Starting a new business is fraught with difficulty and many don’t survive long after their launch. One of the main challenges is how to be competitive in an established market. How can a new business hope to be as good as or better than its competitors — particularly when those competitors have established brands and can access large budgets and costcutting economies of scale?
Online crowd-funding and crowdsourcing is now providing young companies with an opportunity to access resources that were previously only available to established ones. In so doing, start-up companies are now, more than ever before, able to find their competitive advantage.
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