Fundraising expert Barry James takes a cold, hard look at the world of business advisors and asks if they really have the tools needed to support entrepreneurs.
The business advice industry, across the private and public sectors, is full of people with extensive experience of business success, of overcoming business challenges, bringing products to market, and creating great companies. I know they provide advice that their clients value.
But when The Crowdfunding Centre surveyed business advisors across the UK the vast majority said they are now, frequently, being asked about crowdfunding by clients – but they had absolutely zero experience of crowdfunding themselves.
Meanwhile, seed crowdfunding ( the Kickstarter model for example) has now grown to the extent that it is one of the main funding sources, alongside debt and equity, for startups, rivalling Start Up Loans in scale – and delivering 40 per cent more to the ventures it funds.
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