What Is Crowdfunding And How Does It Benefit The Economy

With the passing of President Obama’s JOBS Act this past April, the word of the day seems to be crowdfunding. While this concept has arguably been around for centuries, it is still formally recognized as a new industry to many consumers, particularly those outside the United States.

Crowdfunding is by definition, “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.” Check out this video to get a clearer idea of the step by step process of crowdfunding.

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