Is Your Company Suitable For Crowdfunding?

GOAL: to find out if your business is suitable for crowdfunding
  1. Estimated Reading Time:  5 Minutes with Video
  2. Level: Newbie
  3. Prerequisite: None

SMEs should consider crowdfunding platforms as their main alternative for business financing to reduce some pressure on their cashflow. Crowdfunding is highly regulated, and relatively cost-effective compared to other alternatives outside of the banking systems, government initiatives and grants. 

Many business owners made the mistake of assuming crowdfunding is a Mickey-Mouse exercise. While it’s true that the average size for crowdfunding is around a hundred thousand, the amount that can be crowdfunded goes all the way five million Ringgit and more, so this is anything but child’s play.   

Are you suitable for crowdfunding? Please take a few minutes to answer the questions below and find out for yourselves.    

are you a good candidate? 

You are if you answer “Yes” to half of the questions below.

I need at least 100,000 Ringgit for 15 to 180 days repeatedly to cover business expenses throughout the year due to inconsistent cashflow
my aging report is horrible. I am not collecting my invoices fast enough and it is affecting my cashflow
My business is great but my suppliers refuse to extend me a credit line beyond my current limit. They want to me to pay cash on delivery for any extra orders
I’ve received LOA from the government \ other large companies\ main contractors but i need some cash upfront to buy materials and pay off my partners \ subcontractors first
I am a regular user of factoring \ money lending services to cover short to medium term expenses
I run a university with significant pTPTN student population
My cashflow is super tight, my bank limits are up, and i have no collaterals to offer, but i do have a ton of uncollected invoices
I have obtained financing for my mega million Ringgit project but I still need some bridging loan to cover some gap in that financing
I have ran out friends, families and fools 🙂

how did you do?

If you are running a Malaysian registered company and you said YES to the majority of the questions above then you might be suitable to use crowdfunding platform to raise some funds for your business.

Enjoy this little video I made with my son, and if you wish to learn more, please fill-up the form for me to reach out to you. Thanks for your time and stay safe!

Featured Articles