In the UK, money for start-ups is tight – Bank of England figures indicate that lending to businesses has been shrinking since the end of 2008 – and crowdfunding is now spreading beyond the arts. Crowdfunding itself is also evolving. Instead of soliciting donations to get his business off the ground, Oliver Morgan sold a share of his already established company to the crowd when he needed to expand.
“There’s always room for a little guy, and something that’s controlled by a big few is usually where the opportunities are,”he says.
Tags: bank-loans, crowdfunding, crowdsource, crowdsourcing, financing, money
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