Crowdfunding in South East Asia is just beginning to pick
up in the region with Singapore at the helm of advocating the
platform. The overall numbers are proving to be promising for
crowdfunding not only in the region but worldwide as well. But a
lot of industry experts are starting to take notice of the massive
potential the region possesses.
As North America and Europe respectively raises 59% and 35% of the
total numbers worldwide, South East Asia is slowly but surely
putting up the numbers. There are still a few kinks that has to be
worked on like the language barrier and government regulatory
measures but the wealth and generosity of the people are almost at
par with anywhere in the world.
Of course, there is still a good percentage of crowdfunding
projects and pitches that does not get funded and the project does
not see fruition. But for most, they succeed with their financial
goals whether it is a donation platform and get to touch a lot of
people’s heart or a reward platform and they get to tickle the
fancy of consumers.
There are also equity crowdfunding platforms that are able to put
together a great business pitch and convince a good number of
interested investors to start-up and fund the capital needs of the
company. There are a few lending platforms that attract a unique
set of funders that is willing to loan their money to those in
need.
Why crowdfunding helps a lot of people
People succeed with crowdfunding for a number of reasons. It can be
one or a combination of certain factors that helps them get the
money that they need for their objective whether it is a personal
need, disaster, new business idea or the need to consolidate their
debts.
Challenges faced by project initiators
There are those who are not able to raise the funds that they need
due to common mistakes project initiators make. Here are some of
them which can hopefully be avoided in the future.
Crowdfunding succeeds and fails for a lot of reasons and all
proponents from project initiators to donors and even the platforms
themselves need to work together to succeed.