Crowdfunding to be focus of small business seminar

California State University, Bakersfield's Small Business Development Center (CSUB SBDC) will host a free seminar on the rising popularity of crowdfunding from 1 to 3 p.m. Thursday, Sept. 20 at Beale Memorial Library. Crowdfunding is a strategic approach to funding business projects through the support of a large number of people donating to specific projects via the Internet. Common crowdfunding projects include incentives and rewards to encourage supporters to back an idea, project or technology via a website such as Kickstarter.com.

Last year, more than $1.5 billion was raised worldwide through crowdfunding and that amount is increasing dramatically, according to Kelly Bearden, director of the CSUB SBDC and seminar presenter. The concept will offer an even greater potential for small businesses when the Security and Exchange Commission issues new laws for investing in small businesses. The change comes after the April 2012 passage of the Jumpstart Our Business Startups (JOBS) legislation that effectively legalizes equity-based crowdfunding.

"The crowdfunding craze is creating another funding opportunity for local small businesses and since the money does not need to be repaid, it has created a great deal of excitement," Bearden said. "The key to getting projects funded is to plan and strategize your campaign just like obtaining other business capital."

Individuals attending the seminar will learn the basics of setting up a campaign, what is an eligible crowdfunding project, what platform is best for your project, and the keys to leading a successful campaign.

The CSUB SBDC is an off-campus center that offers no-cost, high quality business consulting as well as topical business workshops, classes and conferences.

The free seminar will be held in the Tejon Room on the second floor of Beale Memorial Library. Space is limited. Register online at www.csub.edu/sbdc. For additional information, contact Kelly Bearden at kbearden@csub.edu or 661-861-7951.