Honeycomb Co-Founder, Ken Martin, and Millie's Homemade Ice Cream Owner, Chad Townsend, were featured on Our Region's Business on Easter Sunday to discuss the challenges faced by small businesses.
Ken, while explaining how Honeycomb can help, noted that “There is a gap opening up in the market and Main Street America just can’t get the capital that it used to.”
This crunch on Main Street America is particularly hurting small businesses and those just getting off the ground.
For businesses just getting started, there are a number of options in reward crowdfunding, in fact, Chad used Kickstarter to get Millie's off the ground. However, now that Millie's is a successful business he felt uncomfortable going back asking customers for donations.
This is where Honeycomb comes in. We enable businesses to run crowdfunding campaigns that allow their customers to invest, not donate. Now, for the first time ever, individuals can invest locally in businesses they care about and keep their investment dollars in their community.
"Honeycomb is the perfect middle ground of not having to go the traditional banking route, which is very difficult, time consuming, with prepayment penalties, and a lot of things that create a barrier to entry when going to a large bank," said Chad.
To see our current and past campaigns, click HERE.