Crowdfunding can be integrated into both regional, national and international economic development strategies. It’s effects on the US economy are staggering. In 2014 we saw hundreds of thousands of jobs created in direct relation to Crowdfunding. While there was billions of dollars injected into economy. This trend is only predicted to grow, as Crowdfunding evolves and new options become available in terms of ways to Crowdfund. We are also seeing new changes in laws which in turn will allow equities and lending forms to flourish. Focusing on the United States economy we can see a great demographic shown below.
So what does all that mean? If we look at an startup company for example in a reward setting scenario, from the early stages of product development we see economic development on all fronts. The company first has to come up with an campaign plan and prototype on the product. They then have to find the right platform or run their own crowdfunding website to broadcast their campaign. While at the same time creating channels of commmunication and targeting their audience. Finally we see contributions on rewards and the product can go into production. With this whole process we see an increase in the capacity of an economy to produce goods and services.
Jobs are created to support innovation and new product development. While new technologies such as crowdfunding platforms are supporting these ideas. The information is exchanged globally and the world economies are affected. Here at Thrinacia we are helping clients from all around the world, by allowing them to use our turn-key solution to freely run their own Crowdfunding portals. Which in turn will impact many other people’s lives as they run their campaigns and try to make their ideas come to life. These are all benefits to allow for further economic growth.