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Page last updated at 10:32 GMT, Wednesday, 31 October 2012

'I need 10,000 in 25 days'

Crowdfunding, or crowdsourcing, is one of the alternative funding models the government has been promoting for small and medium-sized businesses to try and remove their dependence on bank lending.

It is commonly used by start-ups and involves them asking for investment from members of the public to help them reach their fundraising targets.

One of the world's biggest crowd-funding websites, Kickstarter, launches in the UK today.

Emilie Holmes, an entrepreneur who has signed up, explained to Today business presenter Simon Jack that she needs to raise £10,000 in 25 days.

"It's an all or nothing model, so I have to get all of it to be able get any of it," she added.

Get in touch with Today via email , Twitter or Facebook or text us on 84844.


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