The power of community is often leveraged in the nonprofit and charity sectors. But what if the hands of many were put to work for entrepreneurship?
The JOBS (Jumpstart Our Business Startups) Act, which was enacted in April this year, makes it easier for small businesses and startups to crowdfund. Kickstarter, one of the premiere crowdfunding platforms on the web, perhaps best exemplifies crowdfunding.
The law, which isn’t slated to go into full effect until January, is intended to allow startups to raise as much as $1 million a year from crowdfunding. According to the infographic compiled by Fundable and OnlineMPADegrees.com, if just 25,000 more people invested at median levels, it would equate to a $300 million bump for startups.
While we’re in the very early stages of crowdfunding, it’s easy to imagine a totally new kind of entrepreneurship flourishing around a crowdfunded model. By tapping into the power of the small dollar, businesses that otherwise might never see the light of day are given the opportunity to flourish. And for that reason alone, the JOBS Act and crowdfunding are making a difference by breaking down old walls and conventions.
Check out the full infographic below for more information on the JOBS Act and crowdfunding.