up the challenge to think big and explore the possibilities of what could have been if they pursue/push themselves.