You can use your savings to launch your own business. Or you can borrow from a bank or your relatives. Or you can try crowdfunding. This innovative method is based on the concept of raising funding via crowds of people. Crowdfunding is becoming more popular because it is a way to raise money quickly. It’s used where traditional banking channels provide only partial and imperfect solutions – or no solutions at all.
Lynn Tan cleverly used crowdfunding to start her own eco-shampoo business. Mother to three kids, she says, “I care about how environmental issues are going to affect our children’s future.” She came up with the idea of The Powder Shampoo – a powder-to-foam shampoo that lathers just like any other liquid shampoo when you add water. But because it’s not sold as a liquid shampoo, it uses less resources to make. Plus it comes in a refillable aluminium bottle to avoid the use of plastic.