Crowd fundraising—often referred to as crowd funding or crowd sourcing, is a method to raising money for new projects and/or businesses by inquiring micro donations from a large number of supporters and sponsors. Though this is currently becoming more and more popular, for years charities and non-profits have used this approach to gain public responsiveness. Nowadays, with the excessive shift in social media, crowd funding has developed into a sustainable fundraising mechanism for all new music, artists, films, creative ideas and projects, in addition to charities and nonprofit organizations.
There are a few drawbacks to this new web-based phenomena - the lack of quality, confidentiality, and the reliance of crowd sourcing. When you open the doors, anyone and anything can be posted on these sites without digression, which leads to inconsistency and trying to deal with matters out of your control. Another caution is to be careful not to give away competitive information. Intellectual property theft is a concern, so anyone who has an idea through a crowdsourcing platform has to be careful not to hand over a great idea on a public forum and never get credit for it.Read More… Post Comment