If you have an idea to expand your business but don’t want to take out a loan from a traditional bank, crowdfunding may be the ideal solution. Crowdfunding is a popular technique for raising capital that involves accumulating donations in order to pay for business expenses. Businesses crowdfund projects by using social media or websites dedicated to crowdfunding. Crowdfunding relies on word-of-mouth attention and advertising in order to reach a large audience, with the goal of getting funding from potential customers before you have a product or service ready to offer.