Crowdfunding in Mexico, between necessity and dream.

Crowdfunding in Mexico, between necessity and dream.

If you think that Mexico it’s only sombreros, nachos and tequila you are wrong, maybe in a few in the cliché-list there will be also crowfunding.
Crowdfunding
is the practice of funding a project by raising many small amounts of money from a large number of people. Supported in recent years by increasing internet access, crowdfunding has been gaining momentum, even if it has been out there for hundreds of years (e.g. church’s alms or tandas) new technologies now allow larger numbers of potential donors or investors creating event or spreading the word.
Why crowdfunding and Mexico?! Because in Mexico borrowing from bank requires high securities and involves high interest rates, and this literally blocked the capitalistic spirit and the culture of growth and investment. That’s why crowdfunding could fill the gap and solve a lot of problems for all the small and medium enterprises that would like to grow the businesses and who have not access to the traditional system.
A recent report, from the Multilateral Investment Fund, member of the Inter-American Development Bank, called Crowdfunding in Mexico: The Power of Digital Technologies to Transform Innovation, Entrepreneurship & Economic Inclusion it’s analyzing the opportunities and challenges that Mexico will faces to foster this practice but also the optimism for the success of crowdfounding in creating the country’s entrepreneurial culture.

But will be a long way, there are
big challenges like regulating, businesses education, development and diffusion of internet technology, and other basic aspects to make people sure of what they are doing and understand what they to take informed decision.
For example now crowfunding is naturally seen with some skepticism among the main part of the population,but working on the above-mentioned challenges would unveil the potential benefits of accessing to a new and affordable financial source, close and possible for everyone.