If you are an aspiring entrepreneur staying in Alberta, Alberta BoostR is good news for you. Alberta BoostR is a crowdfunding site for all the citizens of Alberta. Many people have great ideas with vast potential, but a problem for such innovators is the lack of funds. These ideas may be good, but financial institutions don’t give out loans so easily. This is where Alberta BoostR comes in. As an innovator and entrepreneur, you can convince users of your idea and convince them to part with their funds. Every contribution you get won’t be big as a bank loan, however as more and more contribute your funds began to grow.
Gives a Buzz
Using Alberta BoostR is a fantastic way to create anticipation for your product. A common strategy for many big businesses is to announce their future plans and what they are working on. An example is how video game companies announce the next game they are working on and give sneak peeks into it. The E3 Expo is filled with this. The aim of movie trailers is to create anticipation.
Any entrepreneur knows that it is important to create a buzz about your brand. It is better to start with a bang than in quiet silence. At the same time, they have to use this buzz to get people to contribute funds for the project.
A Big Step Up for Non-Profits
Not all entrepreneurial projects are about profit. Some are just personal or public projects trying achieve a few things. Take for example Rainbow Ballons Ltd. on Alberta BoostR. This is a project that aims to launch a rainbow hot air balloon in Calgary.
This means profit making is no more a criteria for a financial venture. An example of a personal project is Tyler Neilsen who is trying to collect money to print a book.
The idea of Alberta BoostR is that individuals give in financial donations which they can afford. However, what do they get in return? Since crowdfunding has changed how funding works, the benefits a donator receives has changed too.
Giving a benefit to the donator is not obligatory, but ideally, entrepreneurs should at least give donators exclusive and regular sneak peeks into the development of the project. Some crowdfunding projects are even known to offer trials of product or even better give it to them for free.
It’s All about Being Local
The province of Alberta is big hub for the entrepreneurial community. In fact, Calgary and Edmonton are big spots for the entrepreneurs. It pushes the local community to play a role in the growth of businesses. Not only do users donate finance, they can ask questions and offer opinions to entrepreneurs who have started the project. Local businesses are vital to growth of a city and Alberta BoostR helps people realise that.
Alberta BoostR crowdfunding does not spell the doom of traditional funding, but there is shift in it. Though the site does take a cut from the funds collected, it does not charge interests. Entrepreneurs don’t have to depend on financial institution to realise their idea, instead they can convince users of their dream. Getting funds from Alberta BoostR is way cheaper than getting loans.