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Crowdfunding Could Be the Answer to Your Cash Woes

A host of websites have sprung up to help people raise money from supporters.

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This story appears in the June 2011 issue of Start Up.

Crowdsourcing has moved to the money arena, tapping the power of larger audiences to provide funding options for startups and established businesses. A host of websites dedicated to crowdfunding are popping up, matching small businesses, soloists and artists with people willing to invest in projects they find worthy of support.

In most cases, fund-seekers simply sign on to one of these sites, create a profile and start asking for money. Naturally, investment sizes vary depending on the individual investor and the specific website's regulations. For example, you'll find that some sites specialize in small investments, while others require a minimum commitment.

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