The saying “It takes money to make money” is a popular one among aspiring entrepreneurs. Rarely can an idea come to life without funding to support all of its startup and production costs. In the event that you’re not sitting on mountain high bankrolls, here are five crowdfunding sites you may find useful in getting your business dreams off the ground.
[Related: New NYC Program Creates Pathway for 5,000 Women Entrepreneurs From Low-Income Areas]
Meet Black Enterprise and our dynamic team of speakers, like Steve Harvey and Jermaine Dupri, at the Entrepreneurs Summit in May for more advice on successfully kicking off your business.
Appbackr
Appbackr exclusively funds mobile apps that are on the market or in the stages of production. “Backrs” can make money, too, by buying as many copies of an app as they want. After the app is sold on a mobile platform, the “backrs” profit off of the price difference between their original purchases and the final selling price.
MoolaHoop
MoolaHoop is a crowdfunding resource strictly for women. When a campaign goal is reached, supporters are charged their pledge and the entrepreneur has access to the funds. There is a 5% fee after total funds are raised and 2.6% credit card processing fee, plus $0.30 per transaction.
Invested.In
Think one-stop-shop when it comes to Invested.In. The resource raises funds for rising entrepreneurs, performs market research, conducts testing to optimize conversion rates and a slew of other services.
Kickstarter
Kickstarter is one of the most popular of all the crowdfunding resources. Last year, the site generated about $1,000 a minute, launching 22,252 projects. Some of their biggest success stories from 2014 were the return of Reading Rainbow and the world’s first real hoverboard.
Rockethub
One of the many perks of Rockethub is their partnership with A&E. Through the collaboration, stories from Rockethub’s entrepreneurs and innovators are told in over 100 million homes. For all goals reached on Rockethub, there is a 4% commission fee and a 4% credit card handling fee. If you don’t reach your goal, the commission is 8% and the credit card handling fee of 4% remains the same.
The Black Enterprise Entrepreneurs Summit hosted by Nationwide is set for May 13—16, 2015 at the Hyatt Regency Atlanta. Expect innovative sessions, high-powered speakers, and an early peek at the products, trends, and services you’ll need to stay ahead of the curve. To register and find out more, visit www.blackenterprise.com/es/. Join us at the Entrepreneurs Summit, Where Innovation and Capital Meet.