Exploiting the potential of crowdfunding

Crowdfunding is a way of raising money for financial projects and businesses. It enables fundraisers to collect money from a large number of people via online platforms. It is often used by startup companies or growing businesses as a way of accessing alternative funds. And it has immense potential to succeed in new emerging markets like Bangladesh.
South Asia is a region which consists of such societies where helping others through donation is an integral part of the societal norms. So, these countries share particular cultural and religious traits that are consistent with the principles of crowdfunding. Bangladesh can develop a crowdfunding market as the country has a culture of charity. The government has already launched the first online crowdfunding platform in Bangladesh titled, 'Ek Desh'. Apart from this, there are a few other crowdfunding platforms in the country but their success rate is not up to the mark. However, several Bangladeshi companies have been successful on international crowdfunding platforms. What is now important is to explore the untapped potential of the crowdfunding industry.

Imtiaz Anik,
Student of the Department of
Accounting and Finance,
School of Business and Economics,
North South University, Dhaka,
imtiaz.anik5@northsouth.edu