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Crowdfunding is a relatively new approach to raising money for a project, new business or cause online via specific websites that have been set up for this process. Specifically it involves you finding a crowd to help you fund your project. This means that many people invest small amounts in your idea, and if you hit your target then you could have hundreds of investors that help you to get there. The concept has proved to be very compelling and millions has been raised through a plethora of crowdfunding websites to date, leading crowdfunding to achieve phenomenal success so far. Looking at the figures, Alvaris Falcon of HongKiat.com reported that during 2012, there were more than one million crowdfunding campaigns and that the total amount raised worldwide was $2.7 billion. The UK makes up a sizeable proportion of this, and according to Rachel Bridge of The Telegraph:

“In the…

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