A new rising series of companies are developing rapidly, considering the globe environment is favorable for the startups which initialize their businesses with a micro amount of funds compared to the matured public company with a high liquidity.

How can these business work without large capital?

In class, we learnt about innovation and entrepreneurship. By the support of new innovative technology, they are able to incorporate online and raise money from platform like Kickstarter, hire engineers and programmers from Upwork, rent equipment and supplies from Amazon, find outsourcers on Alibaba, and process payments at Square. Instead of buying a bulk of products and services, they rent as much as possible and buy as less as possible.

Entrepreneurs today are also innovative. Thanks to the crowdsourcing site such as Kickstarter, artists, musicians, filmmakers, designers, and other creators find the resources and support they need to make their ideas a reality. To date, tens of thousands of creative projects whether big and small have already come true.

A interesting project I find on the Kickstarter is called “Cypress Umbrella”, which owned by Hedgehog Products Inc, a local small firm in Vancouver, and has 597 backers and raises $71,845 CAD fund to support the project. The feature of the umbrella is its special durability can conquer any fiendish weather and take it all in stride. The slogan of this umbrella is “the last umbrella you will ever buy”, which is succinct and powerful to let the investors know what kind of product they are invest to.

In this way, anyone can be entrepreneur and starting a business becomes ever easier.

Sources:

http://www.economist.com/news/leaders/21676767-entrepreneurs-are-redesigning-basic-building-block-capitalism-reinventing-company?frsc=dg%7Ca

https://www.kickstarter.com

http://www.hedgehogproducts.com