When any new business becomes successful, new jobs are bound to follow. As crowdfunding has begun to grow and develop, both part-time and full-time jobs became available for thousands. New job opportunities on this scale result in economic growth and development.
According to CNET, Kickstarter alone created 283,000 part-time jobs for creatives and 29,600 full-time jobs since launching in 2009. Whether it is jobs in creating campaigns, or jobs that were created after successful campaigns became funded, these meant stability and progress for thousands of individuals.
New Jobs in Various Fields
One of the best parts about the jobs being created by crowdfunding, is that these jobs are diverse. These new positions being created do not just cater to one specific field. Jobs in creative, customer relations, and legal consultation are just a few of the wide variety of jobs becoming available. Successful crowdfunding campaigns needed to hire more individuals who are qualified in these fields to develop their campaign and eventually hired even more to bring their invention to life.
Crowdfunding means new job opportunities to thousands struggling to maintain a job in their passion or field of study. Since there is such a large amount of different types of jobs, the individuals being hired are diverse and come from all walks of life. This has benefits to both the crowdfunding industry, as it builds a bigger network, as well as benefits the individual receiving the new job.
If a crowdfunding campaign becomes successfully funded, there is a greater possibility for new companies to grow. Company growth means more jobs in development and production of new products. When a crowdfunding campaign reaches its goal, the inventors behind the campaign know it is their chance to strike while the iron is hot. This means, hiring new individuals to get their business on the right track.
Many new companies gained notoriety after reaching their crowdfunding goal. The Pebble Smartwatch became a household name when it reached $10,266,845 in 37 days, but when production of the watch was stalled, backers became upset. Even the most famous name in crowdfunding quickly learned that in order to give backers what they guaranteed as a reward, they must hire more individuals to carry out their claims. By hiring more people, they increased their productivity and improved their customer perception.
Benefits to the Economy
New jobs have incredible benefits to the economy. With the numbers of new jobs created through crowdfunding being well into the thousands, the benefits are huge. More individuals being given jobs stimulates the economy and increases consumer spending. Unemployment rates affect your local economy as well as the nation’s economy, so hiring more individuals because of crowdfunding benefits the economy at both the local and national levels.
Not only does crowdfunding raise money for an invention to become a product sold in stores to boost the economy, but it creates more jobs that boost the economy. A study from the University of Pennsylvania found that for every 1,000 projects started on Kickstarter, 82 full-time employees were hired. These numbers would not have been possible prior to crowdfunding becoming a popular way for you to raise money for your invention.
Being able to create jobs that benefit the economy is a difficult feat. Through crowdfunding, there has been an improvement in the amount of jobs offered to individuals in the creative field, in public relations, and even in law. Crowdfunding has accomplished a lot in its recent history and creating new jobs is how it affected thousands of lives for the better.