Cliché as it may seem, it does not escape the fact that India is one of the youngest countries in the world. Unlike the previous ones, where people aspired to work with top-tier brands, we are gradually moving away from this thinking.
Just a couple of days ago, at the school meeting, when I met my friends, I was surprised by the discussion we had over dinner. We blame alcohol or nostalgia, we’ve talked about how we’ve progressed from school to serious relationships, from being a food fan at fancy restaurants to how we’ve realized the importance of homemade food, we’ve poured the heart. In the midst of it all, a friend stood up and “made an offer we couldn’t deny.” Although we were all settled with our jobs and families, there were those who wanted to break the monotony and start “something of their own.” He talked about his idea of creating an all-inclusive event and communication agency, he had a name for it, a team, a place, and so on. When asked about investments and finance, he said, “Have I heard about crowdfunding, guys?”
That put my horses on the run, and just as I was wondering how beautiful this concept is, I read an article that said that in the coming years, by 2020, India is expected to have more. of 11,000 start-ups and would be impressed with how India is already in love with crowdfunding. When I started reading and researching about why India is in love with crowdfunding, or should I say, why entrepreneurs opt for crowdfunding to raise funds for their projects, I gathered the following points.
1. Business Financing: Many of you are sure that, like my friend, you have an idea and are waiting for the right opportunity to launch you. Here’s your chance, crowdfunding is a great way to fund your project. Crowdfunding is not only a great financial tool, but it also helps you establish your marketing strategy. Given the growing population and rising levels of disposable income in India, it is easy to team up with like-minded people and use their established contacts to fund your project.
2. It puts us at the service of global pedestrians: crowdfunding is relatively more popular in the United States and the United Kingdom than in India. However, the trend is intensifying at a rapid pace. The advantage is that you can also target foreign investors and therefore expand the scope of your project, from the center in India or your city to crossing international borders. This also benefits India in general and highlights the potential we have and the incredible business proposals.
3. Collaborate with SMEs: We would all agree that, unlike other countries, India poses a unique set of challenges for companies, either a mandatory 2% contribution to CSR or focused in rural development. Crowdfunding is an excellent way to collaborate with SMEs and harness their potential, not only in terms of labor, but also to establish a network of customers and investors. India has a large SME base, so crowdfunding benefits us like no other.
4. International Clients: I think this is the biggest benefit you get from crowdfunding. Unlike other media, the Internet does not limit you in terms of limits, you can set up a video call with potential investors, ask for help from people around the world, and so on. India needs more foreign investors and therefore crowdfunding is gradually emerging as the preferred means to raise funds for companies.
5. Unlimited job opportunities: crowdfunding gives you the opportunity to talk to a lot of people, present your ideas, freeze with them and work with them. Undertake for service, at any time. With crowdfunding taking care of your financial needs, you can now give wings to your dreams to fly and reach heights. Which is better? You are working with your friend, being by friends all the time, giving you a respite from corporate politics and stress, because you are doing what you love and according to your idea / business plan.
6. Improved customer interaction: Now, your only motive behind crowdfunding might be fundraising, but you can’t afford to miss the opportunity to interact with your customers. Potential investors you interact with to raise funds may not invest in your plan, but they would be your client in the near future, which will help you work on your client interaction strategy.
I’m sure you’ve looked at many more benefits of crowdfunding or, by now, we both have good enough points to think about why crowdfunding changes everything in India. But why do we talk about it so much? Because it is time for us to recognize that India has an army of young entrepreneurs ready to face the world. Your ideas may seem small now, but in the near future they could take the world by storm with the way your business is progressing.