This week’s business startup…

For anybody starting a new business, money is one of the first things that has to be considered. And as we all know, getting that money from the more traditional sources, like banks is just not that easy any more. Would-be entrepreneurs find themselves exploring all sorts of avenues to finance their businesses – from funding competitions through to Angel and Venture Capital investment.

One of the newest ways to get that all essential capital though is by harnessing the power of the crowd. Although Crowdfunding has tended to mainly be the realm of the artistic and creative communities, it is now becoming a viable option for fledgling entrepreneurs too, thanks to this week’s business Startup of the Week.

Fundable is Crowdfunding for business Startup companies. Once a startup’s application has been approved by the fundable team they can then:

– Use the platform to ask backers for funding in return for rewards which could be anything from a company t-shirt through to a seat on a company advisory board.
-Backers can also offer personal assistance to the startup as well as financial support.
-Like most crowdfunding platforms, startups will only receive their funding if their fundraising goals are met and backers only pay if these targets are achieved.

Although the Fundable platform is still relatively new, we feel that it has the potential to become an important player in the crowdfunding arena. The fact that it is providing a much needed service to help new businesses get off the ground means that it surely deserves to be supported. Visit the site here, if you would like to submit an application to fundraise your startup.

Also, if you liked this business startup, why not check out some of our other business Startups of the Week.