Startup companies in Nova Scotia stand to benefit greatly from the spread of the crowdfunding movement. It’s just not happening fast enough.
Crowdfunding, according to the Oxford Dictionary, is the practice of funding a project or venture by raising many small amounts of money from a large number of people, typically via the Internet.
This opens up the world to Nova Scotians with good ideas who need access to money in order for their business dream to become reality.
In the past, because of our small population, Nova Scotia startups have been limited to seeking help from government and/or a handful of angel investors willing to participate in the process of getting a business off the ground.
Crowdfunding is a game-changer for would-be entrepreneurs in our region because it will not only allow them to get their enterprise started, they can potentially return to the crowdfunding model over and over to support expansion of their ideas.
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