The Inspiration:

-> According to a Forbes Magazine Article written in 2018, 28 million small businesses account for 54% of all U.S. sales

-> There is no doubt that in this covid driven world, our economy has taken a hit. Many businesses have been forced to close and the unemployment rate continues to skyrocket in many countries

-> To bootstrap our economy back on its feet, we need to take initiative and help create jobs in our economy by aiding small businesses

The Problem:

-> According to PNAS.org, 41.3% of businesses reported that they were temporarily closed because of COVID-19.

-> A majority of business owner's surveyed report that they only have 2 weeks worth of cash to cover expenses.

-> While federal and state funding has picked up some of the burden, many small business owners are fearful that this epidemic may never end and bills may run them out of business.

The Solution:

-> Enter, LocalGiver.

-> We wanted to create a mainstream platform where small businesses can look for backers in exchange for coupons or other special items!

-> Crowdfunding has taken the entrepreneurial world by storm. We wanted to take advantage of the popularity of crowdfunding to provide capital for small businesses, and to also create a platform for community members to take part in this chapter of a business's unfolding story.

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