Saturday, May 19, 2012

Crowd Funding for the Financially Impaired.2

Corporate Headquarters of Small World Enterprises, parent company of KB Transport, HKB Photo and Tunesmith Tavern: )

On April 5, 2012 President Obama signed H.R.3606, the Jumpstart Our Business Startups (JOBS) Act, to increase American job creation and economic growth by improving access to the public capital markets for emerging growth companies. If you are an entrepreneur, and if the crowd funding idea appeals to you, following this link will get you started:  Also, you can search the web for "crowd funding sources". I will post as many resource links for my readers as I can, but I cannot be responsible for the content of the links, or for reader results that occur because you use them. Here is a government link to FAQ about the law.

As a prospective user I have to admit that I am excited at the possibilities of crowd funding. Early in my trucking career I was tempted to solicit loans from people in several ways to help me purchase a truck to start my own business. I think the only thing that kept me from it was not knowing if or how I would ever repay the loans. However, from what I understand thus far, crowd funding is more like a grant than a loan, with one small exception. You are more apt to get funding if your funding source receives something, a gift, in return. I will explain this more as this series of articles progresses. Simply put: someone donates $100 to help you meet a $500 recording studio fee. In return you give them a t-shirt with your logo on it, and a cd of the recording session. You have met your obligation for the donation.

I am writing these articles as I do the research for possibly applying for crowd funding for my business venture. Although I am hoping to end up with two profitable businesses (a music career and a photography career) out of the deal I do not yet know which one I will be seeking help for, possibly both. And, I am hoping this series of articles will help anyone who is interested in seeking crowd funding find their path to success in receiving help to start their businesses. And, I hope that you will succeed in your adventure.

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