New Web Platform Allows You to Invest Locally

Kelsey Campbell-Dollaghan profiles Smallknot, a Kickstarter-like platform that allows local businesses to tap their neighbors for capital investments in exchange for goods and services.
August 4, 2012, 7am PDT | Jonathan Nettler | @nettsj
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Founded by two Wall Street refugees frustrated with the inability, or disinterest, of the global financial system to invest in small businesses, SmallKnot facilitates neighborhood-based seed funding.

Campbell-Dollaghan explains the service thus: "Let's say your local bike shop wants to expand, or your favorite pizza shop wants to install an authentic wood-burning oven...business owners can launch a campaign to incentivize their own customers to invest, in return for special deals and perks--not unlike a more targeted, localized version of Kickstarter."

"Since launching in October, Smallknot has helped a fairly diverse group of small businesses raise funding: $2,500 for a new cake shop, for example, and $10,000to help beloved Williamsburg brunch spot, Egg, replace its tables and chairs. Today, a small progressive radio show in South Carolina is hoping to rebuild its website after a hacker knocked it offline ($100 will make you co-host for a show)." 

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Published on Friday, August 3, 2012 in Fast Company Co.Design
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