LittleBigMoney is a crowdfunding initiative for supporting early stage small social enterprises in Colombia. LBM is recently consolidating its platform, and is actively promoting crowdfunding culture among growing networks of donors in Colombia and the region. A fund is being raised as alternative way of accelerating social enterprises by developing matching funding activities, such challenges, that through capital incentives (bonuses, prizes).
What is the issue, problem, or challenge?
The almost inexistent sector of medium enterprises, called the "missing middle" is attributed in part to the difficulty many micro and small enterprises have in sustaining growth. Formalization, innovation and meeting the requirements necessary to access more demanding (and profitable) markets implies high costs that entrepreneurs often postpone, instead of prioritizing other capital needs such as working capital. As a consequence, entrepreneurs miss out on market opportunities.
How will this project solve this problem?
Proving access to capital grants for nurturing best ideas from the beginning and pioneering the investment field in this sector of enterprises. Crowdfunding allows access to funding in a flexible way and lowered costs, by connecting with networks of donors and social investors at local and international space. Investing in early stages of social enterprises will allow business with potential of high impact, reach sustainability and connect with market financial sources and business opportunities
Potential Long Term Impact
Small and medium enterprises are the backbone of growing economies and crucial engines of development. Social enterprises are catalyst of social change. High impact businesses stimulate economic growth and innovation, generating new jobs, better incomes, and economic dynamization in underserved territories. With the right support they will have the potential to scale and generate economic opportunities that increase the welfare of millions of people.
Total Funding Received to Date: $550
Remaining Goal to be Funded: $5,650
Total Funding Goal: $6,200