Crowdfunding sites in India are helping innovators launch ideas, social entrepreneurs bring social change and startups raise funds. Most startups, small enterprises, and individuals avoid complex methods of raising funds. Raising money through bank loans, venture capital, and angel investors involve complicated procedures.
Moreover, before raising money, startups have to take into account the different funding stages to decide the mode of raising funds. Social For Action Crowdfunding is a far easy and less complex model.
Funding refers to the money required to start and run a business. It is a financial investment in a company for product development, manufacturing, expansion, sales and marketing, office spaces, and inventory. Many startups choose to not raise funding from third parties and are funded by their founders only (to prevent debts and equity dilution). However, most startups do raise funding, especially as they grow larger and scale their operations. This page shall be your virtual guide to Startup funding.
A startup might require funding for one, a few, or all of the following purposes. It is important that an entrepreneur is clear about why they are raising funds. Founders should have a detailed financial and business plan before they approach crowdfunding platform.
Steps to Startup Fund Raising on Social For Action
The entrepreneur must be willing to put in the effort and have the patience that a successful fund-raising round requires. The fund-raising process can be broken down into the following steps
The startup needs to assess why the funding is required, and the right amount to be raised. The startup should develop a milestone-based plan with clear timelines regarding what the startup wishes to do in the next 2, 4, and 10 years. A financial forecast is a carefully constructed projection of company development over a given time period, taking into consideration projected sales data, as well as market and economic indicators. The cost of Production, Prototype Development, Research, Manufacturing, etc should be planned well. Basis this, the startup can decide what the next round of investment will be for.
Social for Action is one of the few crowdfunding sites in India that completely focuses on small businesses and enterprises, Fundable features campaigns across business sectors in India. The platform features campaigns across business sectors.
From raising funds for affordable clinical diagnoses to intellectual travel experiences within India, entrepreneurs and businesses across sectors have used the platform. Among other sectors are banking, travel, food, and beverage, and fitness. A section ‘New and Noteworthy’ ensures that people who want to support can browse through the newest and most engaging campaigns.
Along with this Social For Action also focuses on startups, films, music, and technology, Social For Action is a platform for funding personal projects or enterprises and businesses. It is more than a crowdfunding platform as it offers options for campaigners to partner within our network of investors, incubators, accelerators, mentors, and for marketing, distribution and sales and community endorsements. This makes the platform, a comprehensive ecosystem for crowdfunding.
Social For Action Advantages:
Yes. Crowdfunding is an easy way to raise substantial amount of money for your startup through small contributions from a large number of people over the Internet. Using the power of Internet to reach out to future investors to put your startup on a growth trajectory in terms of capital and support.
As a small business owner, you might be looking for ideas of where to get capital from to take your business venture to the next level. After you have made a business plan, invested your own savings, and worked your business as a side hustle for a few months, it is time to raise some real capital.
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The phenomenon where people follow the examples of others in an attempt to reflect the best course of action in a situation. In a crowdfunding campaign, your early backers generate your social proof—once early adopters vet and buy into your idea, others are more likely to follow suit.
Great ideas and startups need a boost with funding. And with the increasing number of crowdfunding campaigns for startups on Social For Action, founders and innovators have a range of options to choose from.
Want to start your journey to raise funds for your startups?
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