The UK’s innovation agency, NESTA, predicts the UK crowdfunding industry to raise £14bn in 2016. That’s a big number considering the global market was expected to reach $6bn in 2013, up from $2.7bn in 2012.
The growth is being driven by an increase in platforms, rapid adoption of crowdfunding as a finance source by businesses and growing consumer awareness.
Crowdfunding is providing the platforms to connect many parties, both individuals and businesses, with the goal of financing projects and ventures.
In my Econsultancy guest blog I look at 5 ways crowdfunding can benefit retail ecommerce.
Thanks, James