Small business owner Dana Mauriello compares the concept of crowdfunding to “passing around the basket at church.” In other words, obtaining financial support for a new business from many investors instead of a small handful. The Internet age has been great for crowdfunding as small business owners can spread the word about their investment opportunities via Twitter, email and Facebook and ultimately reach a larger audience than through traditional offline methods.

 

Photo: Melissa Hincha-Ownby/Flickr